ASSESSMENTS
Venezuela: The Problems of Another Nationalization
May 8, 2009 | 16:55 GMT
THOMAS COEX/AFP/Getty Images
Summary
The Venezuelan National Assembly has passed a law permitting the selective nationalization of oil contracting companies. The move gives Venezuelan state-owned energy company Petroleos de Venezuela some breathing room in the short term, but will ultimately impose additional costs on an already belabored industry.
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