Venezuelan President Hugo Chavez said weeks ago he would nationalize Fertinitro, the fertilizer company. That’s the same one I mentioned months ago as being controlled by Koch Industries, the same Koch that created two of the five richest men in the United States and the same Koch that has funded the Tea Party movement. There are those up north who seem to think that their enemy’s enemy is their friend, and so this nationalization is good.
Chavez makes Charles Koch his bitch!
I wonder what would happen if Bloomberg had used that headline.
Fertinitro, aside from being a Koch property, is also partly owned by Eni SpA unit Snamprogetti. The Italian oil company just can’t catch a break in Venezuela. It previously lost its Dacion oilfield. It didn’t like Venezuela’s offer of compensation and filed for arbitration. But then, when Pdvsa dangled an Orinoco Belt project in front of it, Eni rushed to cancel its arbitration process and accept a settlement. That Orinoco Belt project is officially happening, but as far as I have heard, it’s going slower than tar-like crude in the snowy Alps. Now this.
Speaking of the Alps, totally off-topic, I have been loving these videos.