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So Oil firms didn't leave after their refineries were nationalized? They didn't break down because non-Exonn / Chevron employees left and the existing people di
by SEJeff 8y ago
So Oil firms didn't leave after their refineries were nationalized? They didn't break down because non-Exonn / Chevron employees left and the existing people didn't know how to fix them? Hmmmm:
https://en.wikipedia.org/wiki/History_of_the_Venezuelan_oil_industry https://en.wikipedia.org/wiki/History_of_the_Venezuelan_oil_...
Granted, the monetary policy certainly helped, but when you spend billions investing in a country to only have that money literally stolen from you, so much so that a court ordered PDVSA to pay Conoco $2 billion, all investment is going to leave the country.