Chavismo Nationalization of Oil Service Companies

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What do you do when your state-owned oil company is behind $13.8 billion on payments to contractors, your national debt is spiraling out of control, and you are falling behind your peers because your poorly run nationalized companies?

You nationalize the companies which service the oil sector, according to Hugo. Venezuela has now nationalized all oil service companies.

Sadly, it seems he has been giving lessons to Obama, as BoA is forced to take on capital from they dont want after being told last fall the board and CEO would be replaced if they tried to back out of the Merrill merger.

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