Local press in Venezuela has suggested state firms including PDVSA could owe more than US$7bn to service companies that operate in the country. The country has seen its oil export revenues plummet after oil fell to around US$40/b after hitting highs around US$140/b last yeart of Venezuela.

OK...take that 7 Billion right off the top of Hugo's billions in reserve funds he just transferred for "social use"...then add the payouts to all the nationalized firms around the world. Hopefully by the time we get in line for arbitration there'll be something left over for KRY shareholders...that is if the bond holders don't bankrupt us first. This is turning into a real comic tragedy. Imagine the hilarity and belly laughs we will all enjoy after both GRZ and KRY refuse any sleazy take-over offers and Chavez (pig-headed as he is) STILL refuses to grant the permit before the May deadline...forcing arbitration. He must think that since it is "just a contract" and although we've spent hundreds of millions of dollars complying with all terms of said contract...that since we haven't actually built the mine, he's not really "taking" anything that isn't already his. What a jerk. He says he wants foreign investment out of one side of his mouth....then craps on solemn contracts out of the other. Sure...Venezuela will become a hot bed of investment. Cuba here they come! He's toast unless he tries to stay in power by force. If that happens...a sniper will cap him in between drinks at the pub. Cost of one hollow point bullet...approximately two dollars and thirty cents. Watching the first shovelful of dirt thrown on Chavez' grave....priceless.