US News

White House: Chavez plan to nationalize firms doomed to fail

Jan 9, 2007, 22:52 GMT

Washington - Venezuelan President Hugo Chavez's plan to nationalize utility companies will likely fail and represents an 'unhappy day' for the country's people, the White House said Tuesday. Chavez announced his plan to take over electricity and telecommunications firms on Monday, sending the country further down the path of socialism in the eyes of the US. 'Nationalization has a long and inglorious history of failure around the world,' White House spokesman Tony Snow said. 'We support the Venezuelan people, and think this is an unhappy day for them.' Chavez said he also intended to nationalize all heavy petroleum refineries, many of them owned by foreign companies that moved into Venezuela in the last 10 years. © 2007 dpa - Deutsche Presse-Agentur

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Your Talkback on this Story

Latest Headlines in US

Older Talkback

USA: Index

: News; Features

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint