US deplores Chavez's nationalization plans

0 Comments | AFP, January, 2007

WASHINGTON (AFP) — The United States deplored plans by Venezuela's leftist President Hugo Chavez to nationalize major utility and oil facilities which could violate bilateral contracts. "Nationalization has a long and inglorious history of failure around the world. We support the Venezuelan people and this is an unhappy day for them," said White House spokesman Tony Snow.

"The proposals he made concerning nationalization are a well-worn path that history has shown doesn't usually benefit the population," State Department spokesman Sean McCormack said. Chavez, who has repeatedly locked horns with the US administration of President George W. Bush, said Monday he would seek approval for the "mother of all revolutionary laws" to give him the power to nationalize the power and...