Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (102113)	6/4/2008 9:30:03 PM
From: Aggie	Read Replies (1) \| Respond to of 206110

Ummmm. Yes, well that's a little backwards isn't it? The license in an under-explored province is set with attractive terms in the first place because the risk is high. A discovery means that the license holder was successful in spite of the risk. Nationalisation, as illustrated with the article I showed, is basically the government deciding that greed is good, and as the oil company has no army and navy, greed is enforceable. Once oil is discovered, yes, the risk of dry hole reduces, no doubt - but that does not make a moral argument for the government to rescind its license agreement, any more than the House in Vegas gets to keep its money whether you win or not. Just my two non-nationalised oilfield cents. Aggie