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- Oct 20, 2009
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those assets formerly owned by an American based company are located in the country of venezuela and subject to its laws/rules
American federal laws, oklahoma states laws have absolutely NO bearing there
Are they really *in* the official Venezuelan *owned* land? I tried to find this out - on the Rig Company's website it lists these rigs as being in the body of water, not pertaining to a country.
To me I gather (and I'm still trying to learn more) that they're in international waters - just like Deepwater Horizon - and thus subject to international laws and still under the laws of their country of business-ownership.
I might be wrong but I think that's how it is.
Even so - they're still an American-owned company. They built them within contract with Venezuela and Venezuela breeched their contract and then took them over which is *still* unacceptable.
it doesn't matter where something is located - no other country has the "right" to take posession of it.