Sunday, January 1, 2012

Exxon-Mobil Awarded Almost $1 Billion against government of Venezuela in Nationalization of Oil Project

An international arbitration body has awarded Exxon Mobil Corp. nearly $908 million in a dispute with Venezuela over compensation for the nationalization of its assets, the company said yesterday.
President Hugo Ch├ívez’s government nationalized an oil project in the country in 2007.
The famous quote from President Andrew Jackson comes to mind following the famous Supreme Court case Worcester v. Georgia involving Indian tribal rights: "John Marshall [the then Chief Justice of the U.S. Supreme Court] has rendered his decision, now let him enforce it."


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