As some of you know, Venezuela has nationalized the assets of all the private oil companies operating in the country. BP, Chonoco/Philips, Exxon Mobile, etc. Exxon has been fighting back.
So what happens if we apply Kantianism to this situation. What happens if all countries decide at anytime to take over a private run business? Obviously the risk of starting a business goes up, the cost of doing business goes up, its harder to find investors. I would consider these to be negative outcomes of this strategy.
However, perhaps there is a greater good here. Why did Chavez nationalize the oil industry assets.
Political control is one reason. Anything other reasons? Can their State run Oil company do better? History has shown that state run companies are run less efficiently than private owned forms. I'm open to anyone who has some ideas.
Here's the link to the story
http://www.marketwatch.com/news/story/exxon-mobil-take-hard-line/story.aspx?guid=%7B50AED756-680F-4B1C-BE4B-61AAABF4271B%7D&dist=hplatest
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