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SANTO DOMINGO. - President Leonel Fernandez and executives of the company Shell today completed details for the State’s buyout of the 50 percent stake it doesn’t already own in the country’s only oil refinery, Refidomsa, said Hacienda minister Vicente Bengoa after a meeting in the National Palace Thursday.
He said the State must pay Shell 110 million dollars in November to purchase the shares.
Senior Government officials, Shell’s manager in the country Rafael Maradiaga, and two more executives of that company who came to the country from Houston, Texas, participated in the meeting with the President, whose names weren’t disclosed.
The sale of Shell’s shares in Refidomsa doesn’t include the gas stations like other properties in the country.
When the State becomes the sole owner of the facility, it will be allowed to import crude throughthe Petrocaribe Agreement with Venezuela, to buy petroleum with conditions of soft credit.
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The bourgeois regime in the DR and the increasingly proletarian government of Venezuela should explore possibilities to make a legitimate killing at the expense of the imperialists on the food crisis, the fuel crisis, and cash flow crisis that benefits their respective peoples and benefits the rest of humanity.
The US regime may follow LF's example and take a stake in the business.
US News and World Report ... yesterday
"According to a person familiar with the matter, the Treasury Department could release details on a plan to buy equity stakes in U.S. banks as soon as today. These details could come in the form of internal guidelines for how the program would work or possibly even a list of which banks would receive capital. The source said that Treasury is likely to take 5 percent to 15 percent stakes in midsize banks with exposure to the troubled mortgage market. Such stakes would be noncontrolling, the source said."
http://www.usnews.com/blogs/the-h....nment-buy-stakes-in-us-banks.html
oooo
So, the bourgeois state under Bush will put up enough money to buy all of the stock, but take only a 5% to 15% stake.
So, 95% to 85% of the money is a handout to the bankrupt US banks.
The bankrupt regime in the USA bailouts bankrupt US banks.
What the DR rich should do now is withdraw what's left of its money ... which ain't much ... from US banking system and put it as soon as possible in Cuban and Venezuelan GOVERNMENT banks that are rock solid.
US citizens would be doing this if they had the freedom to choose.
In others words.....Production will take a nose dive.