" Charge Him Double And Give Him Nothing "

Didn't the govt pay much more for it from Shell?

to me it seems to be a very unhealthy situation and I feel quite sure that this 49% will dominate the commercial transactions and that Venezuela is now in a very strong position to charge what they want for their crude oil ..this is the standard Asian way of back door control

This moron doesn't even understand his own "Zero Tolerance" bullshit.

Impeach this fool.

Chavez is simply slipping his noose over the heads of the Dominican people by offering "el mono" Lionel a few bananas for the bad investment made on the refinery purchase from Shell.

Soon the children of the DR will be wearing red shirts with their school uniforms and Chavez will be seen haunting the halls of the Capitol, like a circling shark waiting for the right time to impose his will, much like he's doing with Cuba.

A "democratic government" has to be a government run "by the people and for the people"...the culture of corruption, nepotism and the Dominican "ME & MY" mentality is rampent in all facets of DR business and government now...so it's only a matter of time before those in power sell out those they have power over.

Unfortunately for the Dominican people, they're stuck. They can't leave the DR for anywhere else, unlike their counterparts in Latin America who flee to the U.S.A. at will when their governments and economies sour.

Ricardolito,
Your right, does this mean fuel prices will drop in the DR, I don't think so.
When will the selling out of the DR STOP !
The thought of a foreign Government like Venezuela owning 49% of something so important as energy shocks me.

Next, Hugo-a-go-go will flex his muscle by controlling and manipulating the DR's economy which could have drastic / profound impact on future generations. Never underestimate the power of being oil dependency by a foreign Government. GOOD EXAMPLE: THE U.S.
Good thing one can not eat oil.

I wonder what is the DR's Public response to this deal ? do they realize the possible economic percussion's that could be felt years from now "pay now, or really pay later" seems to me the DR Government makes instant decisions with out caring of the future out come. Please post some information / feed-back on this very important subject.
Take care.

ElCapitan,
Point well made.

" Charge Him Double and Give Him Nothing "

El Capitan, brillant.!! Well said. Chavez has an enormous EGO (even larger than LF's). He is not investing in a crappy tiny run-down oil refinary for business purposes., but as a mean of getting closer to the pulse of the Dominicanos. Chavez sees a need for socialism/redistribution of wealth (a revolution much like his own in Venezuela). God help the DR.

mrios ..in Australia and in south Africa , the Japanese took a minority stake in various coal companies and then they were in a position of buyer and seller ,,but all the prices fell ..The chinese are now trying to do the same with raw material companies.
Here in DR, this is the only refinery and if the DR can find cheaper oil from another country , does anyone think the Venezuelans will permit that purchase and when the Venezuelans say , sorry the price of crude is going up by $20 a barrel what can we do here about that now. I think Chauvez would kill Leonel in any negotiation.
Refineries are so important,especially when there is only one that I believe that every country should keep a firm grip on the ownership.

you guys talk as if this refinery is state of the art it is not I believe it is not even capable of refining the Venezuelan sludge even his own cant keep up with the demand and he has to import gasoline .He has ruined his own country and yet some morons on this site still support him Can you imagine the size of their brains ....." Charge Him Double and Give Him Nothing " and this great supporter of Democracy in Honduras supports the status Quo in Tehran and like Cuba tried to black out news of the demonstrations

The DR could start by doing the smart thing.......Buy small compact cars....Band the gas guzzling SUV's, and for personal use go Solar / wind power and rain water recycling for starts.

Dominicans should lean towards being self sufficient when it comes to energy.

"NECESSITY IS THE MOTHER OF INVENTION"

Funny how Hugo-a-go-go can flex his CHEAP OIL muscles...

I only wonder how the Politicos who favor this deal are gonna benefit from this ?

mrios ,,the roads are so bad that small compact cars are not an option except in the capital and Santiago ..the cars would not last more than a couple of years

My Dear Brother MRios. I live here in the DR and I would estimate that 70% of the poor peoples cars are converted to LPG which is 1/3 the cost of gas. Another 70% of the homes have inverters with a bank of batteries for when the power goes out. When I first got to the DR i purchased a HiJet pick-up truck that had 3 cly and ran on LPG. LPG was 30 pesos a gallon at the time then it jumped to 60 pesos per gallon so I sold it and bought a 125cc motorcycle. Its looking like I'm going to have to sell the motorcycle and buy me a burro.
My country was screwed over by Castro and now we will see what happens to the DR. Dominicans need to wake up and take a stand over their country or else. The only people driving big SUV's in the Dr are people who don't care how much they pay for gas because they have big bucks. I remember back when I lived in Cali, black folks dream was to own a Lincoln Continual, but they slept in it too. God Help the DR.

Dear Fred, The Dominicans will pay Double for LF

I see nothing that bad in the fact that Hugo will own the refinery, if anyone is to blame it's LF..

ElProfe, if you don't like it go to Puerto Plata and take a boat back to Cuba.

Chillaxin201, I don't think that I said that I did not like the DR at any time. I said that the deal with Hugo dose not look or smell good to me. If so why was it not offered to other Dominican companies to buy out 49% of the refinery. Also I am an American citizen who can travel any where in the world that I please and at ant time. So when I pass you up in your Yolla that is bound to sink before you get past the first buoy, I will throw you a US coastguard certified life jacket just to show you that I care.
God bless you my brother.

Profe, you do know that the deal was made by LF.. Either way Lf owes Hugo a sh!t load of money.
what people forget to notice is that LF is a sell out. To him it doesn't matter wom he sells out to as long as he gets his cut.....
By the I as well am a U.S. citizen .... I also care about the Cubans that leave Cuba on rafts.

Chillaxin201 " I also care about the Cubans that leave Cuba on rafts. "

Read BETRAYAL: Clinton, Castro & The Cuban Five

It's the TRUTH about those who saved balseros, and were murdered for doing so.

We should never allow that key means of production and distribution to the Dominican society TO BE IN THE HANDS OF FOREIGNERS! Especially to a guy wih imperial ambitions. Chavez is prohaitian and he will his power to force us to absorb the neighbor. Chavez will use the refinery to push Mexico out of our table!

May god help us! LF has betrayed DR in some many front that we should removed him by force just like Zelaya was!

Privatize the whole energy industry in the DR.
Allow them to charge the going rate.
Arrest and charge anyone who steals power.

Within two years the blackouts will be history and traffic will be less.

That's not good. When Chavez get angry because the DR went against his will then he will control the oil market in the DR and we will have no other option to just listen to this socialist and future dictator. We must watch Leonel very closely because he is stepping away from democracy and getting socialist ideas which are not good. Our democracy should be stronger and not influenced by any country.

The acquisition will occur in the form of a debt swap.
The DR is formidibly in debt for the crude purchases it made from Venezuela and the DR government will not receive one peso in cash for the 49% share.

JimHarrington,
Simply put, higher gas prices. The DR is in for a big surprise I could fell Hugo's strangle hold. One has to ask how did we get to this point ? Dominicans must cut gas consumption a.s.a.p and seek alternative energy sources.
ElProfe,
Currently the gas price is about $2.91 a Gal. for Reg. and is expected to rise soon, but then again the price of living has also risen across the board. Sale Taxes are on the rise, employment is almost 10%, Property values have dropped big time, Calif. like 9 other States are in economic turmoil with no relief in sight. The whole U.S is sinking. We have a Prez who is on a never ending spending spree. Yesterday We celebrated the 4th and all I could think of "The path to self destruction" and get this..."At least He's trying to fix the economy" and my favorite catch phrase "Bush screwed everything up" When will the Oh'Blama take responsibility for the last 51/2 Months? "Cap'N'Trade next... National Health Care = EVEN HIGHER TAXES.

You guys got the OBamable Snow Job before the election and bit and now .......YOULL BE SORRY

Continue....
Now DA Prez. is talking about a STIMULI S 2 in the fall which is on the drawing Board as We speak.
"the U.S, a World model for True Socialism". Again, most People in the U.S are still stuck on the COLOR Issue or say "At least He's trying to fix the Economy". This last 4th some how didn't fell right. Moving to the DR is sounding better & better.
Chillaxin201,
Brother ElProfe is doing a wonderful job in the DR Educating our Youth. I understand We sometimes print what We really don't mean or it's read out of context which leads to a total misunderstanding. ElProfe is setting a high standard for many to follow. ElProfe may be of Cuban descent, but at heart Hes doing what very few Dominican Born will ever do in a life time.
It's time We all pull in one direction let us be WHAT GOVERNMENTS SHOULD BE DOING IN THE FIRST PLACE.
Leaders can't lead without Followers, Blind leading the Blind. .

Personal note: ElProfe.....My offer still stands.
Take care my Brothers.

FredCDobbs,
Your right. But Sir, We'll ALL BE SORRY, WE'LL ALL PAY , the effects could be felt World wide even those who voted for Him, although most were were bent on CHANGE. Every move in the last 51/2 Months have been a thorn in the U.S Tax payers rear end. I never supported Him ! never will ! when I think of whats bad for the America Economy the first thing that pops in my mind is OH'BLAMA Prince of Socialism, and a bigger more controlling Gov.

Look, Chavez has already cut oil to Honduras (an internal affair for Honduras). What do you think will happen to DR if we do something out of taste for Chavez?

that Baboso we are going to " Charge Him Double and Give Him Nothing "

AllumeuseGeneroso,
O.K so Hugo-a-go-go cuts DR's oil.....Venezuela will have no choice but to built a taste of their own crude oil and survive on a high cloistral diet. Besides Hugo-a-go-go and OH'Blama should not stick there nose in other Latin American Country's internal Affairs. Wait ! did I hear Hugo-a-go-go protest Iran's Political unrest ? NOOOOOO ! at least OH'Blama was smart enough to waited until World opinion would support His verbal action, smart move.
I could see it now Venezuela ousts Hugo-a-go-go.....OH'Blama to the rescue with the side-kick DR Prez. on the side line.
GOD SAVE US.

Hi, Im a Physical Crude oil trader and can tell you that president Fernandez will destroy his country big time if he alwo this ti happen. We the traders in the physical spot market makes our money with spreads between locations. For example, Venezuela Tia Juana light crude Oil is trading at -$8 dollar per barrelo vs the Brent Crude Oil in Mexican Gulf, thats the profit margin and its called the "basis". PDVSA is so corrupt that they are giving a -27 dollar per barrel in their most popular sour crude and if you go to Glencore (a HUGE oil trader) you can buy the same oil from the same region at -37 dollar discount!, it's outrageous the level of corruption in PDVSA, Of course, PDVSA charge Glencore with a 50% ilegal Commision under beneath the table.

The refining industry is a poor industry, the profit margin are so low most of the time especially when you crack a very sour crude like the venezuelan one.

What Leonel Fernandez should do is to open the oil market in DR.

Nutty Hugo " Charge Him Double and Give Him Nothing "