Venezuela takes operations from big oil companies

Reuters reports:

Venezuela stripped the world's biggest oil companies of operational control over massive Orinoco Belt crude projects on Tuesday, a vital move in President Hugo Chavez's nationalization drive.

The May Day takeover came exactly a year after Bolivian President Evo Morales, a leftist ally of Chavez, startled investors by ordering troops to seize his country's gas fields, accelerating Latin America's struggle to reclaim resources.

"The importance of this is that we are taking back control of the Orinoco Belt which the president rightly calls the world's biggest crude reserve," said Marco Ojeda, an oil union leader before a planned rally to mark the transfer.

Socialism is stealing of property:nothing more.