Friday, April 4, 2008

Cement Industry 5% of World CO2 Emissions, Chavez to Nationalize Industry

Just pulling your tit, Hugo. I know your goal is to do for the cement biz what you did for oil. Maybe if you nationalize the farms you can achieve some Zimbabwe-sized results (Z's life expectancy has gone from 63 years in 1990 to 37.3 today).
From Bloomberg:

Chavez Plans to Nationalize Venezuela Cement Industry
Venezuelan President Hugo Chavez said he plans to seize cement operations in the country, threatening the assets of the nation's largest producer, Cemex SAB of Mexico.

``Starting from now, all legal and economic measures should be taken to nationalize the national cement industry in the short term,'' Chavez said in a communications ministry statement.

The move would also affect Lafarge SA of France and Holcim Ltd. of Switzerland. Many cement companies are polluting the environment and have failed to invest in new technology, Chavez said. The state will pay the plant owners ``whatever it costs'' and invest in the modernization of factories, he said....MORE