Exxon is to be congratulated for standing up for its property rights against Venezuelan dictator Hugo Chavez. ("Exxon scores win against Venezuelan oil company," Feb. 8.)
Exxon's legal victory in U.S., British and Dutch courts, which froze $12 billion in assets of Venezuela's state-run oil company, should serve as a warning to any government around the world that might consider nationalizing the property and looting the wealth of multinational companies.
Ayn Rand Institute