*ON FURTHER OIL NATIONALIZATIONS IN VENEZUELA

Click on title to link to the Leon Trotsky Internet Archive's copy of his classic 1938 exposition, The Mexican Oil Expropriations", defending what more recently have been called "third world" nations and their rights to exploit their own natural resources and to expropriate those controlled by the colonial (and neo-colonial)powers, if necessary.


COMMENTARY

HANDS OFF VENEZUELA!

Word comes this week, the week of May 1, 2007, that Hugo Chavez of Venezuela has ordered the nationalization of its oil industry, or at least a dramatic increase in the state’s percentage of the oil revenues. The situation is a little murky because the international oil cartel that runs the Venezuelan oil industry still retains an undetermined share of revenue. Although there have been no lack of nationalizations by capitalist states over the last century usually done to either placate a restless working class or, more frequently, to bail out a bankrupt industry such as the coal industry in Britain after World War II nationalizations, per se, are not the road to socialism. The key to that socialist road historically, unfortunately based on only one chemically pure workers’ revolution- the the early days of the Russian, has been workers’ control of production as expressed through workers’ councils.

nationalizations, particularly by colonial and semi- colonial nations trying to assert their rights over their own natural resources. (The Russian revolutionary Leon Trotsky, while calling for the defense of Mexico’s nationalization of its oil industry in the late 1930’s, wrote the definite leftist argument on our attitude toward such developments, see Leon Trotsky Internet Archives-1938) Thus any attempt by the imperialist powers, particularly in this case, the United States or its agents, to militarily or otherwise take those resources back must be opposed. One should also note that in the case of Venezuela such a defense may become operative more quickly than one might expect as many indigenous capitalists have either fled, taken their money out of the country or are hoarding in order to create some kind of crisis situation. The imperialists have stopped investing, as well. More, probably much more, on this later. Meanwhile HANDS OFF VENEZUELA. DEFEND THE OIL NATIONALIZATIONS!