In saying "little," I should've been more precise to event at the adjective -- relatively; meaning relative to their cash flows.
At least historically, multinationals tended to use their outdated equipment in Third World settings, employing their most modern technology at home. It would not surprise me that Venezuelans could benefit from various computer-controlled technologies that domestic companies had not yet adopted. On Sat, May 12, 2007 at 01:33:43PM -0400, Yoshie Furuhashi wrote: > On 5/12/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > > The article the set off this discussion did not mention the disinclination > > of the > > private petroleum companies to contribute to productivity. Instead of > > exploration, > > they use their cash hordes to buy each other's companies. They do little > > for > > modernization. > > If that's the case, why do state companies, even the one in Venezuela > today, seek oil multinationals as partners, contract them for > exploration and development, and so forth? I thought that was > because state companies didn't necessarily have capital and/or > technology. > -- > Yoshie -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
