Obama’s new best bud Hugo Chavez, “president” of Venezuela, has ordered the seizure of a pipeline and natural gas compression terminal owned by Williams Cos. Inc. after this company sent default notices to Venezuela’s state-owned oil monopoly PDVSA for lack of payment. Very interesting business move by Chavez, he owes money and then seizes the company that he owes money to… if only American citizens at risk of foreclosure could do the same thing.

Chavez also went ahead and ordered the seizure of 11 vessels and an operations base of New Orleans-based company Tidewater Inc. also coming after PDVSA fell behind on payments. Again, a shrewd business move… except for the part where both of these companies will not invest further in Venezuela and possibly move their operations out.

These moves come on the heels of other Chavez political hit-jobs such as stripping the mayor of Caracas, the capital, of his powers and persecuting the mayor of another major city, Maracaibo. The mayor of Maracaibo ended up asking for asylum and receiving asylum from Peru. Both of these gentlemen were Chavez opponents. Chavez, in early April, arrested former Venezuelan Defense Minister Raul Baduel at gunpoint in front of his wife for alleged corruption. Baduel was a principal player in restoring Chavez’s power after a coup against him but broke with him in 2007 in protest of Chavez’s power-grab. How quick friendships can unravel when they’re in the way of absolute power.

When you look at what’s been happening over here: nationalizing private companies and threatening to investigate the former administration… it’s no wonder Obama got all cuddly with Chavez.

-AG