Colombia's Ecopetrol Gets Yet Another Corporate Welfare Check From US
The purported goal of the endeavor is to weigh the costs and benefits of improving "the safety, security, and integrity of Colombia's hydrocarbon pipeline system, acccording to a presolicitation notice dated Jan. 19 discovered during a routine search of the FedBizOpps contracting database.
"Ecopetrol S.A. seeks to improve safety and security and reduce losses of crude oil and petroleum products in the hydrocarbon pipeline system through a program of strategic investments," the document says.
As this writer pointed out in the Jan. 3 Narcosphere report, Ecopetrol in 2006 had planned to spend -- on its own -- $339 million for exploration initiatives, $675 million for production, $256 million for petrochemical and refinery operations, $66 million for transportation, and $69 million for unspecified "corporate" expenses. These USTDA programs are therefore nothing less than corporate welfare checks that benefit the Bush Administration's oil-industry friends in South America and back in the "homeland."
A pickpocket is a pickpocket, regardless of whether the thief gets away with five cents or $500,000, as in this current pilferage.
The above link to the USTDA planning document is scheduled to be active until March 6, when the document will be archived under standard operating procedures of FedBizOpps.
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Corporate welfare or war profiteering?
Submitted on January 25th, 2007 by Dan FederOne man’s conflict and suffering are another man’s “business opportunity.”
and more...
Submitted on January 26th, 2007 by Teofilo BallveOne could also point out a blatant contradiction: following free-market orthodoxy, the Colombian government has proposed to privatize 20% of Ecopetrol to get more of the "big-bad" government out of the oil business and draw private investment (with U.S. oil companies eagerly looking on). And yet, these free-marketeers see no problem with non-free-market government subsidies such as the one outlined above.
Pipeline Program Futile
Submitted on January 26th, 2007 by Sean DonahueThat pipeline is jointly run by ECOPETROL and Occidental Petroleum.
So a pipeline safety and security study seems a complete waste of money.
Its also important to note that this U.S. aid is coming at a time when ECOPETROL is undergoing significant privatization, which will, as Peacock suggests, greatly benefit U.S. oil companies.