Word: theftã
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Dates: during 2004-2004
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...rapacious governments that are only too keen to make you pay for their mistakes. One typical experience this summer had me constructing a financial model to price an oilfield with a $200 million liability for legacy pollution. The variable in the model that covered this was “theft??yes/no.” Simply put, several hours of modeling a number of oil fields, their refineries, transport assets and the like came down to one question: Is the government going to screw us at the first available opportunity? This country’s attractiveness to investors hinged...