In 2006 President Chavez of Venezuela and President Morales of Columbia both of whom declare themselves to be socialists expropriated without compensation (claiming that foreign companies had cheated the people and not paid taxes) foreign company assets in the their oil and gas industries.Identify and describe some of the future consequences of their actions.

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The Answer of In 2006 President Chavez of Venezuela and President Morales of Columbia both of whom declare themselves to be socialists expropriated without compensation (claiming that foreign companies had cheated the people and not paid taxes) foreign company assets in the their oil and gas industries.Identify and describe some of the future consequences of their actions.