Monday, December 29, 2008

DOWn Prime Minister

 

Kuwait canceled a $9 billion joint venture with Dow Chemical Co., the biggest U.S. chemical company, following weeks of opposition from lawmakers.

Bloomberg.com: U.S.

It is unfortunate how this project got canceled. I don't think it was undone due to lack of merit of the project, but rather due to opposition. The continuous wavering of the Prime Minister time after time has gone too far. Time to step DOWn!

3 comments:

Ra-1 said...

It is very sad!

Anonymous said...

Actually it is not very sad, the opposition was well justified; the joint venture was way over priced -especially for unrefined oil.
I'm glad it got cancelled.

bu ziyad said...

This is how we should have gone about the K Dow project rather than canceling all together:

Saudi Aramco and French oil giant Total are still committed to their multi-billion dollar petrochemical and refinery project and expect a cost revaluation after construction prices declined, Saudi-owned Al Arabiya channel reports Tuesday citing an official from the joint venture.