The Oil and Gas Journal of May 4th contained the following: "Taxaco's Chairnan, Augustus C. Long, is understandably a little annoyed at the legal theorists, some of them in our own government, who make bland assertions that 'it is right for a government to take over private property if this is done for a public purpose, and is followed by prompt and adequate compensation'. Long's company has felt this type of government bite in Cuba and Ceylon in recent years, and he scoffs at theory. 'There is no such thing as adequate compensation for a going concern! he says. His company hasn't received any compensation from either Ceylon or Cuba, and that is hardly fair by anyone's standards. ‘I challenge anyone to show me a single case where foreign owned property was seized and such compensation was paid, whether in Mexico, Ceylon or in any country! he says."
On the i1th of May, the Oil and Gas Journal had further statements on the harshness of the times:- "The F.L.N. has published a draft political plan that comes out of its recent meeting in Algiers. One para Yaph deals with oil and it's enough to make any company involved in Algerian oil operations, or even interested in then, Pees pause just 2 bit. It reads:- 'Nationalisation is a long term objective. In the present conditions the priority given to the utilisation of mineral and energy resources in order to meet the country's needs will to a large extent determine its economic development. It is mainly in this sector that joint ventures in which the state has a majority holding can ensure the development of technical skills, and create favourable conditions for an eventual take over."