The U.S. has ``seen the results of nationalization in other places, and in general these types of actions do not produce economic benefits as expected,'' White House spokesman Gordon Johndroe said. ``If any U.S. companies are affected, we expect them to be promptly and fairly compensated.''
Exxon Mobil Corp., ConocoPhillips, Chevron Corp. and Total SA may lose their shares in the four heavy oil ventures if Chavez's plan is approved by Venezuela's congress. New York- based Verizon Communications Inc. has a stake in the country's telephone network.