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June 25, 2010

Commie Despot Renegs On Debts, Seizes Oil Rigs

Not Obama. Not just yet. Hugo merely paves the way to the future that we'd best wake up to and change.

CARACAS, Venezuela – Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.

Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year.

For more than a year because cash strapped Venezuela stopped paying H&P for their work.

I saw this in the early 80s, in my young stupid career, when Ghaddafi did the same thing to oil exploration and production in Libya.

Sometimes I really hate where God put the oil.

via Geoff who thinks I predicted this before him. As if.


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posted by Dave In Texas at 10:44 PM

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