OT: Venezuela Likely to Nationalize H-P Rigs

Venezuela is likely to seize eleven (11) oil rigs owned by Tulsa-based Helmerich and Payne.

It's almost as tough being in the oil business in Venezuela as Louisiana now that the administration has nationalized the oil industry in the state of the Big Easy. Actually, it may be easier in Venezuela -- at least Venezuela is predictable.

Update, July 4, 2010: Yes, indeedy, Venezuela did nationalize these oil rigs. I just love the words governments and the media use to describe their actions. In this case, "nationalize" for "steal."

And it appears that the moratorium on drilling in the gulf will go on and on and on. The Obama administration canceled the next scheduled meeting to take another look at the moratorium. Venezuela steals rigs, calls it nationalization, and the US steals livelihoods, calling it a moratorium.