Venezuela’s legislature has voted to nationalize 11 oil rigs owned by the US firm Helmerich & Payne.
The rigs, located in Monagas, Anzoategui and Zulia states, will be taken over by state oil giant Petroleos de Venezuela (PDVSA), the official news agency AVN said.
PDVSA had asked the legislature controlled by supporters of leftist President Hugo Chavez to take over the rigs after the US firm declined to negotiate a new service contract, unlike 32 other foreign firms.
The oil giant is South America’s top oil producer.
Since 2007 Caracas has nationalized companies in industries from oil to utilities, to telecoms, cement, steel and banking.
Speaking of Breitbart, do you all know the famous actor Michael Moriarty from the TV show “Law and Order”? He linked to me yesterday from Breitbart’s Big Hollywood web site. Isn’t that amazing! I think it’s just by accident, I’m sure he isn’t a regular reader.
UPDATE: Ooops almost forgot.
Actually there is a nice summary of Obama’s demolition job on the economy that you can read in the Wall Street Journal. I liked it. Most of the stuff I blogged about already as it happened.
- 80,000 tons of food rotting in Venezuela government warehouse
- Hugo Chavez confiscates private property as Venezuelan economy declines
- Owner of the last anti-Chavez TV station arrested in communist Venezuela
- OAS report details violence and lost freedoms in communist Venezuela
- Photos from the revolution against communism in Venezuela
- Venezuelans riot as communist Hugo Chavez seizes control of TV channel
- Hugo Chavez says that Haiti earthquake was caused by secret US weapon
- Chavez marches Venezuela down the road to serfdom at gunpoint
- Communist Venezuela introduces energy rationing in 2010
- Hugo Chavez shuts down 34 radio and TV stations in Venezuela
- Venezuela nationalizes Spanish-owned bank
- Obama restores diplomatic ties with Venezuela and Syria