Well, boyz 'n grrlz, it's clear what our response to this action by Li'l Ugo has to be:

We need to send Sean Penn down there immediately to let Ugo know we're serious about ... umm ... about ... what? ... The flop-eared mule in the White House ain't gonna do anything ... why worry ... ? It's all good, right ... ? Sure it is ... Reagan would never have allowed this kinda crap ...

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http://news.yahoo.com/s/ap/20100624/ap_on_bi_ge/lt_venezuela_oil_rigs

Venezuela seizes oil rigs owned by US company

By FABIOLA SANCHEZ, Associated Press Writer – Thu Jun 24, 5:38 pm ET

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.

Helmerich & Payne announced in January 2009 that it was stopping operations on two of its drilling rigs, because Venezuela's state-run oil company, PDVSA, owed the company close to $100 million. It said it would shut down the rest of its rigs by the end of July as contracts expired unless PDVSA began to make good on its debts.

The company said Thursday that PDVSA's debt was $43 million as of June 14.

Referring to Helmerich & Payne, Ramirez said: "There's a group of drill owners who have refused to discuss service prices and have preferred to have this equipment put away for a year."

President and CEO Hans Helmerich said in a statement on Thursday the company's position has remained clear: "We simply wanted to be paid for work already performed."

"We stated repeatedly we wanted to return to work, just not for free," he said. "We are surprised by yesterday's announcement only because we have been in ongoing efforts in a good faith attempt to accommodate a win-win resolution, including a willingness to sell rigs."

The company has worked in Venezuela for 52 years, Helmerich added.(Obviously they learned nothing about local politics during their time there ... )

U.S. State Department spokesman Mark Toner said he hopes Helmerich & Payne is compensated and suggested the takeover and other recent nationalizations are scaring off private investment in Venezuela.(Duh. You think ... ? )

Go in and dismantle it all......make them build their own crap close it all off.

If it's what you think the action should be, chances are great, Hussein will do the opposite.

Is not Helmerich & Payne a private company?

I would suggest, Blackwater be hired by Helmerich & Payne to take back and guard their interest.

Turn off the spigot. No pesos, no acete.

Din't Blackwater change their name to 'Z' after the controversy ... ?

We could always send in SEAL teams to 'Deepwater' the rigs and give Li'l Ugo something else to occupy his time 'n thoughts ... just a thought ...

Time to play Teddy Roosevelt & bring that "big stick".

We need to earn back the respect this country deserves.

lets just nuke em!!
or shoot a small missle with ebola virus in it into ugo's hut

i agree... but it won't happen with the dem's in office... i still can't believe obama still wants to sit and chat with the muslims to work out our differences...he's spending our money so fast, we couldn't go to war if we had to now...

I have noticed that nobody has offered to nationalize the big oil spill. Its probably a location thing. This nationalizing thing of not having to pay your debts because you claim it as yours; hmm. Can we as just normal citizens do that here in the USA? I have some debts I would like to have nationationalized.

Did you notice O shaking down BP (in a most EXTRA-Constitutional manner) for $20BN ... ? That's gonna go to his Union buds and the illegals for vote fraud come November ... He's already called for nationalizing BP - it just hasn't happened yet ...

I didn't notice that. Thanks for the heads up.

Ok - serious question, becasue I just don't understand.

Helmerich & Payne are the smaller of the oil companies that have been involved. Apparently they have 11 rigs of the 33 that have been offered a "minority" partnership with Venezuelan government and not only refused the deal but stopped production all together. The Venezuela gov saw this as a boycott meneuver while Helmerich & Payne say they have been attempting to negotiate.

Now, there must be a reason, the other companies accepted the terms,perhaps they are more business savvey. Obviously, after a year in which the troubled Vene gov has given absolutely no flexibility in the original offer. At this point either H & P really are just boycotting or they lack sufficient wisedom to understand that their small part in the oil industry there, would not be seen as influential.

The above, rather briefly, is what I have gathered from the articles I have read.

These very rich oil companies, regardless of what country they are based in, have taken their BUSINESS to Venezuela. They are not drilling for oil to be sold 'back home', they have agreements to drill for Venezuela. BUSINESS contracts abroad. Venezuala chose to modify those contracts, part of which included the oil companies accepting a 'minority' partnership or, in some cases, selling certain rigs to Vene to be nationalized.

Any company/industry, international corporation, based and even incorporated in the U.S. may choose to take their manufacturing/business abroad, creating business contracts, by choice, with other countries.

These companies are FREE to make these busineess decisions and they do so all the time.

Now I can understand our government getting involved when some of its citizens are being unjustly attacked or held hostage by the by the host country - but that is not what seems to have transpired in this affair.

In fact, I have found two articles reporting that Venezuela plans to pay for the rigs. The point is that H & P have been watching the internal affairs of their host government for a lOONG time and in the last few years a move toward a socialistic governance has been prominent. Many big businesses have been siezed and nationalized by the government.

H & P have also watched as the bigger players have accepted the conditions of the gov as they continue to attend to their business.

H & P took a risk, like every other business venture, for some unknown reason, they decided to be the last hold out and they lost. The loss is of their own making. They have not been attacked, they are not in danger, they have lost in a business venture, while others in the exact same position, made choices in which they continue to prosper.

Again, why should the government (at this point)with the information we have, be involved in any way?

President Bush would never have allowed this either. But remember Obama has his photo ops with Chavez and recieved a book on communism from Chavez.