Monday, September 13, 2010

Hugo Chavez Inches Toward Modernity

Hugo Chavez is catapulting himself ever closer to the modern age! After a 1977-built drilling rig sank, he has secured the services of a 1983-built drillship to drill oil for "Socialist PDVSA", the Venezuelan state-owned oil company. Both pieces of equipment are laughably obsolete, and likely fully-depreciated, so there is little risk to their owners sending such crappy equipment to Venezuelan waters. Such is the situation Chavez faces having royally screwed the global oil services industry. The only equipment that anybody will let him use is the decrepit old stuff that likely couldn't get any work anywhere else. The fruits of socialism.


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