Tuesday, August 22, 2006
Iran seizes a Romanian oil rig
I doubt that this is the big August 22 "surprise" that some hawks have speculated about, but it doesn't seem like the best way to attract foreign investment:
A Romanian oil company claims that one of its rigs, stationed in the Gulf, has come under fire from Iranian troops.
A spokesman for the firm, GSP, said Iranian troops had seized the rig after firing from a nearby ship, and the company had lost contact with its 26 workers there.
The shooting reportedly happened as the rig was being taken outside Iranian waters for a mandatory overhaul.
People who bash the oil industry should consider that the work is extremely challenging, perhaps the most difficult there is. I, for one, do not begrudge the occasional inventory profits the oil companies earn when prices spike during periods of geopolitical uncertainty, because it is they who have to contend with that uncertainty.
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