Moratorium on Brains

President Obama waving goodbye to American jobs

The Washington Post reports today that Obama’s deep-water drilling moratorium is creating plenty of new jobs--in Egypt, and elsewhere abroad:

This month, Diamond Offshore Drilling announced that it is sending one of its deep-water drilling rigs from the Gulf of Mexico to Egypt. The rig, which can work in water up to 10,000 feet deep, has a new contract running at least through June 2011. On Monday, Diamond said another Gulf of Mexico rig called the Ocean Confidence would depart for Congo.

Diamond said it might move more of its three remaining Gulf of Mexico rigs to foreign countries. While apologizing for the loss of jobs in the United States, Diamond chief executive Larry Dickerson said, "We are actively seeking international opportunities to keep our rigs fully employed."

That should help jump-start the ailing economy!

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