Drilling Companies that own rigs, depend on the daily rental revenue from each rig. The rental cost for each deep-water rig has been a half million dollars per day, due to the limited number of rigs available. Petroleum drilling companies idled in the Gulf due to President Obama’s moratorium are sailing away, they cannot afford the loss in revenues. On PBS the CEO of Diamond Offshore Drilling Inc., that he and other drilling companies believe President Obama’s Administration will just issued another moratorium order after the current one expires. He based this belief upon the administration’s past actions when each moratorium was found to be unconstitutional; they just issued another moratorium order.

The moratorium had idled about 35 rigs. But the number is decreasing. Already two rigs have sailed away to drill in even deeper water than that in the Gulf. One rig left around the 9th for Egypt for a 50% reduction in rental revenues ($225, 000 per day). Another rig has left for the 60-day trip to The Republic of Congo. Even a swallow water rig is leaving--it is going to Brazil.

Brazil, interesting, don’t you recall when the Obama Administration give PetroBra $2 BILLION from the stimulus package for deep water drilling. And only two days before the money was given to Brazil’s petroleum company, George Soros invested $600 million in the company. This is the same George Soros that donated $3 Million dollars to The Center for American Progress that supported Obama for President.

Not only are our citizens employed directly to work on the rigs loosing their jobs, but the companies that provide direct support to the rigs, and then there is the small business owners that depend on income from rig employees spending in their establishment. “Rigzone” believes that over 10,000 jobs will be lost.

As these jobs sail away, the question is will they ever return?