Just when the oil industry thought it was safe to go back in the water, along comes the credit crunch.

Sitting pretty (AP) Tighter credit threatens to delay or kill a big chunk of the offshore drilling rigs under construction around the world. That's bad news for Big Oil, which in recent years has suffered from a dearth of offshore rigs, but which was hoping for some relief in coming years. But it's good news for established drilling operators who find their precious rigs are still in hot demand, and still fetch big leasing...