Chavez to Obama: "Island In The Stream; That Is What We Are-- No One In Between; How Can We Be Wrong?"

In a gesture of good will, the Venezuelan government has formally donated an island near Philadelphia back to the United States.

Petty Island, an uninhabited island some 528 acres in size, is situated in the Delaware River between the states of Pennsylvania and New Jersey. It is owned by Venezuela's Citgo, which has used the island for fuel storage and refining since 1990.

Venezuelan President Hugo Chavez announced the gift at the Summit of the Americas last week as part of an improvement in ties between the two nations. The island has been donated with the intention of it being used for environmental purposes. Plans are being finalized for the transition, which will not occur before 2020.