CNN: Residents of the Venezuelan capital on Monday began to experience water rationing as part of a government preservation measure during a drought. The rolling cuts to water service will affect the capital of Caracas and some nearby areas for periods of up to 48 hours, the state-owned water utility Hidrocapital announced. The rationing will continue through the first quarter of 2010, the government said. President Hugo Chavez has urged citizens to take extra steps to reduce water …