PerformanceCounterCategory.GetCategories() throws exception ArgumentException - Invalid value '' for parameter 'categoryName'

PerformanceCounterCategory.GetCategories() throws exception
ArgumentException - Invalid value '' for parameter 'categoryName'

When I try to run this code:
var categories =
System.Diagnostics.PerformanceCounterCategory.GetCategories();
I get an ArgumentException exception.
I already tried the following with no luck:
How to manually rebuild Performance Counter Library
http://support.microsoft.com/kb/300956
lodctr /R
I get the same result whether I run Visual Studio 2008, 2010 or 2012, on a
Windows 7 Enterprise SP1 64-bit computer.
I will appreciate any help.
Thank you.