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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 24, 1998
Page
1
Area residents faced an early taste of summer as temperatures peaked near 90 degrees. The previous March 23 record was 85 set in 1984. Meteorologist Greg Murdock of the National Weather Service in Midland says highs will reach 85 to 90 today and again 85 to 90 on Wednesday, with cool tonight.
An oil well owned by UMC Petroleum blew out about 4 miles west of Lovington causing a 10 mile closure of U S 82 and evacuation of several homes. Pressures exceeded 10 000 psi. Some residents could not return by Monday morning. No injuries reported. Methane fumes escaped though liquid flow had ceased by Sunday.
The United States plans to auction off millions of barrels from the Strategic Petroleum Reserve at prices potentially below 13 dollars per barrel. Energy Secretary Pena calls selling inappropriate for a low oil price, but a congressional mandate compels action after years of stockpile purchases. The 563 million barrel reserve in Louisiana has not bought since 1993 and now funds operations.
Federico Pena, U S Secretary of Energy, spoke at the Permian Basin Oil and Gas Recovery industry Spotlight Luncheon in Odessa. He warned that crude price volatility affects the economy and said the nation's energy future relies on oil and gas for years to come.
Titanic captures 11 Oscars including Best Picture with director James Cameron earning praise for the film. The awards ceremony marks a milestone as Titanic ties Ben Hur for most Academy Awards in a single year.
Titanic dominates the ceremony with 11 wins including best picture and director James Cameron. Jack Nicholson and Helen Hunt take top acting honors in As Good As It Gets, while Katharine Hepburn and Ingrid Bergman legends noted in post ceremony chatter.
Monahans police report a second meteorite found after a grapefruit sized rock hit near a group of children, creating a 6 long sound and a pavement indentation. The two rocks weigh two pounds 15 ounces and were kept for Smithsonian analysis. Witnesses include Jim Cothern who saw a flash and heard a loud sonic boom.
President Boris Yeltsin dismissed the entire Cabinet without warning and named Viktor Chernomyrdin as acting prime minister Although Chernomyrdin spoke for a prompt return to reform he said there was no political crisis Yeltsin and leaders stressed the reforms were irreversible and many ministers were kept on temporarily including Foreign Minister Yevgeny Primakov
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