Chavez pins U S blame for high oil prices
Venezuelan President Hugo Chavez told businessmen that the U S government is responsible for oil prices hitting about 40 dollars a barrel, arguing Washington’s Iraq war drives fuel costs and urging measures to obtain oil at desired prices. He noted Venezuela’s view of 30 dollars as a fair price while OPEC members debate production and market stability. Gasoline and crude prices surged, with New York crude futures near 42 dollars before easing.
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ChevronTexaco sells western Canada oil fields to Enerplus and Acclaim
ChevronTexaco plans to sell oil and gas fields in Alberta and Manitoba to Calgary firms Enerplus Resources Fund and Acclaim Energy Trust for about 340.5 million and 317 million respectively, with a third party to pay roughly 138 million for portions after closing. ChevronTexaco, based in San Ramon California, remains the seller in this Western Canada deal.
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Fire erupts at Conyers chemical warehouse causing evacuations
A large fire at Biolab’s chemical warehouse in Conyers sparked several explosions and led about 300 residents to evacuate as smoke filled the area. Jeff Rutherford reported leaving home with his wife and taking refuge at a nearby high school while worrying about pets at home.
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Greenpeace Protest Shines Storm Images at Exxon Mobil Rally
Greenpeace protesters in Dallas projected 40 foot storm and flood imagery alleging global warming risks by Exxon Mobil, while the company defends outreach to researchers and calls the protest a fiction. Attorneys pursue charges from a separate peaceful Irving, Texas rally where 36 people were arrested.
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Oil prices weaken dollar as OPEC meeting looms
The dollar slid to two week lows against the euro and yen amid oil price concerns and a weaker U.S. consumer confidence report. New York trading saw the dollar at 41.14 per barrel after a rise to 41.72, while the euro stood at 1.2115 dollars and the pound near 1.8129 dollars. The yen traded around 111.77 per dollar.
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Organization of Petroleum Exporting Countries
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