Chavez completes oil field takeovers, INSTANT gas price increase.

From: msnbcnnbcbs@hotmail.com
Date: Wed May 02 2007 - 09:33:55 EDT


http://www.chicagotribune.com/news/nationworld/chi-0705010694may02,1,474802.sto
ry?coll=chi-newsnationworld-hed

 BARCELONA, VENEZUELA -- President Hugo Chavez's government took over
Venezuela's last privately run oil fields Tuesday, intensifying a power
struggle with international companies over the world's largest known single
petroleum deposit.

Newly bought Russian-made fighter jets streaked through the sky as Chavez
shouted "Down with the U.S. empire!" to thousands of red-clad oil workers,
calling the state takeover a historic victory for Venezuela after years of
U.S.-backed corporate exploitation.

Chavez accused foreign oil companies of bad drilling practices due to their
hunger for quick profits and said Venezuela could sue them for causing lasting
damage to oil fields.

BP PLC, ConocoPhillips, Exxon Mobil Corp., Chevron Corp., France's Total SA and
Norway's Statoil ASA remain locked in a struggle with the Chavez government
over the terms and conditions under which they will be allowed to stay on as
minority partners.
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I can no longer find regular below $3.00/gal. I saw stations around here
yesterday raising prices in the middle of the day from when this story first
came out on CNN.com.

Anyone care to guess when they will go back down again? i really want to buy an
SRT-10..... :(



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