Saturday, August 14, 2004

Oil prices still climbing

Just what Chávez has been looking for.

Fears of an oil shock deepened yesterday as crude set new highs, underpinned by fresh evidence of strong Chinese demand and worries about sabotage in Iraq.

News of an explosion at the Whiting, Ind., refinery also helped push US front-month September light crude to a record $46.65 a barrel on the New York Mercantile Exchange, before closing at $46.58, up $1.08, or 2.4 percent, on the day.

...Worries about possible unrest in oil producer Venezuela during this weekend's referendum on the rule of President Hugo Chavez helped fuel yesterday's gains, analysts said.
Boston.com article

I suppose we'll tiptoe a little more carefully around Chávez for a while. If we don't manage to unseat him in the events of tomorrow's referendum, we may have to act nice to him.

Poor Georgie.

Caracas, Venezuela. Aug 13, 2004 (Venezuelanalysis.com).- U.S. Reverend Jesse Jackson, Congressman Dennis Kucinich, Historian and writer Howard Zinn, activist Naomi Klein, and others sent a letter to Venezuelan President Hugo Chavez offering their support ahead of the upcoming recall referendum.

A copy of the letter is below:
Venezuelanalysis article

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