Tuesday, May 20, 2008

News Briefs: Energy

* The price of oil hit $129 per barrel today; thus, hurting stocks in many countries such as Mexico.

* The head of OPEC and Venezuela's Energy Minister issued a joint statement claiming that oil markets are “well-supplied.” Yet that hasn’t stopped U.S. legislators from approving a proposal to take OPEC to court.

* Bolivian President Evo Morales has threatened to nationalize natural gas fields if foreign firms refuse to increase their investments.

* The governments of Peru and Brazil agreed to build a hydroelectric plant in southern Peru.

Sources- AFP, Reuters, Reuters UK, Times Online, International Herald Tribune

Image- CNNMoney.com

1 comment:

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