2 posts tagged with oil by mountainmambo.
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Ecuador takes over operations of Occidental Petroleum Ecuador began on Tuesday to take over operations of U.S. oil giant Occidental Petroleum Corp, the latest move in Latin America against foreign energy producers after nationalization in Bolivia and growing state intervention in Venezuela.
Congressional Oil spokesman goes after Citgo. In Washington, Texas Republican Congressman Joe Barton (R-ExxonMobil) has launched an investigation into Citgo. But he is not investigating whether any of the oil giants are engaging in price gouging at a time when gasoline and heating oil casts are skyrocketing. Instead Barton has set his sights on the only oil company that actually dared to lower its prices last year - at least for the poorest Americans. Last week Barton demanded the Venezuelan-owned company Citgo produce all records, minutes, logs, e-mails and even desk calendars related to the company’s novel program of supplying discounted heating oil to low-income communities in the United States. The Citgo program, which began late last year in Massachusetts and the South Bronx, provides oil at discounts as high as 60% off market price.