Tuesday, January 23, 2007

Chevron Dodges Bullet

By Chris Thompson
Tue, Jan 23, 2007 at 3:27 PM

Looks like Honduras won't seize Chevron's oil tanks after all. Last week, President Manuel Zelaya announced his soldiers would seize oil storage facilities belonging to Chevron and other international energy giants, in an effort to ease a bad gas price hike that threatened to cripple the economy. But according to the International Herald Tribune, the government backed down after the American ambassador warned that the move would have "serious" consequences.

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