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Venezuela reminds us that not every land is the land of plenty

...says many Venezuelans "are wondering why this is happening to a self-proclaimed rich country with the largest proven oil reserves in the world."After living under Chavez's bent brand of socialism, they're really wondering why?Venezuela uses...

http://chronicle.augusta.com/opinion/joe-hotchkiss-columns/2013-06-02/venezuela-
Retired Gen. Norman Schwarzkopf dies

...CINC-Centcom" in 1988 and when Saddam Hussein invaded Kuwait three years later to punish it for allegedly stealing Iraqi oil reserves, he commanded Operation Desert Storm, the coalition of some 30 countries organized by then-President George H...

http://chronicle.augusta.com/news/2012-12-27/retired-gen-norman-schwarzkopf-dies
Oil prices down about 13 percent since the beginning of May

...could be on the way.Japan's Kyodo news agency reported that the U.S. will ask other countries to release spare oil reserves when the Group of Eight meets Friday. The report follows rumors earlier this year that Western nations were planning...

http://chronicle.augusta.com/news/business/2012-05-16/oil-prices-down-about-13-p
Unrest in Libya affecting prices

...speculation about the use of emergency oil reserves that have been touched only twice...And it has the largest proven oil reserves in Africa.The United States...industry had their eye on world oil reserves that can be tapped if production...

http://chronicle.augusta.com/news/business/2011-02-21/unrest-libya-affecting-pri
Business
Oil prices at highest mark in two years

...gasoline prices in the U.S. held steady overnight at a national average of $3.171 per gallon.Libya holds the most oil reserves in Africa and is the world's 15th-largest crude exporter at 1.2 million barrels per day, according to the Energy...

http://chronicle.augusta.com/news/business/2011-02-22/oil-prices-highest-mark-tw
Business
Tax cuts moved Americans to shop in February

...percent, and reducing their forecast for growth in the April-June quarter from 4 percent down to 3.5 percent.President Obama said Friday that he was prepared to tap the nation's emergency oil reserve should the situation demand it.

http://chronicle.augusta.com/news/business/2011-03-11/tax-cuts-moved-americans-s
Business
Obama says tapping petroleum reserve is an option

WASHINGTON --- President Obama said Friday he's prepared to tap the country's emergency oil reserve if necessary. But as gas prices climbed toward $4 a gallon, the president said the U.S. must adopt a long-term strategy...

http://chronicle.augusta.com/news/business/2011-03-11/obama-says-tapping-petrole
Business
Gasoline hits average $3.80 a gallon on supply dip in April

...watch. He also stressed that America must find ways to reduce oil consumption."With only 2 percent of the world's oil reserves, we can't just drill our way to lower gas prices," Obama said. "Not when we consume 20 percent of the world's...

http://chronicle.augusta.com/news/business/2012-03-12/gasoline-hits-average-380-
Fight rising prices

...Obama, though, who often drops this erroneous line in his speeches on energy: "We've got 2 percent of the world oil reserves. We use 20 percent."He's only technically correct. Want to know why we have only 2 percent? Because Obama is...

http://chronicle.augusta.com/opinion/editorials/2012-03-25/fight-rising-prices
Fun-park dream stalls in Dubai

...hope was that their dollars, euros and riyals would keep the economy chugging ahead despite the emirate's dearth of oil reserves. The project sprawls over more than 100 square miles of desert -- bigger than Orlando, Florida, home of some of...

http://chronicle.augusta.com/stories/2009/08/30/bus_546163.shtml
Business