"It's very quiet this morning ahead of the US data. The
volume going through is absolutely pathetic. The decline this morning is as
people have been saying a 'technical correction' but also the stats look a
little bearish especially with the expected builds in gasoline."
- A London-based broker
commenting on a quiet morning trading ahead of the release of US inventory data
on Wednesday afternoon.
"We're somewhat mystified by Mr. Gonzalez's remarks.
The basis for the government's claim that it would take over Occidental's
interest in the OCP is unclear."
- Occidental spokesman
Larry Meriage commenting on Petroecuador President Fernando Gonzalez statement
that the government would try to take Occidental's OCP stake.
"We're going to think very carefully before we dive in
from a substantive standpoint. The drafters have to look very closely at how
many companies that affects. In the long-run, are you punishing companies out
there drilling or are you punishing the American consumer?"
- Frank Macchiarola,
Republican counsel for the Senate Energy and Natural Resources Committee
explaining why US Senate Republicans are not eager to lend support to a House
amendment that would require the Department of Interior to renegotiate leases
granted to oil and gas companies in the 1990s
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