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Monday, April 28, 2008

News You Can Use for Monday


Dollar Slide Drives Burgeoning U.S. Deficit as Japanese Desert Treasuries Add another ailment to the U.S. misery index of soaring gasoline and wheat costs and falling home values: a federal deficit that is burgeoning as foreign investors led by the Japanese recoil from the slumping dollar.


OPEC Won't Boost Oil Output, Supplies `More Than Sufficient,' Khelil Says OPEC won't consider increasing crude output before September, even amid investor concern that record oil prices may cause a global economic recession, according to the group's president, Chakib Khelil.

Nigeria Says Oil Production Halved on Exxon Strike, Shell Pipeline Attacks Nigeria is losing about 50 percent of its current oil production because of a strike at Exxon Mobil Corp.'s operations in the country and militant attacks on a Royal Dutch Shell Plc pipeline, the country's oil minister said.

Brazil Oil Trapped by 500-Degree Heat, Metal-Crushing Pressure, Salt Bed Brazil's plan to become one of the world's biggest oil exporters hinges on exploiting crude six miles below the ocean surface in deposits so hot they can melt the metal used to carry uranium to nuclear plants.

Drivers Empty Scottish Gas Pumps as Oil Refinery Strike Prompts Shortages Tony Walden squeezes his green mobile crane on to the forecourt of a Shell gasoline station on the outskirts of Edinburgh and waits. It's the fourth set of pumps he's tried, and all are out of diesel.


Corn Jumps on Speculation U.S. Planting Pace Slower; Wheat, Soybeans Gain Corn futures in Chicago gained on speculation a government report will show slower progress in U.S. crop planting than last year after cold, wet weather. Soybeans, wheat and rice also advanced.

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