Okay it's time I said it...many of you told me when I leave North America that I should
"Do something about the price of gas!". If I remember clearly, when we left it was around $3.99 a gallon. I said I would try.
Now what is gas in PR? About $1.50 a gallon?!
SO??!! Where's my thanks? Did I not complete your wishes? Have I not worked hard to make life easier FOR YOU??!!
Now all I have to do is take care of the World Peace thing and the finding a rich dude to take care of the educational financial woes of MN and I've got this job all wrapped up!
I had nothing however, to do with this one (Except we do have the neices and nephews of Sheik Al Sabah in our classes). This one doesn't look good for the home team... (the Q8 one that is...)
Read on..
Kuwait scraps joint venture with Dow Chemical
By Associated Press Writer Diana Elias,
KUWAIT CITY – Kuwait's government on Sunday scrapped a $17.4 billion joint venture with U.S. petrochemical giant Dow Chemical after criticism from lawmakers that could have led to a political crisis in this small oil-rich state.
The Cabinet, in a statement carried by the state-owned Kuwait News Agency, said the venture, known as K-Dow Petrochemicals, was "very risky" in light of the global financial crisis and low oil prices. The move came just days before the Jan. 1 startup date for the joint venture.
In its statement, the Cabinet said the "limits of the effects" of the meltdown on international companies cannot be forecast. KUNA said the contract was canceled by the Supreme Petroleum Council, the country's highest oil authority.
Dow Chemical said it was "extremely disappointed" with the Kuwaiti government's decision and was evaluating its options under the joint-venture agreement.
The project, in which Kuwait was to hold a $7.5 billion stake, had been criticized in the country as a waste of public funds, and lawmakers threatened to question the prime minister in parliament if it was launched.
Such a move could have led to Sheik Nasser Al Mohammed Al Sabah's impeachment, sparking a new political row in the country just weeks after the Cabinet resigned in protest after an effort by a group of Islamist lawmakers to question the premier over corruption allegations within the government.
Sheik Nasser was reappointed to his post though he has yet to form a new Cabinet.
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