foxsports.lycos.com SportsTicker Feb. 26, 2003 1:37 p.m.

NEW ORLEANS (Ticker) - New Orleans senior forward Hector Romero, the leading scorer in the Sun Belt Conference, will miss the remainder of the season after tearing the ACL in his left knee in the first half of Sunday's game against Denver.

Romero returned in the second half but was hampered by the injury. When the swelling decreases, he will undergo reconstructive surgery.

"Hector Romero has meant a greal deal to this program during the past two years and we certainly will miss him," New Orleans coach Monte Towe said. "However, the important thing now is for him to rehab and get healthy for a long, productive professional career."

Romero averaged 18.3 points and 9.1 rebounds per game this season. Last season, he averaged 20.1 points and led the Sun Belt in rebounds at 10.8 per game.

Romero, a junior college transfer and native of Venezuela, became the 20th player in school history to score 1,0000 career points and only the sixth to do it in two seasons.

www.omaha.com Published Wednesday February 26, 2003

LONDON - OPEC, supplier of one-third of the world's oil, may wait until the third quarter to reduce output because of rising prices and dwindling U.S. inventories, the group's president said Wednesday.

OPEC will not change the output at its March 11 meeting, said Abdullah bin Hamad al-Attiyah, who is also the oil minister for Qatar. "We believe now the oil price is very high and demand is on the high side," he said.

The Organization of the Petroleum Exporting Countries will meet in Vienna to consider oil quotas for the second quarter.

Oil prices in London have surged 56 percent in the past year to more than $32 a barrel as a strike in Venezuela sent U.S. inventories to a 28-year low and concern increased of an attack on Iraq.

The OPEC president has reversed course, after saying Feb. 3 that members probably will have to lower sales.

Forecasters such as the International Energy Agency have since lifted their oil-demand estimates for that period, in part because of a colder-than-normal winter in the U.S and Europe.

Analysts expect any U.S.-led attack on Iraq to take place within weeks.

Oil prices are inflated by as much as $6 a barrel on concern of war, and the group may consider trimming supply during the third quarter to avert a glut, al-Attiyah said Wednesday.

"I am very concerned about the third quarter," he said. "I believe that OPEC will come again to talk about how to cut production."

The minister visited London this week to attend an energy conference and also met British government officials.

OPEC won't halt oil sales to protest U.S. aggression against Iraq, al-Attiyah reiterated.

www.morningstar.ca 26 Feb 03(1:01 PM) | E-mail Article to a Friend

EDMONTON, Alberta (Reuters) - Skyrocketing oil and gas prices prompted energy-rich Alberta on Wednesday to more than double its projected budget surplus to a hefty C$1.8 billion ($1.2 billion) as oil industry revenues pile up.

The western Canadian province's government also boosted its outlook for commodity prices in the current fiscal year, a day after Premier Ralph Klein ruled out immediate rebates to help Albertans cope with surging heating bills.

The forecast surplus for 2002-03, as detailed in the government's third-quarter report on Wednesday, is up from C$724 million in the budget last March and C$199 million in the previous quarterly update.

As Canada's biggest energy producer and exporter, as much as a third of revenue in the province of 3 million people is derived from the oil and gas sector.

World oil prices have simmered near two-year highs in recent months because of fears of a supply disruption should there be a war in Iraq. Adding to jitters, a protracted strike in Venezuela has also cut oil exports from the major producer.

This week, natural gas surged to levels not seen in 25 months due to cold weather in key North American consuming regions as markets fretted over dwindling inventories.

Alberta Finance Minister Pat Nelson said her Conservative government increased its oil price forecast to $28.86 a barrel, up 44 percent from the outlook in the budget.

Natural gas at the Alberta wellhead was now expected to average C$4.65 per thousand cubic feet, up 55 percent.

Total revenues were projected at C$22.6 billion, up from the budget forecast of C$19.9 billion, due to the increased take from the oil industry. Expenses are pegged at C$20.7 billion, up from C$19 billion.

Of the surplus, which the Klein government calls an "economic cushion," C$900 million will go to a new capital account to be used to bolster infrastructure such as new schools and hospitals, something it has been accused of under-funding.

Another C$500 million is earmarked for debt reduction, while the remainder will go to a new "sustainability fund" for unforeseen expenses such as fighting forest fires and dealing with other natural disasters. Alberta wants to set aside C$2.5 billion in that account eventually.

On Tuesday, Klein ruled out consumer rebates to deal with high natural gas prices, despite a chorus of calls from cities and municipalities. He said rebates, which Albertans received during the last gas price spike two years ago, are not meant to deal with short term price increases.

($1=$1.49 Canadian)

www.counterpunch.org CounterPunch February 26, 2003 by EDWARD TEAGUE

Dear Tony,

Stand tall, yield to no-one. Your stand by George is to be admired. You need however, to tell the UK electorate the truth.

1. This war is to protect US interests. The US has a massive Trade Deficit, revealed only on Friday for Y/E 2002 @ $460Bn.

2. That means for the US they have to maintain the flow of dollars in world trade / capital flows etc., (Gordon will provide details)--so far this has been mainly supported by the Japanese buying US Bonds, property etc.,

3.However, the euro since launching has shown a very healthy appreciation against the $ caused by;

4. Build up of national Forex reserves in Euros worldwide--UK, Russia, China(see Prodi's visit Sept 2002 with Chirac), and consequent run down of $ rserves overseas--EU etc.,

5. Increasing world trade denominated in euros--EU has bigger share of World Trade than US--set to rise when EU expands.

6.Iraq denominated oil sales inn euros in April 2000 and UN held reserves. Then euro = 83 cents$ now (today) $1.09 a 20% appreciation.

7.Venezuela holding back oil supplies, arranging barter deals. Euro bond market increasing worldwide--eg. Oil producing Maylaysia raised $500Mn $ bonds for State Oil Co.

8. Resulting not only in $/euro decline but increased oil/energy cost in US (e.g gas at the pump up from $1.20 June 2002 to $1.90 plus today.

9.France wants to sell Air Buses in euros. Maximise returns on costs incurred in euros.

10.By the way, don't forget that George II dismissed Kyoto obligations and Under Secretary Bolton (jewish) signed letter to Khofi Annan withdrawing from World Court proposals. (Also factor on counterfeit $'s from Iran and DPRK). When will the drugs merchants want payment in euros?

Therefore as you have seen the only route is for US (unless they sell dollars to buy euros and prompt further decline in the dollar), to use it's second major tool for dominating world affairs and economy--Military force. Hence need for swift, short, sharp resolution at UN. Those not with us(US) are against us--buy off the Turks with aid, sort out post Saddam trade with French and Russians. (Main recipient of Iraqi oil (currently) is US via Russian Oil traders).

Therefore your bold move to support is to be applauded. As everyone knows, Saddam has no weapons of mass destruction (i.e gas, biological nor the means of deliveryo outside Iraq) including all military forces in NATO and UN also know such weapons have limited lethality or use in the battlefield.

Iraq has not and is unlikely to have nuclear weapons or means of delivery in foreseeable future.

Nobody gives a shit about Iraqi people--expendable as, Ruandans, Matabele that Mugabe slaughtered (with North Korean mercenary help) in 1,000's, everyone stood back whilst millions of people lost lives in Iran/Iraq war.

Therefore your policy is not only wise but the only sensible one available.

Be careful however that, if on the "fog of war" the Israelis decide to resolve the Palestinian problem, a la Sabra and Chattila camps.

As a point of solidarity I will be circulating my letter of support for you.

Regards

Edward Teague can be reached at Edward@softwaresystemseurope.com

Yesterday's Features

Gary Leupp The Weekend the World Said No to War: Notes on the Numbers

Jason Leopold Powell Warned Bush About Bloody Price of Unilateral War

Ross Vachon Joe Lieberman: Yankee Tartuffe

Ahmad Faruqui Killing with Sanctions, Then Bombs Estimating Civilian Casualties in Iraq War

Reza Ghorashi Why War with Iraq? What Should Iranians Do?

Craig Axford Environmentalism as Homeland Security

Harvey Wasserman There's Nothing Patriotic About It

Ramzi Kysia Dispatch from Baghdad: Living Against Disaster

Charles Sullivan The Failure of Mass Education

Gilad Atzmon The Birth of the Tragedy: On Reason, Justice and the Victim Mentality

Website of the Day Lysistrata Project