<a href=www.theroyalgazette.com>Picked them up off the coast of Venezuela or Colombia By Karen Smith A Bermudian drug-runner who was sentenced to just 16 months in prison after being caught off the coast of St. Maarten with the Bermuda equivalent of $200 million of marijuana was deported to the Island last night. Winston Franklin Robinson, 60, formerly of Mangrove Bay, served only half of his sentence before being released by prison officials on the Caribbean island. He was deported from St. Maarten yesterday, and was expected to arrive back on the Island on the American Airlines flight after 10 p.m. last night. A Government spokesman said last night: “He has served his sentence and is now being deported back to the country of his birth.” Robinson was arrested on June 25 last year along with five other men after the Dutch Coast Guard intercepted his boat Carl Senior 35 miles off the small Dutch Antilles island of Saba. When Robinson was sentenced in September, prosecutors asked that the six men be sentenced to two years for the charges of transporting and attempting to import the 10,400 pounds of marijuana on the boat into St. Maarten. However, the judge said a substantial part of the indictment could not be proven. During the course of Robinson’s trial, the court heard how his boat had broken down and had been drifting for four days before a US Coast Guard cutter received a radio signal from the vessel and alerted Dutch authorities. A Dutch naval vessel was despatched and four men were arrested on board the boat, which was found drifting and piled high with 142 bales of the drug. Robinson and another man were arrested soon after on a dinghy having headed out to sea in search of help. On sentencing, the judge said the prosecution had not proved the drugs were intended for St. Maarten, where they would have carried a street value of less than $2 million. However, in Bermuda, the street value of the marijuana would have been more than $200 million. Robinson had claimed the drugs were destined for Antigua and that he had picked them up off the coast of Venezuela or Colombia –- he was unsure which country – after being approached in a Curacao bar by a man who asked if he wanted to make some money. But the judge also said the prosecution’s claim that the drugs had been transported, exported and transited when the six were apprehended could not be proved. In the end, he sentenced the men only for possession of the drugs. All six received 16 months, less the time they had spent in prison. The boat was turned over to St. Maarten authorities. Robinson had previously told authorities that he had no desire to return to Bermuda after his sentence, and wished instead to go to Australia. However, he was told that as he was a Bermudian citizen, he must be deported to the Island when he was eventually released from prison. At the time of the case last year, Bermuda Police said they had been watching Robinson’s movements for years as he was believed to have been linked to rings running drugs to the Island. And over the course of the Kirk Roberts trial last summer, it emerged that Robinson had been on board the sailboat that delivered drugs to Roberts in 2000.

<a href=icteesside.icnetwork.co.uk>This has already happened . . . in Iraq in 2000 Mar 23 2003 By Sunday Sun

The US has gone to war to stop it going bust, according to a startling theory about the conflict in Iraq.

Economist William Clark sees the true battle for world domination as being between the American dollar and the euro.

At present, the dollar is the currency used for the buying and selling of the vast oil reserves in the world.

This ensures massive demand for the currency.

A long-standing agreement between most oil-producing nations ensures that much of this cash also has to be spent on US products or invested in its stock market.

The mind-boggling amount of money this involves maintains the US's position as the richest nation in the world.

If the dollar's status as the oil currency was removed, the American economy would go into a tailspin last seen in 1930s Germany where wheelbarrows full of cash were needed to buy a loaf of bread.

For the fuse to be lit, it needed one of the major oil-producing nations to switch to trading in the euro.

This has already happened . . . in Iraq in 2000.

Now more nations are seriously considering their position as a result.

The two other nations George W Bush named, along with Iraq, as belonging to an axis of evil are at the centre of the potential US crisis.

Iran, also a major oil producer, is one of the countries considering whether to switch to the euro.

And North Korea, while not an oil producer, previously used the dollar to trade in as its own currency is worthless on the world market.

It recently switched to euros.

Meanwhile Venezuela, the world's fourth-largest oil producer and the victim of a recent attempted coup backed by the American CIA, is also interested in changing.

Mr Clark said: "The Europeans created the euro to compete with the dollar as an alternative international reserve currency.

"Obviously the EU would like oil priced in euros as well.

"The euro is a significant new factor and appears to be a primary threat to US economic hegemony."

He quoted a former US government official as claiming: "The real reason the Bush administration wants a puppet government in Iraq is so it will revert back to the dollar standard and stay that way.

"Saddam sealed his fate when he decided to switch to the euro in late 2000, and later converted his $10 billion reserve fund at the UN to euros.

"At that point, another manufactured Gulf War became inevitable under Bush II."

The current agreement was drawn up in 1971 between America and OPEC, which represents most oil-producing nations.

It means that every country wanting to buy oil needs to keep substantial reserves of US dollars in their national banks.

This US stranglehold over the world economy is known as "dollar hegemony".

It maintains a stable currency rate in America and provides banks with the confidence to allow America to run up £4 trillion in debts.

However, if the euro took over as the world's oil and reserve currency, this confidence could soon disappear.

The US economy would shrink by up to 40 per cent, or even collapse altogether . . . and the EU would become the globe's top economic power.

Worryingly for the US, Russia and China - both oil producers outside of OPEC and so not bound by the agreement - have already converted some of their cash reserves to euros.

Therefore, according to Mr Clark, Iraq is the whipping boy to show the rest of the world, especially OPEC countries, what will happen if they too back the euro and not the dollar.

In his essay, The Real Reasons for the Upcoming War With Iraq, Mr Clark said: "If OPEC switches to the euro, the oil-consuming nations would have to flush dollars out of their reserve funds and replace these with euros.

"The dollar would crash anywhere from 20pc to 40pc in value and the consequences would be massive inflation.

"You'd have foreign funds streaming out of US stock markets and dollar-denominated assets and the current account deficit would become unserviceable.

"The ultimate result would be the US and EU switching roles in the global economy."

This theory could also explain France, China, Russia and Germany's determination to avoid war. After all, the EU has made no secret that it wants the euro to become the world's reserve currency.

In May 2004 the EU expands from 15 to 25 countries giving it a total population of 450m, compared with the US population of around 250m.

So the EU will have a greater capacity to consume oil.

And its annual wealth - measured as its Gross Domestic Product - will be £6.13 trillion a year, coming close to the US's £6.45 trillion . . . with dollar hegemony.

If the swap from dollar to euro occurred, it would allow China to emerge as a world power in its own right and Russia's strength would also be enhanced.

But what of Britain? What does it get out of supporting the US dollar hegemony?

Although a member of the EU, Britain hasn't yet joined the euro club.

It would be disastrous for Britain if the euro became the world's reserve currency of choice before the UK decides to enter the currency.

The euro would steadily gain value and the UK would be left facing entry at unfavourable exchange rates.

Since losing its empire, Britain has cast itself as honest broker between Europe and the US.

If the US lost its super-power status Britain's "special relationship" would count for less and less in world affairs . . . and its influence could only decline further.

<a href=www2.ocregister.com>An already-stressed public braces for more worries – here's how to cope Sunday, March 23, 2003 By GARY A. WARNER Travel Editor

MULTIMEDIA Interactive Travel Warning Map

THE DRILL: Americans are used to doffing their shoes and getting patted down at airports, but security lines will likely get longer.

The invasion of Iraq may be happening on the other side of the globe, but the effects will be felt by travelers everywhere, from the corner gas station to the local airport.

Short of hiding out in our homes for the duration, there's little hope of avoiding hassle. Any journey is going to reacquaint Americans with the renewed realities of heightened security and uncertainty. Navigating travel in wartime will take extra preparation and patience. It's the price for some kind of peace of mind.

"I think America wants us to be prepared – America wants us to take precautionary measures," Thomas Ridge, Secretary of Homeland Security, said on March 17, the day President Bush issued his ultimatum to Saddam Hussein.

Ridge has even given the heightened domestic security measures one of those names usually reserved for military campaigns: Operation Liberty Shield.

GETTING INFORMED Travelers should start by getting a general security assessment from the Department of Homeland Security, on the Web at www.whitehouse.gov/homeland/.

The home page for the command center in the nation's war on terrorism, it has the latest updates on the color-coded threat levels.

Even the lowest levels mean scrutiny at airports, but the elevated (orange) threat level can lead to tighter border controls, limits to airport and other transportation-center access, and long delays at security checkpoints. A severe (red) threat level could mean the partial or complete shutdown of airports and borders, or at least extremely long delays at security checkpoints.

ON THE ROAD For many Americans who still want to travel during wartime, the answer is to hit the road and stay close to home. Automobile travel is on the upswing again, along with rec reational vehicle use.

The main effect for road travelers will be the high cost of gasoline, which is well over $2 a gallon throughout much of the country and higher in some areas, such as Southern California. Some analysts expect an additional fuel-price spike during the war. Adding to the effects of the war is the unsettled situation in Venezuela, where continuing civil unrest has strangled the flow of oil to the United States.

However, there is little chance of a fuel shortage of the kind Americans went through in the 1970s. Saudi Arabia has promised to open a 50-million-barrel strategic reserve. The United States could also open its own 600-million-barrel strategic supplies if the price spiral continues. The question will be whether gasoline companies and gas-station owners pass their savings to motorists.

To monitor the price of gasoline, check out the Web site www.fuelgaugereport.com. Also check out the Web sites of state auto clubs. Monitor what is going on at the Organization of Petroleum Exporting Countries Web site, www.opec.org.

National and state parks are reporting a high volume of reservations for the spring and summer vacation periods. Check out National Park updates at www.nps.gov.

DOMESTIC AIR TRAVEL The biggest effect will be on the flying public. With the heightened security requirements, airports are instituting new screening procedures, which get tighter as the color-coded threat levels increase.

During orange (elevated) threat levels, airport access can be limited and some roads shut down.

Red (severe) threat levels could mean the partial or complete closing of some airports.

Most airports suggest arriving two hours before a domestic flight. Try to use public transportation because of increased inspections of private automobiles on the access roads and in the parking lots at airports. Restrictions on carry-on items are still in place and will likely be tightly enforced during the higher threat levels.

In response to the war, many airlines have instituted temporary waivers of limits on the lowest priced nonrefundable tickets. Some airlines offer one-time rebooking during specific times in March, while others link their looser policies to whether the government issues a red (severe) threat level. Because there is no common policy among airlines and even differences in rules for tickets at the same airline, find out the rules for your specific fare.

An added concern for travelers is that the war could push already-teetering airlines over the brink. After the terrorist attacks of Sept. 11, 2001, airlines slashed the number of flights by 20 percent. Flight cutbacks could again occur if the war is prolonged or the rebound in travel immediately afterward is not speedy. Check well in advance to make sure an airline has not changed or canceled your flight.

For the current status of air travel in the United States, go to www.faa.gov. A list of what you can and cannot bring aboard a commercial airline flight can be found at www.tsa.gov.

FOREIGN TRAVEL Traveling overseas during the war is cause for both trepidation and opportunity. Consult the U.S. State Department's travel warning list of places Americans should not travel to. A second list includes countries where Americans need to take extra precautions. The lists can be found on the Web at www.travel.state.gov.

Travelers flying overseas are cautioned to arrive three hours before their flights and to be prepared for long lines and multiple security checkpoints. Limit your amount of carry-on luggage to speed your time in line. Make sure your passport is valid – some countries require that you have at least six months of validity left before your next renewal date. Everyone – even infants – must have his or her own passport. Because of heightened security, processing applications is taking longer. It takes at least six weeks for normal service and two weeks for expedited service. For information, go to travel.state.gov.

The only upside of the conflict is that airlines are seeing a steep decline in the number of passengers. As a result, fares are at a 12-year low in some cases – as low as during the gulf war in 1991 – and airlines are waiving many cancellation and rebooking restrictions. If you can stomach the stress, you can take advantage – travel overseas hasn't been this cheap in years. For the best bargains, go to airline Web sites and sign up for weekly updates on sale fares. Travel services Web sites like www.travelocity.com also allow you to enter a limited number of destinations and will send you e-mails when fares drop by more than 1 percent.

CRUISES Some cruise lines are canceling voyages during the war. Others are loosening the refund and rebooking rules for passengers who feel uncomfortable about going to sea during the war. There is no industry-wide standard, so contact individual cruise lines for more information. A good clearinghouse for information is the Cruise Lines International Association trade group, whose Web site is www.cruising.org.

RAILROADS Amtrak does not plan any changes in service. For passengers who have not taken the train lately, be aware that new security restrictions limit carry-on luggage to two bags per passenger (not including personal items such as laptops or purses). Bags must be tagged with the name and address of the passenger. Information: www.amtrak.com.

ANTI-AMERICANISM ABROAD Whatever your position on the war, you are an American. Many travelers fear they will be treated coolly even in countries like Britain – where the government supports the war, but polls show most people do not. France in particular has been a source of some worry for foreign travelers. The U.S. State Department cautions Americans traveling abroad not to call undue attention to themselves and to stay away from any public demonstrations.

Emmanuel Gagniarre, a spokesperson for the French Embassy in Washington, said the fear of a rude reception is understandable but unfounded.

"I understand that some Americans might be afraid " Gagniarre said. "The fact is that it's not the case. Americans should not fear anything. They are welcome. They will enjoy their trip as millions have before them, no more, no less. My message is that relations are always easier when they are approached in an adult manner."

CONTACT US: Warner can be reached at (888) 436-0026 or by e-mail at gwarner@freedom.com

Unrest... By Somini Sengupta March 24 2003

Unrest ... members of the Ijaw ethnic group fled from Warri in the oil-rich Niger Delta as oil majors declared force majeure on Friday.

Though oil prices fell to a three-month low on Friday as US-led forces advanced into Iraq, a new threat to supplies is building in West Africa: ethnic conflict has begun to limit oil shipments from Nigeria and could complicate US refiners' efforts to produce more petrol for the Northern Hemisphere spring and summer.

Royal Dutch-Shell, the largest oil producer in Nigeria, invoked force majeure on Friday, effectively warning customers that events outside the company's control could delay oil deliveries by up to two weeks from its Bonny and Forcados terminals.

ChevronTexaco made a similar announcement on Thursday, though the group did not specify the potential duration of the delays from its Escravos terminal.

In making the announcements, officials with both companies sought to play down the effect of the violence in the oil-rich, but volatile, Niger Delta, emphasising that production continued in other parts of the area. However, both companies have evacuated their employees from the delta.

Simon Buerk, a Shell spokesman in London, said that the company had reduced production by 176,000 barrels of oil a day because of the clashes in the delta. Normally, Shell pumps an average of about 800,000 barrels a day from Nigeria.

ChevronTexaco, whose average production hovers around 460,000 to 470,000 barrels a day, has lost about 140,000 barrels a day, according to Sola Omole, a company spokesman in Lagos.

While civil strife frequently disrupts exports from Nigeria, some oil analysts warned that with so many problems bedevilling world oil markets, a prolonged reduction in Nigerian oil shipments could send prices higher once again.

"This has been building for months but it has been tremendously overshadowed by events in Venezuela, then Iraq and the cold winter we've had," said John Kilduff, senior vice-president of energy risk management at the New York office of Fimat USA, a unit of the French bank Societe Generale.

"Nigeria is a key source of supply and, in this kind of situation, we need every barrel."

Lately, oil markets have focused almost exclusively on Iraq, with prices falling as American and British forces advanced with little resistance. The price of oil for May delivery fell $US1.21, or 4.3 per cent, to $US26.91 a barrel at the end of trading on Friday on the New York Mercantile Exchange. The near-month oil contract had not closed that low since December 4 last year.

In December tensions in Venezuela sparked a nationwide strike that brought oil exports to a halt. The concern among analysts is that events in Nigeria could similarly blindside traders.

The ostensible cause of the violence in the Niger Delta is the way political representation has been apportioned in advance of Nigeria's April 19 elections, when the country is attempting its first peaceful transition from one civilian government to another since independence in 1960.

The fighting, which began on March 12, pits two of the largest ethnic groups, the Ijaw and the Urhobo, against the Government of President Olusegun Obasanjo, whom they accuse of favouring minority Itsekiris in the design of the election.

The violence has continued unabated between armed militias from those ethnic groups and the Nigerian military, killing at least 10 soldiers and an untold number of villagers from the region. The Ijaw have long complained about political representation and limited access to the oil riches of the delta. This week, they threatened to disrupt oil facilities if the Nigerian military fired on them.

With elections approaching, bringing fears of escalating political violence, hundreds of civilians have fled the delta in recent days, some crowding into oil terminals in hopes of being airlifted by oil company helicopters.

Members of the Itsekiri tribe filled a ChevronTexaco terminal earlier this week after their villages were attacked. Helicopters hired by the multinationals to evacuate their own workers were also used to ferry villagers to the southern port city of Warri. Local leaders reported that a dozen villages had been raided. Officials at the Nigerian army command centre in Warri refused to comment on Friday night.

Nigerian crude oil is a coveted light sweet oil that yields more gasoline and diesel than sour grades of crude. While a great deal of oil is on its way to the US from the Middle East, it is nearly all sour crude.

"I think the loss of volume is interesting but it's the quality of the crude that is more important," said Lawrence Goldstein, president of the Petroleum Industry Research Foundation in New York.

Refiners on the east coast of the US are significant importers of Nigerian crude oil, said Aaron Brady, senior oil analyst with Energy Security Analysis. Moreover, European countries import a lot of Nigerian crude to turn into diesel fuel, sending the excess petrol to the US, he said.

The New York Times

"But you do get periods of famine between times" By Ian Porter March 24 2003

A surge in polyethylene prices has reduced the adverse effects on Orica's earnings of the struggling Qenos, although the Botany operation is still recovering from January power outages.

A leading analyst has singled out Qenos as an earnings recovery story in the next financial year on the strength of a recovery in world polyethylene prices.

The prices had rebounded from $US550 ($930) a tonne last year to $US700 a tonne, Orica managing director Malcolm Broomhead said on Friday.

"It is a business that, when the polyethylene price is up - and it can reach $US1000 a tonne - throws off an enormous amount of cash, and you get these feasts.

"But you do get periods of famine between times," he added.

In a research note released late last week, ABN Amro predicted that Qenos would produce "a vastly improved" result in 2003-04.

While acknowledging the danger of an oil price spike, ABN Amro expects oil prices to return to a more normal level of about $US26 a barrel by the end of 2003.

The current combination of oil price ($US30) and polyethylene price ($US675) means that a recovery from a loss of $25 million this financial year to a profit of $5 million "is not just a case of wishful thinking".

Mr Broomhead would not be drawn on the board's attitude to the Qenos book value of $136 million but he said directors were still optimistic about a sale eventually.

"It is one of those business which will suit someone's portfolio but does not suit ours.

"There will be people who will look at its cash flow and will like it."

Mr Broomhead said Orica wanted to sell its stake because the earnings were too volatile.

"Over the last three or four years the changes that have occurred in our business portfolio have moved us away from being a deeply cyclical stock with those sort of assets."

Orica's businesses now were "pretty predictable", where the volatility was significantly reduced "and Qenos just does not fit with that".

Mr Broomhead said the explosives division was travelling "very well" around the world, despite the one-month strike in Venezuela, which might trim an estimated $500,000 from earnings before interest and tax.

Prices for explosives services had been "pretty good" and Orica has recently rolled over several contracts, including the key Rio Tinto deal.

"We are having a good year in Australia [and] Asia," he said. The domestic market has long been the division's earnings powerhouse.

Demand was strong and the company was spending $50 million to increase production at Kooragang Island (formerly controlled by Incitec) and $10 million to boost output at the Yarwun plant in Queensland.

He said that profit margins in the North American market were holding up.