US to Take Bigger Bite of Iraq’s Economic Pie

The United States is helping the interim Iraqi government continue to make major economic changes, including cuts to social subsidies, full access for U.S. companies to the nation’s oil reserves and reconsideration of oil deals that the previous regime signed with France and Russia.

‘Magic’ hybrid fuel-saving buses fall a bit short on wonders

The fleet of hybrid buses that General Motors
promised would save Seattle more than 750,000 gallons of fuel a year
will actually save less than half that amount, according to the
fleet operator, and although G.M. said the hybrid buses would show a
fuel economy improvement of up to 60 percent, the savings around the
country appear to be in the range of 10 percent to 20 percent,
transit managers say.

Castro announces crude oil discovery

President Fidel Castro said a crude oil deposit has been discovered off Cuba containing up to 100 million barrels, good news for a country that imports about half the petroleum it needs.