Latin American presidents OK energy plan

LA ROMANA, Dominican Republic – Seeking relief from soaring energy prices and dependence on foreign oil, leaders of 10 Latin American nations agreed Saturday to push forward a sweeping energy plan that includes the construction of a liquefied natural gas plant, a hydroelectric dam and a pipeline stretching from Mexico to Panama.

But the most important details of the energy project were postponed, such as where to build a proposed $6.5 billion refinery that would provide up to 360,000 barrels of oil a day.

Guatemala and Panama were the leading contenders for the multinational refinery, billed as the largest project in Latin America since the Panama Canal.

“At this meeting there is not going to be a decision on choosing a location. That is a decision that will go after the investments are made,” Mexican President Vincente Fox told reporters Saturday before a presentation with Dominican President Leonel Fernandez.

AP