January 6: Venezuelan Minister of Energy and Mines Rafael Ramírez announces that the Venezuelan government plans to split state oil company Petroleos de Venezuela S.A. (PdVSA) into two separate entities as part of a large-scale restructuring of the company, most of whose 40,000 workers are currently on strike. Such a decentralization could limit the power of Caracas-based executives who have joined in the strike, which began on December 2, 2002. (NYT) January 12: The Organization of Petroleum Exporting Countries (OPEC), meeting in Vienna, agrees to raise the aggregate production quota of its members (excluding Iraq) to , up from the current , effective February 1. Each member will receive a proportionately higher share of the quota, about a 6.5% increase. (NYT) January 16: Fourteen U.S. corporations or subsidiaries launch the Chicago Climate Exchange, a trading program wherein companies would be able to earn redeemable credits for exceeding emissions reductions goals of 4% of 1998-2001 average emissions over the next four years. Companies unable to meet the goals would buy the credits. The Exchange intends to create means to verify that actual reductions in emissions have taken place. (WP) January 21: The near-month crude oil futures price on the NYMEX settles at $34.61 per barrel, the highest price since November 29, 2000. The market is experiencing a variety of higher price pressures, including the strike in Venezuela, fears of a conflict in Iraq, a cold winter in the United States, and low commercial oil stock levels in the United States. (USAT) January 28: The U.S. Department of Energy approves oil company requests to delay delivery of March shipments to the Strategic Petroleum Reserve (SPR). The announcement will allow of crude oil designated for storage in the SPR, to be marketed to domestic refineries instead. (Reuters) January 29: Striking managers at Venezuelan state oil company PdVSA confirm that oil production has surpassed once again, after falling to as low as during the strike that began on December 2. On January 31, PdVSA President Ali Rodriguez announces that production is at and that 5,300 striking workers have been fired. Opposition estimates of production are much lower at around . (NYT, Reuters) January 29: During his State of the Union Address, President Bush proposes $1.2 billion in funding to support the research and development of hydrogen-powered vehicles. (Reuters) February 3: Indian Petroleum Minister Ram Naik announces that the government of India plans to boost