ENERGY: How Grim Was My Valley

How Grim Was My Valley

Infested with terrorists, bandits and drug thugs, Peru's Upper Huallaga Valley would seem to be one of the least hospitable places on earth for a major U.S. company to go in search of resources. Yet Mobil Oil is hard at work on a $107 million project to explore for oil and natural gas in the energy-rich jungle region, which happens to produce nearly half the coca leaves used to supply Americans with cocaine.

"If you are looking to find large new reserves," explains Mobil spokesman John Lord, "you simply have to go to the more remote regions of the world." However,...

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