Venezuela's Chavez proposes OPEC plan to aid poor countries

Venezuelan President Hugo Chavez proposed Tuesday that the world's petroleum-producing nations come up with a plan to aid poor countries struggling with rising oil prices.

Chavez said if oil prices top $100 a barrel as expected, he would ask members of the Organization of Petroleum Exporting Countries to consider "a formula" that would allow OPEC to funnel revenue from oil sales to developed countries into social programs for the poor in Africa, Asia and Latin America. (AP)