Ebel's father, attorney and former oil executive Jack Ebel, "was one of my first friends in Colorado, " Hickenlooper said.

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In 1999 he bought up the Paz Oil Company with Australian Jack Liberman.

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In 2005, when Chevron discovered oil in the subsalt Jack 2 well, the offshore Wilcox emerged as a giant new resource.

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Over the past several months, Iran has been begging OPEC to cut back supply quotas to jack up the price of oil.

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