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Sunday, June 22

Fred Business News - Oil production lagging - U.S. official

by maba on Sun 22 Jun 2008 01:16 PM EDT

Fred Business News - The reason for record-high oil prices, which are putting the squeeze on the United States and others worldwide, is that oil production has not kept pace with increasing demands, U.S. Energy Secretary Samuel Bodman said Saturday.

"All nations must be better at conservation, and the U.S. is at the top of that list," said Bodman, who met with journalists ahead of a Sunday international meeting of oil producing and consuming nations focusing on high oil prices.

While some have blamed speculators for driving ... more »

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Fred Business News - Oil production lagging - U.S. official

by maba on Sun 22 Jun 2008 01:16 PM EDT

Fred Business News - The reason for record-high oil prices, which are putting the squeeze on the United States and others worldwide, is that oil production has not kept pace with increasing demands, U.S. Energy Secretary Samuel Bodman said Saturday.

"All nations must be better at conservation, and the U.S. is at the top of that list," said Bodman, who met with journalists ahead of a Sunday international meeting of oil producing and consuming nations focusing on high oil prices.

While some have blamed speculators for driving ... more »

Permanent Link