Bush: US must 'get off oil'
Bush Says the US Must 'Get Off Oil' Because It's Obvious High Demand Is Creating High Prices
JENNIFER LOVEN
AP News
Mar 05, 2008 14:49 EST
http://www.rawstory.com/news/mochila/Bush_US_must_get_off_oil__03052008.htmlPresident Bush said Wednesday that the United States has to "get off oil" to reduce dependence on foreign suppliers and declared "it should be obvious" that high demand is creating painful gasoline prices.
Bush's assessment was at odds with that from the 13-nation Organization of Petroleum Exporting Countries, which said before he spoke that it would not put more oil on the global market because crude supplies are plentiful.
OPEC President Chakib Khelil told reporters in Vienna, Austria, that the problems in the U.S. economy were a key factor in the cartel's decision to hold off on any action.
"There is sufficient supply. There's plenty of oil there," he said.
In an address to the Washington International Renewable Energy Conference, Bush said, "It should be obvious to you all that the demand is outstripping supply, which causes prices to go up."
During a Middle East trip in January, Bush urged OPEC to increase production and help ease soaring gasoline prices. Bush also said on Tuesday that it's a "mistake to have your biggest customers' economies slowing down as a result of higher energy prices."
The White House said it disagreed with OPEC's decision to rebuff that request, and that the oil-producing nations themselves could be hurt as well.
"OPEC should not be shortsighted about the economic impact of its production decisions," White House deputy press secretary Tony Fratto said.
Oil prices surged past $104 a barrel for the first time after the OPEC announcement. Gas prices are running over $3 a gallon, and some analysts expect prices to rise to near $4 a gallon as summer driving picks up.
Bush's speech was aimed at touting his administration's efforts to increase the use of renewable energy sources.
The president saluted those at the conference for their "commitment to renewable energy," then joked that his travel habits aren't the best contribution. "I probably didn't help today when I rode over in a 20-car motorcade," he said.