Just by applying this technique to the oil fields of Western Canada we would see billions of additional barrels of oil and a reduction in CO2 emissions equivalent to pulling more than 200 million cars off the road for a year, |
Last night I approved a company's request for loan from the Strategic Petroleum Reserve. I fully expect that the details of that loan will be released later today, |
Look, the Bush administration is not going to come up with a number. I can tell you what my view is, and I'd like to have another 10 percent of capacity today, ... But that could come either abroad or could come here, but I would like to have something that, in a better world, would relieve some of the pressure on these facilities. |
Many oil producing countries do not operate in a manner consistent with U.S. federal law, but they are not based here. |
Our job is to get the infrastructure going again, |
Technically it's called an exchange of oil that we deliver today and that we will get oil back plus some interest, if you will, in the future. We will be tapping that today. |
The amount of refined product versus crude that they will offer has not been determined, ... Their intentions are to provide the maximum amount of refined product within their requirements. |
The department continues to review other requests as they come in, |
The department continues to review other requests as they come in, ... This administration has been clear that SPR is a national asset that can be used in times of supply distribution, like a natural disaster. |
The great concern is about natural gas, |
The public should be ready for interruptions of supplies for two or three weeks. ... We will be dependent on attracting cargoes (of gasoline) from abroad which are already en route. |
The situation we are facing is a very different one than we faced in the past ... in the Carter administration, ... This is in response to significant damage that has been done to the country's energy infrastructure. |
The SPR was put in place specifically for this kind of an event, ... We now have, in some instances, problems with getting crude to some refineries. |
The U.S. welcomes this historic and unanimous decision by member countries of IEA, ... I believe it is an appropriate response to the disruption that is occurring as a result of the hurricane. |
There are concerns about the supply of natural gas, |