Just two weeks before OPEC considers another oil production cut that could make already-tight US gasoline supplies even tighter, President Bush said he wants to make energy security a priority of US foreign policy.
Speaking at a swearing-in ceremony for Energy Secretary Spencer Abraham, Bush said he wants to restore ``American credibility with overseas suppliers'' and build strong ties with energy-producing nations in the Western Hemisphere.
”Our objective should not only be to manage the current situation, but to avoid any crisis in the first instance,'' Bush said in outlining four energy policy pillars, the first of which is to ``make energy security a priority of our foreign policy.''
While Bush said working with oil-producing countries would be part of a new US energy strategy, the administration has remained silent, at least publicly, on its position for the upcoming meeting of OPEC oil-producing nations on March 16.
Just prior to OPEC's January meeting, the Bush transition team said a production cut would be harmful for US consumers.
The cartel ended up voting to reduce output by 1.5 million barrels per day anyway. Abraham has already met with several OPEC oil ministers in Washington and spoken with others by phone.
At the White House ceremony, Bush said his new energy policy would seek ``environmentally-friendly'' exploration and production of domestic energy sources like oil, natural gas and coal. Bush said the United States is suffering because of going too long without an adequate energy policy.
``Many Americans are struggling with the high cost of energy,'' he said.
Bush formally asked Congress this week for approval to open the Arctic National Wildlife Refuge in northeast Alaska to oil and natural gas drilling, a move that is strongly opposed by Democratic lawmakers and environmentalists. He also said his administration would seek higher electricity production
``to keep pace with America's growing demand'' and support the development of cost-effective alternative energy sources like wind, solar and geothermal.
”The goals of this strategy are clear: to ensure a steady supply of affordable energy for America's homes and businesses and industries, and to work toward the day when America achieves energy independence,'' Bush said.
© 2001 Mena Report (www.menareport.com)
