The Car and Truck Fleet and Leasing Management Magazine

Energy Secretary Blames Oil Prices on Rising International Demand

May 02, 2006

WASHINGTON, D.C. --- During an appearance on NBC’s “Meet the Press,” Energy Secretary Samuel W. Bodman said that the nation’s oil price crisis stems from growing demand from such countries as China and India and that suppliers would not be in position to meet such demands for another two to three years. “The suppliers have lost control of the market,” Bodman said. During an appearance on “Fox News Sunday,” White House Chief of Staff Joshua B. Bolten discussed President Bush’s energy plan to deal with rising gas prices: loosening regulations on fuel ingredients, providing incentives for production and purchase of hybrid vehicles, and reducing the amount of oil designated for the national strategic reserve. But, Bolten conceded, these measures would have minimal impact on prices in the short term.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

The Ford Transit Connect is a van designed to meet the specific needs of small-business proprietors, taxi fleets, and commercial fleets of any size.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher