Posted on 21-06-2008
Filed Under (General News) by wormdah

U.S. Energy Secretary Sam Bodman says more oil is needed to bring the Gas prices down. Oil is selling for $140.00 a barrel. He had just came back form a big emergency oil meeting with other world leaders.

Saudi Arabia,Top oil exporter has said they would boost their supply by 200,000 barrels per day (bpd) in July — to the highest rate in decades.

And other major producers with the ability to pump more may join in, according to a senior Gulf OPEC official. Our gas prices will continue to zoom if we don’t get more oil supply. Out of all that oil being produced and it seems like none of them are looking toward alternative fuel answers such as corn or timber. What I ask is why don’t they?

Just know that we here in the US is not the only one suffering, but the whole world seems to be from this report for the US Energy Secretary Sam Bodman.

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