Wed, 8 Jul 19:28:51 GMT17

 

US wants OPEC to stabilize oil price
22 May 2009 20:18:42 GMT
Source: Reuters
(Adds Chu's comments on climate change)

By Tom Doggett

WASHINGTON, May 22 (Reuters) - U.S. Energy Secretary Steven Chu said on Friday he wants OPEC to carry out an oil production policy that will help keep oil and gasoline prices stable "as much as possible."

When Chu travels to Rome this weekend to meet with energy ministers from the Group of Eight (G8) industrialized countries, he will have an opportunity to speak with energy representatives from Saudi Arabia who will also attend the G8 summit ahead of OPEC's May 28 meeting in Vienna.

"Sudden drops and sudden rises (in oil and gasoline prices) hurt everybody equally, and it's that stability that we seek," Chu told Reuters in an interview to preview the G8 meeting.

Chu noted that U.S. oil and gasoline prices "have gone up a bit" in recent weeks, with crude rising $10 a barrel and gasoline jumping 23 cents a gallon since the beginning of the month.

"Another price spike would be bad for the economy and they (OPEC members) know it," he said.

Separately, Chu said the United States will be in a better position at the G8 meeting to talk about climate change, a key objective of the Rome summit, now that a congressional committee this week approved historic legislation to cap and then slowly reduce U.S. greenhouse gas emissions. [ID:nN21298436]

"It's a signal that the United States is now back in the game," Chu said.

The Obama administration has made implementing a plan to slash U.S. greenhouse gases a top priority. Earlier this week, President Barack Obama also announced the government would significantly boost the fuel economy of cars and trucks and cut emissions spewed from vehicle tailpipes.

That was a stark policy change from former president George W. Bush's administration, which withdrew the United States from the international Kyoto accord that aimed to reduce emissions that cause global warming.

"I think given where we have been ... it is very important for the United States to get started in this process and really say as a country: 'We are going to begin to work hard to first limit, then decrease our carbon emissions,'" Chu said.

Chu said he was very hopeful the U.S. Congress would pass a final bill by the end of this year that would establish a U.S. plan to fight global warming. (Reporting by Tom Doggett; Editing by Lisa Shumaker)
AlertNet news is provided by

Background information


Related articles

Breaking stories
Americas G8 agrees to limit global warming; China, India resist

Climate change could boost US dengue fever cases

AlertNet insight
Americas G8 signals on climate change fall short - experts

Aid agency news feed
Africa UMCOR Hotline for July 7, 2009

Blogs
Asia Climate talks need a dose of top-level political will

Maps
Americas MAP: Swine Influenza (as of 29 Apr 2009) - Location Map


Del.icio.us Del.icio.us  |   Digg Digg  |   NewsVine NewsVine  |   Reddit Reddit   
Thumb for /thefacts/imagerepository/RTRPICT/2009-06-19T011532Z_01_JAK05_RTRIDSP_2_CARBON-FORESTS-INDONESIA_mainimage.jpg|/thenews/pictures/JAK05.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-06-04T001809Z_01_SNP106D_RTRIDSP_2_CARBON-FORESTS_mainimage.jpg|/thenews/pictures/SNP106D.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-06-04T001800Z_01_JAK111_RTRIDSP_2_CLIMATE-CARBON-TROPICS_mainimage.jpg|/thenews/pictures/JAK111.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-05-22T001110Z_01_SAO105_RTRIDSP_2_BRAZIL-CLIMATE_mainimage.jpg|/thenews/pictures/SAO105.htm
Thumb for /thefacts/imagerepository/RTRPICT/2009-05-22T001025Z_01_SAO106_RTRIDSP_2_BRAZIL-CLIMATE_mainimage.jpg|/thenews/pictures/SAO106.htm

Houses are developed in a peat area in the Mengkatip district of Indonesia's South Kalimantan April 25, 2009. Within a vast deforested area on Borneo island, Australia and Indonesia hope to ...



URL: http://www.alertnet.org/thenews/newsdesk/N22357733.htm

For our full disclaimer and copyright information please visit http://www.alertnet.org