Samuel Bodman
Samuel Bodman
Samuel Wright Bodman IIIis the former 11th United States Secretary of Energy. He was previously the Deputy Secretary of the Treasury and the Deputy Secretary of Commerce...
ProfessionPolitician
Date of Birth26 November 1938
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It is very hard at this point in time to forecast either length of time where there may be disruptions or where they will occur, ... But I think it likely to be that there will be some disruption in terms of supply of motor fuels.
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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.
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The need to use energy more wisely is particularly acute this year because of the higher prices we expect to see, ... We have had a severe disruption in the last few weeks in the energy infrastructure of this country.
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Beginning last week, we have been in close contact with our federal partners, site managers at various locations of the Strategic Petroleum Reserve, and companies that operate oil refineries to prepare for any disruption in oil production.
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These companies are turning in record profits they have a responsibility to expand,
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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.
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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.
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The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied, ... This sale ensures that refineries have the petroleum they need to keep gasoline and diesel fuel flowing to American consumers while production facilities in the gulf region regain their capacity. As we move forward, we will continue to monitor the overall supply of petroleum available and the needs of the nation as we determine next steps.
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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.
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As the world's largest producer and as the world's largest consumer, our two countries have a special relationship. We are, at least in certain respects, partners.
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We should all be proud of what these students have accomplished, ... Through their ingenuity, their knowledge of design and engineering, and an incredible amount of determination and hard work, they have demonstrated that we can have it all beautiful homes, comfortable homes, and homes that produce all the power they need.
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We have all but four refineries now back on stream and functioning,
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I was very impressed, I have to say, by the capability, by the competence, by the enthusiasm displayed. I came back with an increased level of confidence that they would do what they said they would do.
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Will it make a major difference in the price of gasoline? Based on the numbers that I see, probably not, ... It'll help some, but we have significant refining capacity that is dysfunctional.