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COPYRIGHT 2006 United Press International
Energy Sec: 'Years' of short oil supply
WASHINGTON, April 30 (UPI) -- U.S. Energy Secretary Samuel Bodman says it will be years before suppliers can meet the demand for oil.
Appearing Sunday on NBC's "Meet the Press," Bodman said gasoline prices in the United States have gone up because suppliers have been unable to meet demand from China, India and the United States. He said that is a sign that the economies are strong, but the demand is causing price spikes.
Bodman also blamed the changeover from winter to summer gasoline grades.
"I expect the latter to settle down over the next month or two," he said, "but clearly we're going to have a number of years, two or three years, before...
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