Sam Bodman
Sam 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...
capacity critical crude days gasoline past pipeline remain seen several ship slowly
Over the past several days we have seen the capacity to ship gasoline by pipeline slowly return, so it is critical that our refineries remain supplied with crude oil,
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Kuwait and other OPEC states have acted responsibly during the oil crisis and made available additional quantities of oil,
call funds goal productive
Our goal here is to call for reinvestment of the funds in productive resources,
crude event flow interferes oil
SPR was put in place specifically for this kind of an event -- something that interferes with flow of crude oil through our refiners and then to our citizens,
asset clear continues department national natural requests review supply
The department continues to review other requests as they come in. This administration has been clear that SPR is a national asset that can be used in times of supply disruption, like a natural disaster,
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We are prepared to do what is necessary with respect to strategic reserves,
amount charitable difficulty
We're all for charitable giving, ... when it comes to a stipulated amount that is where I have difficulty.
expect reflected time
We would expect that over time that would be reflected at the pump,
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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,
build industry people responsibility
Obviously, the industry has made a lot of money. They have a responsibility to the American people to build new refining capacity,
profits support
There's no way that we would support a windfall profits tax,
both businesses challenge countries process russia undergoing work
Russia has been undergoing a process of change, ... That has made it a challenge for businesses in both countries to work out appropriate relationships.
companies eager encourage invest oil profits sector
encourage the oil companies to invest their significant profits back into the refining sector -- that's what we're very eager to see.
simply
There will be disruptions, ... How long they will last, I simply don't know.