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
affect crude mitigate oil people petroleum reserve situation strategic understand willing
It's important for our people to know that we understand the situation and we're willing to use the Strategic Petroleum Reserve to mitigate any shortfall in crude oil that could affect our consumers,
crude problems
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.
decline expect function price
I would expect there to be some decline in price but that is a function of the marketplace,
certainly companies crude help supply whereas
certainly help those companies and those refineries to function, whereas they wouldn't be functioning without a supply of crude oil.
continues corners demand domestic earth far gas natural needed precisely production receive run time
The construction of new terminals to receive natural gas from the far corners of the earth is precisely what is needed at a time when our own domestic production has run flat, yet demand continues to increase.
asset clear consumers economy event including major national natural petroleum protect reserve security strategic supply
The administration has been clear that the Strategic Petroleum Reserve is a national security asset that can be used to protect American consumers and our economy in the event of a major supply disruption, including natural disasters,
assessment hard return
How long before we return to normal? It's hard to know, because we have not yet got an assessment
acute disruption energy expect few higher last prices severe weeks wisely year
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.
capacity couple delayed guess roughly starting
It's roughly 4% to 5% of the American refinery capacity will be delayed and starting up I would guess in another couple of months,
companies profits record responsibility turning
These companies are turning in record profits they have a responsibility to expand,
certain countries largest producer special
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.
beginning close companies contact disruption federal last locations managers oil operate petroleum prepare site strategic various
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.
based capacity difference help major numbers price
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.
four stream
We have all but four refineries now back on stream and functioning,