Bush Energy Secretary: Soaring gas prices could last THREE MORE YEARS

[Bush_Eats_Beef]

http://www.msnbc.msn.com/id/12531620/

Gasoline prices have soared an average of 60 cents a gallon in less than a month because suppliers are unable to keep up with demand, a situation that could persist up to three more years, Energy Secretary Samuel Bodman said Sunday. Bodman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush, but he acknowledged that, at least for now, “the suppliers have lost control of the market.”

“The oil has gone up because the suppliers are unable to make the flows equal to the demand,” he said. “... Clearly, it’s going to be a number of years, maybe two to three years, before suppliers are going to be able to keep up with those demands.”

Bodman blamed demand from China and India, reduced refining capacity after Hurricane Katrina, and inadequate planning for shifts to cleaner fuels like ethanol and low-sulfur diesel for causing market “dislocations” that led to rising prices, but Red Cavaney, president of the American Petroleum Institute, the industry trade group, said the war in Iraq played a major role, too.

U.S. companies have been unable to provide the Iraqis with technical assistance to revive their oil industry because “we make sure that we don’t put our employees in harm’s way,” he said. “As soon as you can stabilize the situation in Iraq, they can ramp up production, but it’s going to take years.”

[Vickers]

1. "the shortfall was a sign of a stronger economy under President Bush"

:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

[unblock]

5. yes, stronger economy

in india and china, that is....

[rzemanfl]

2. A lot of people seem to be "losing control" in this "stronger

economy under *!"

[Jim Sagle]

3. The more control these guys lose, the richer they get. Nice for them.

[rzemanfl]

12. Only in BushWorld is incompetence lavishly rewarded. n/t

[kurth]

4. Yep, for as long as the Evil Moron is in the White House

What a coincidence.

[Booster]

6. I think there's a simple reason for this; these guys know alternative

energy is just around the corner and they are going to get as much as they can before that happens. It me, there just doesn't seem to be any other answer, since they are making billions in profits right now.

[Sinti]

10. I hope you're right on that, and that they can't find a way to make it

their next high profit commodity. They're working hard on making sure hydro is owned by them. I expect we'll soon have private water. When they're done wrecking the environment we'll have to pay for air, the regular stuff won't be breathable without becoming terribly ill -- like regular rain, river and ground water is now. Huge investments in KY for those who can afford it would be wise.

[Jayhawk Lib]

11. The best way to keep alternative

energy off the market is make oil and gas cheaper not higher. When alternative energy, what ever it might be, is developed it will come from the private sector not the government sector.

Lower energy prices will not encourage development of alternative forms of energy

[Ecumenist]

7. I suppose that period of time just HAPPENS to coincide with what

what may be the rest of his pResidency or is it just me? :eyes: Does anyone else notice this?

[MikeNearMcChord]

8. I guess it means for the Republicans

that they may face 1932 all over again,kissing oil company backside while kicking Joe Lunch-bucket's. Enjoy that long stay out of power, who knows maybe in the next century. That first GOP president elected since 2004, may be a Gay part Black, part Latino agnostic.:smoke:

[DemoTex]

9. Does that translate into three more years of BigOil profiteering?

Never mind. I know the answer to my question. We are being steam-rolled by the Bu$hco/BigOil Windfall Profit Express. What Enron did to California is chicken-shit compared to what Bu$h/Cheney and BigOil are doing to the country. And they are laughing out loud in our faces.

[tularetom]

13. He's full-o-shit they aren't going to last 3 years

They're gonna last forfuckinever, dipshit, or at least til the oil runs out. The less oil they have to sell the higher the unit price has to be or their profits will take a dump and their stockholders will be pissed. The CEO's might have to take a pay cut and retire with only $200 million.