Washington (Platts)--18Jul2007

US Energy Secretary Samuel Bodman Wednesday said the US remained
"concerned" about continued high world oil prices.

     In mid-morning trading on NYMEX, the light, sweet crude contract was
around $74.58/barrel, up by 56 cents/b from Tuesday's settle.

     The issue seems not to be lack of supply, but problems with US refining
capacity, according to Bodman. "We're up from the bottom (of refining
capacity), but not where we want them to be," Bodman told reporters following
a briefing on a National Petroleum Council report delivered to him earlier in
the day.

     Bodman, asked if the US needed to further pressure OPEC to increase oil
production and exports by its members, said: "We will look hard at that," but
he reiterated his belief that the lack of US refinery capacity was the primary
factor behind surging prices.

		--Cathy Landry, cathy_landry@platts.com