London (Platts)--9Jun2008

US President George W Bush said Monday ahead of a trip to Europe that he
would stress to the United States' allies the importance of reducing reliance
on hydrocarbons.

The president also said that opening up the Arctic National Wildlife
Refuge in Alaska, as he had proposed to Congress, would "take the pressure
off" gasoline prices, currently approaching $4/gallon.

"We'll remind our friends and allies overseas that we're all too
dependent on hydrocarbons," Bush told reporters at the White House immediately
before departing on his European trip, which will take him to Slovenia for the
US-EU summit, and then to Germany, Italy, the Vatican, France and the UK.

"We must work to advance technologies to help us become less dependent on
hydrocarbons," Bush said.

"I'll also remind them, though, that the United States has an opportunity
to help increase the supply of oil on the market, therefore taking pressure
off gasoline for hardworking Americans, and that I've proposed to the Congress
that they open up ANWR, open up the Continental Shelf, and give this country a
chance to help us through this difficult period by finding more supplies of
crude oil, which will take the pressure off the price of gasoline."