"To recognize the seriousness of the problem, and pass a law that encourages exploration for oil and gas in the United States so that down the road a US president will go as a producer, not a consumer....In the interim term, we need to be finding more oil and gas. In the longer-term, we ought be diversifying away from our reliance upon oil."
President George W. Bush calling upon the US Congress to encourgage the exploration of new oil and gas reserves.
"The problem revolves around the economic crisis in the US, which has led to a weakening of the dollar as well as threats against Iran, which has created geopolitical tensions."
Algerian Prime Minister said in relation to the price of oil. He discarded other factors such as oil market fundamentals, insisting that at this time these "are not influencing oil prices".
Updated: June 13, 2008
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