High Oil Prices Require Global Action, Energy Secretary Says

Tight oil supplies and high oil prices constitute a global challenge that requires a global solution, U.S. Energy Secretary Samuel Bodman says.

As demand for oil continues to grow, particularly in emerging Asian economies, developed and developing countries must take part in addressing this challenge, he said at a May 17 conference in Washington.

Producing and consuming nations must work together to ensure reliable supplies of affordable energy, he added.
U.S. Dept. of State