The Great Oil Race: Cheney Discovers U.S. is Losing Out to China

Insight on the News – Vice President Dick Cheney has been entrusted with a task regarded as vital to bolstering the Bush administration’s sagging political popularity: the search for additional crude oil in order to help stabilize U.S. gasoline prices over the next few months.

Mr. Cheney was recently sent to Central Asia and other regions to coax allies to significantly increase supplies to stabilize U.S. gasoline prices for the summer. Administration sources said Mr. Cheney has run into significant difficulties as he has found that many of the potential suppliers have become committed to China.

“We’re in a race with China and so far we’re losing,” an administration source familiar with Mr. Cheney’s trip said.
Insight on the News