White House: DOE’s Bodman To Lead Delegation At Saudi Oil Mtg

WASHINGTON (Dow Jones)–Energy Secretary Samuel Bodman will lead the U.S. delegation at the June 22 conference on oil prices in Jeddah, Saudi Arabia, the White House confirmed Wednesday, ending speculation that President George W. Bush would attend the session.

“He’ll stress that the price increases we’ve been experiencing have been the result of this really dramatic imbalance between supply and demand in the global markets in the past few years,” White House spokesman Tony Fratto said. “He’ll challenge all nations of the world, both producing and consuming, to take responsible and direct actions to meet global demand in environmentally sustainable ways.”


Fratto said Bodman will also push for more investment in the development of traditional hydro-carbon resources, including the need for more a open and transparent investment and regulatory climate.

Bodman will be joined by Treasury Under Secretary for International Affairs David McCormick, Under Secretary of State Reuben Jeffery, and the Energy Information Agency’s Guy Caruso.

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