World Oil, US Gas Markets To Remains Tight -Bodman

Tight U.S. natural gas and world oil markets that have produced rising prices and stress on consumers won’t ease up soon, U.S. Energy Secretary Samuel Bodman said Wednesday.

Oil producers will struggle for years to keep up with strong growth in demand, Bodman said, a view that contradicts some analysts’ more sanguine forecasts.

The gap between “the magnitude of increased consumption and the capacity of producers to respond will take some years to close,” Bodman said.
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