Samuel Bodman Oil Quotations

Technically it's called an exchange of oil that we deliver today and that we will get oil back plus some interest, if you will, in the future. We will be tapping that today.

To meet our obligations as a member of the International Energy Agency, the United States will release 30 million barrels of crude oil from the Strategic Petroleum Reserve, ... We will offer the oil for bid.

Many oil producing countries do not operate in a manner consistent with U.S. federal law, but they are not based here.

By and large, they seem to be understanding that we have a situation where there needs to be more oil rather than less oil in the world. There seems to be a commitment to it.

Beginning last week, we have been in close contact with our federal partners, site managers at various locations of the Strategic Petroleum Reserve, and companies that operate oil refineries to prepare for any disruption in oil production.

With the Reserve fully operational, we will be able to start delivering this oil as soon as tomorrow,

It's important for our people to know that we understand the situation and we're willing to use the Strategic Petroleum Reserve to mitigate any shortfall in crude oil that could affect our consumers,

Just by applying this technique to the oil fields of Western Canada we would see billions of additional barrels of oil and a reduction in CO2 emissions equivalent to pulling more than 200 million cars off the road for a year,

The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied, ... This sale ensures that refineries have the petroleum they need to keep gasoline and diesel fuel flowing to American consumers while production facilities in the gulf region regain their capacity. As we move forward, we will continue to monitor the overall supply of petroleum available and the needs of the nation as we determine next steps.