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Industry News

U.S. Energy Secretary Voices Natural Gas Concerns

LCG, May 19, 2003-- U.S. Secretary of Energy Spencer Abraham has decided to call a meeting regarding how to increase the nation's natural gas supply.

On Friday Abraham told the National Petroleum Council to expect a meeting this June. Discussion will be aimed at strategies to maximize short term natural gas supply during the summer.

He noted that gas supplies are especially tight because of a long, cold winter in the East, lowered domestic gas production, and decreased importation. According to him, U.S. gas supply is half 2002's and 42 percent less than the average supply over the last five years.

While the Bush administration expects help from the National Petroleum Council, an advisory panel constructed by the government, Abraham did not comment on what particular actions the administration was investigating in order to remedy the short supply.

The National Petroleum Council was established in 1946 and consists of roughly 175 industry and non-industry people from many aspects of the oil and gas market. The Council's members, appointed by the Secretary of Energy, prepare reports on energy as requested by the Secretary of Energy. NPC's website is

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