U.S. Administration Says Oil Prices 'Dangerously High' (nearing $38 per barrel)

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Tuesday September 19 11:35 AM ET U.S. Administration Says Oil Prices 'Dangerously High'

WASHINGTON (Reuters) - U.S. Energy Secretary Bill Richardson said Tuesday that oil prices were ``dangerously high'' and the White House would not hesitate to use all options to fight soaring energy prices.

Richardson declined to say if the release of oil from the nation's Strategic Petroleum Reserve was imminent, but he said oil prices that are currently approaching $38 a barrel are ''dangerously high.'' He spoke to reporters after meeting with Northeast lawmakers.

Richardson reiterated that all options were on the table to protect Americans from rising energy prices but would not say if current market conditions made it more likely that the emergency stockpile of oil would be tapped.

Richardson met privately at the Capitol with lawmakers, who urged the administration to release oil from the Strategic Petroleum Reserve as soon as possible to prevent a spike in home heating oil prices this winter.

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-- Carl Jenkins (Somewherepress@aol.com), September 19, 2000


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