US appears relaxed over petrol prices

After all the talk of curbing America's thirst for oil, President Bush's Energy Secretary now says the problem will sort itself out.

Samuel Bodman told reporters he believes the oil squeeze is a transitory thing.

The Energy Secretary claims the issue can be solved without addressing the US demand for oil, problems in the international marketplace or developing alternate fuel technologies.

Mr Bodman believes suppliers will be in a position to meet demand in two to three years.

However, he offered no insight into how suppliers will get into that position or how increased demand from India and China could affect the situation in years to come.

- NEWSTALK ZB