www.xinhuanet.com
XINHUA online
CHINA VIEW
VIEW CHINA
 Breaking News Bathhouse fire kills 4 in S. Korean city of Daegu    2 killed in truck explosion in Russia's Dagestan    Explosions, fires rock flooded New Orleans: CNN    Roadside bomb kills 5 Iraqi soldiers north of Baghdad    US soldier shot dead south of Baghdad    US warplanes raid insurgents hideout in W. Iraq    
Home  
China  
World  
Business  
Technology  
Opinion  
Culture/Edu  
Sports  
Entertainment  
Life/Health  
Travel  
Weather  
RSS  
  About China
  Map
  History
  Constitution
  CPC & Other Parties
  State Organs
  Local Leadership
  White Papers
  Statistics
  Major Projects
  English Websites
  BizChina
- Conferences & Exhibitions
- Investment
- Bidding
- Enterprises
- Policy update
- Technological & Economic Development Zones
Online marketplace of Manufacturers & Wholesalers
   News Photos Voice People BizChina Feature About us   
IEA warns of worldwide gasoline crisis
www.chinaview.cn 2005-09-03 01:20:13

    PARIS, Sept. 2 (Xinhuanet) -- The International Energy Agency (IEA)warned Friday that a gasoline supply crisis in the United States, if it should occur in the aftermath of Hurricane Katrina, would belikely spread rapidly worldwide.

    The oil market in normal times "is very fluid across the Atlantic and when there is a crisis in the United States, prices rise on the US market and that leads to more oil companies sellingin the United States than in Europe," said IEA's head Claude Mandil in an interview with French newspaper La Croix.

    "There is no doubt that if in the aftermath of Hurricane Katrina a gasoline crisis occurs it will spread very rapidly at the world level," he added.

    As to a possible use of strategic supplies of other member countries of the 26-member IEA, he said that the Paris-based agency would "carry out its mission, which is to make strategic supplies available to the market if the cut in supply is serious."

    "If there is a shortage of gasoline and domestic fuel, the strategic reserves being essentially in Europe, they will be drawn on -- but for the whole world," he said.

    According to US government data, Hurricane Katrina has shut down an estimated 90 percent of crude production and 79 percent of natural gas output in the Gulf of Mexico, which accounts for a quarter of the total US oil output. Enditem

  Related Story
Copyright ©2003 Xinhua News Agency. All rights reserved.
Reproduction in whole or in part without permission is prohibited.