31 January 2011 21:33 [Source: ICIS news]
WASHINGTON (ICIS)--The escalating turmoil in ?xml:namespace>
Charles Drevna, president of the National Petrochemical & Refiners Association (NPRA), warned that instability among nations on whom the
“Developments in the Middle East are yet another reminder of why
Earlier, energy industry analysts cautioned that if the unrest that toppled the Tunisian government and threatens the Egyptian regime should migrate to other energy-producing states of the Arab world, US energy supplies could suffer and fuel costs would rise.
Drevna noted that international upheavals such as those that are now shaking
“Just as a community doesn’t wait for a fire to break out before organising a fire department, our nation shouldn’t wait for a disruption in supplies of oil, natural gas, fuels and petrochemicals before strengthening our own production capacity,” Drevna said.
The NPRA, along with other energy, chemical and general manufacturing interests, have been sharply critical of the Obama administration’s policies restricting domestic
Also, ICIS reported that US crude futures surged upward during the day’s trading “and closed at the highest level since October 2008 in a feeding frenzy in response to the Egyptian crisis”.
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