Cheney: Domestic solutions on energy must be found

During the presidential campaign, George W. Bush was adamant that the OPEC cartel open its spigots and lower prices. But when members of the oil producing nations meet in June, U.S. officials won’t make those demands, Vice President Dick Cheney said Sunday. The key to solving the energy crisis is to create more refineries, he said on NBC’s “Meet the Press.” “The best way to address problems is at home.” Cheney said that prices of crude oil had actually been pretty stable and that the United States wanted to see more stability. He said oil prices — $25 to $29 a barrel — were lower now than they were in the 1980s. Any drop in prices by OPEC would eventually shoot up again, he said, and any large decreases may prevent OPEC nations from discovering new oil fields. The real problem with gasoline prices is that the United States has a very tight processing and distribution system, Cheney said, arguing that a lack of new refineries — combined with strict air quality measures — has hindered production. Cheney’s comments are a stark contradiction to the campaign stance of President Bush, who during a January 2000 debate said U.S. pressure on OPEC was necessary.