Bush: don't expect oil prices

United States President George w. Bush said on 1 February, oil prices determined by the market, consumers don't expect oil prices.

Earlier this week, the biggest oil companies United States Exxon Corporation announced that the company's 2005 fourth-quarter profit of $ 107.1 billion annual profit of $ 361.3 billion, a new all-time high, the highest in the United States enterprises.

United States many political figures on this black look, but the oil industry have set foot in the Bush interview at the date of acceptance of the associated press said, this is only the result of the operation of the market.

When it comes to increasing oil prices soaring, Bush said that consumers don't expect oil prices will fall. He said: "I think the price is basically determined by the market, but also so. ”

Bush also expressed the hope that Exxon and other energy companies continue to invest, in order to improve the United States energy structure. He said: "for example, I very much hope that Exxon can participate in the Alaska gas pipeline construction, thereby allowing the United States of family and small enterprises to have more natural gas can be used to promote economic development. ”

In addition, Bush 1/31/night at the time of publication of the annual State of the Union, the United States should reduce announced on Middle East oil dependence towards 2025 the United States from Middle East oil import 75 per cent reduction. To this end, Bush said, relying on the grain, grass, etc. into ethanol's new technology, this target may soon be realized.

Bush said: "I believe that, by virtue of this new technology, in a relatively short period of time, in my lifetime, we will be able to reduce, if not end dependence on Middle East oil. ”