Posted on 06/21/2002 12:04:44 AM PDT by grimalkin
WASHINGTON, Jun 20, 2002 (Kyodo via COMTEX) -- The United States would want to make sure that Japan and the European Union (EU) would be prepared to release their oil reserves to prevent supply disruptions if it launched a military attack against Iraq, a senior U.S. government official said Thursday.
In testimony before the House of Representatives International Relations Committee, Alan Larson, undersecretary of state for economic, business and agricultural affairs, said Middle East oil producers would be unlikely to halt oil supplies to the U.S. in case of a U.S. military attack against Iraq.
The administration of President George W. Bush has left open the option of launching a military attack against Iraq to topple Saddam Hussein, whom it accuses of being bent on the development of weapons of mass destruction.
Asked if a retaliatory oil embargo against the U.S. was likely, Larson said, "I don't think it is a given -- no."
He, however, said the Bush administration would prepare for the worst scenario by ensuring that U.S. oil-consuming partners, such as Japan and the EU, "were prepared to make any necessary action to put more oil stocks on the market."
The U.S. would also seek to ensure that "friendly" oil suppliers would be able to maintain, or increase, their production, Larson said.
Reviewing energy initiatives of the Bush administration, Larson said that managing trading relationships with Canada and Mexico, two of four largest U.S. oil suppliers, is a top priority of the administration.
He also said it is also important to build a more productive relationship with Venezuela, a major South American oil producer, and strengthen energy ties with Russia.
2002 Kyodo News (c) Established 1945
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