national petroleum council phone 202 393 6100 fax 331 8539 an oil and natural gas advisory committee to the secretary of energy 1625 k street nw washington dc 20006 1656 september 25 2003 honorable e spencer abraham 20585 dear mr on behalf members i am pleased submit you s report balancing policy fueling demands a growing economy this was prepared at your request provide insights market dynamics as well advice actions that can be taken by industry government ensure adequate reliable supplies for american consumers we further recognize importance urgency our recommendations given heightened sensitivity among costs reliability continues vital source raw material will play important role in achieving nation economic environmental quality goals finds recent fundamental shifts north markets have led current conditions higher prices
