[Weekly Compilation of Presidential Documents Volume 36, Number 13 (Monday, April 3, 2000)]
[Page 641]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the OPEC Production Decision and the Legislative Agenda for 
Energy Security

March 28, 2000

    Today's announcement that OPEC members will increase production is a 
positive development. These increases will help sustain worldwide 
economic growth and provide greater balance between oil supply and 
demand. While oil prices are projected to fall this year, we will 
continue to closely monitor developments in world oil markets in the 
coming months.
    Congress should waste no more time in getting to work on the 
critical measures to improve America's energy security that I have 
proposed. Congress has failed to act on energy security measures, 
including new tax incentives to support domestic oil producers, tax 
incentives and investments to promote the use of alternative and more 
efficient energy technologies, the establishment of a regional home 
heating oil reserve, and reauthorization of the Strategic Petroleum 
Reserve. These measures should be passed into law without delay.