I know, however, that from where you sit right now, change is coming too slowly. The Administration, Congress, state governors, local governments and industry are doing everything in their power to make certain that markets work, work promptly, and that there are the tools available to ease your burdens and help you through the tough times. An artificial limitation on oil supply is the underlying reason for your high heating oil prices. We have embarked on an aggressive travel schedule to meet with foreign oil ministers to remind our energy trading partners that a partnership goes both ways. I consider these trips crucial to the health of our economy and critical to snaking certain that you can afford to heat your homes.
Oil prices are at their highest point since the Gulf War.
If oil prices stay this high through spring, summer gasoline prices will mirror this winter's heating oil prices. Soon after the price crisis began, I met with 40 industry representatives involved in East Coast heating oil production and distribution to hear their suggestions. A few days after that I convened a Heating Oil Summit in Boston with consumers, industry and local leaders. There I received constructive suggestions on how to avoid a problem like this in the future. Here are some steps we've taken.