00:00The Department of Energy, or DOE, is pushing oil companies to secure alternative fuel sources
00:06as a precautionary measure against a worst-case scenario due to the escalating conflict in the Middle East.
00:13Energy Secretary Sharon Garin is scheduled to meet with oil firms today, Wednesday, March 4,
00:18to gain their commitment to the DOE's proposed measures aimed at stabilizing fuel prices.
00:24One of the main proposals is set to encourage companies to look beyond the Middle East,
00:30which currently supplies roughly 98% of the country's crude oil imports.
00:36Oil companies will be asked to explore sourcing fuel from countries like the United States, Canada, and nations in South
00:43America and Africa.
00:45Oil Industry Management Bureau Director Rino Abad stressed that while this is a stopgap measure,
00:51securing a continuous supply will help cap price increases at a reasonable level.
00:57Based on current estimates, the country has a two-month fuel supply,
01:02which is well above the 15-day minimum requirement with no immediate shortage concerns.
01:08pay attention to the Internet of addition Marshals.
01:08O
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