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Follow-up to Oral Testimony ‘Hearing to Examine the Rise of Domestic Energy Prices’
This statement from the Rocky Mountain Institute (RMI) to Senator Olympia Snowe proposes a series of short-term measures to reduce U.S. demand for conventional crude oil by 5% to 9%. RMI argues that such a reduction would stabilize global oil prices by increasing excess capacity to between 2.5 and 3.8 million barrels per day, thereby mitigating the impact of price shocks and speculation.
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Document type: Statement
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