Treasury secretary expects Arab help against oil price levels
WASHINGTON Treasury Secretary John Snow says Arab finance ministers have told him they're committed to bringing down oil prices. He tells C-N-N's "Late Edition" the need is urgent because sky-high gasoline prices in effect impose an undeclared tax on Americans so dependent on petroleum products.
Snow hosted a meeting of Arab finance ministers earlier this month in Washington.
He says the current record high prices act like "a tax, taking disposable income away from people."
The U-S imported nearly ten (m) million barrels of oil per day in 2003, a six-point-six percent increase from 2000. At that time, the price of oil was in the middle to high 30 dollars per barrel range.
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