12-03-08 The Organization of Arab Petroleum Exporting Countries (OAPEC) underlined international energy security as a shared responsibility between oil producers and consumers.
Both sides are required to support the view through face-to-face dialogue in order to come up with a consensus over the reality and future of world energy, it said in its monthly bulletin. It is the natural right of every state to ensure economic and security stability, but energy-bearing issues can not be tackled in a unilateral manner, the OAPEC said.

It quoted US President George W. Bush as having recently stressed his country's orientations towards reducing reliance on oil by 2020, spurring alternative energy such as solar and wind energy, and using technology in clean coal production.
The US seeks to put an end to its reliance on oil as a key source of energy for considerations pertinent to environment and energy security, it added.

This has led to uncertainty over the US position on the future of oil consumption especially as such remarks came following Bush's recent tour of the Middle East region, during which he urged regional leaders to increase oil production to rein in uncontrollably soaring oil prices worldwide, the OAPEC said.
It ascribed high oil prices to US oil refining problems, financial funds' policies, speculations, dollar depreciation and tensions between the US and some oil producers.