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Gas supplies look tight for immediate future

U.S. gasoline supplies will be tight this summer as refiners phase out a water-polluting fuel additive and replace it with ethanol, U.S. Energy Secretary Sam Bodman said Friday.
/ Source: Reuters

U.S. gasoline supplies will be tight this summer as refiners phase out a water-polluting fuel additive and replace it with ethanol, U.S. Energy Secretary Sam Bodman said Friday.

However, Bodman said U.S. ethanol stocks look adequate to meet demand longer term.

"We're going to see some problems" in the short-term, Bodman told reporters after giving a speech to the American Association for the Advancement of Science.

For the long term "I do believe we'll have adequate supplies of ethanol," Bodman said.

Bodman said he was not aware any profiteering by U.S. oil companies.

"We continue to watch that," Bodman said.