OPEC

Hodel Calls for More Domestic Exploration

US Interior Secretary Donald Hodel has urged Congress to allow further oil exploration in Alaska, saying that new discoveries could reduce US dependence on foreign oil and OPEC's ability to influence investment in exploration by raising and lowering the price of oil. Mr. Hodel told a Congressional subcommittee on 28 May that without more domestic oil production, OPEC will continue to set prices which undercut non-OPEC output and that...