Highlights from the Remarks of
Secretary Don Evans
To the U.S.-Russia Commercial Energy Summit
Opening Session
Houston, TX
Embargoed until October 1st , 8:30 A.M. EST

The following quotes can be attributed to Secretary Evans:

• I believe the Summit will reveal the tremendous opportunities that exist between our two nations ... opportunities that will add greatly to the quality of life of our fellow citizens ... and to the global supply of energy.
  
  
• And the timing of this summit could not be better. We’re witnessing new projects and partnerships being developed. We’re welcoming each other’s presence in the energy sector. We’ve seen Russian crude arrive right here into the Port of Houston, and then work its way into the American economy. We’re seeing how reforms can improve companies’ performance and value. We’re watching you apply amazing, cutting-edge technologies that protect the environment while exploring and developing the resources that are so critical to global economic growth. We’re also watching the building of additional infrastructure, with plans for even more, that will allow for expanded supply and delivery of oil and gas to the global marketplace.
  
  
• Energy security is one of the greatest challenges we face today. In fact, it was recognized as one of the top priorities in President Bush’s National Energy Policy. Economic growth and stability around the world depend on reliable, affordable sources of energy.
  
  
• We support Russia’s efforts to join the World Trade Organization, which would greatly benefit not only Russia, but the entire world trading community. The Administration has also been working hard with the U.S. Congress to graduate Russia from the provisions of the Jackson-Vanik amendment. The Commerce Department’s decision in June to recognize Russia as a market-based economy recognized what many of you already know: that Russia’s economic reforms and investment climate improvements have entered a new phase. Market economy status is an important step that will lead to expanded trade and investment.
  
  
• We must create the operating environment that will allow businesses to cooperate and thrive – so that they can achieve the important task of meeting the significant increase that is expected in global energy demand.
  
  
• We need to highlight Russia’s progress on tax and legal reforms, such as recent progress by the Duma on Production Sharing Agreement legislation. This important legislation needs to be passed soon so there can be certainty in Russia’s oil and gas investment climate.
  
  
• No matter what policies we make, no matter what trade barriers we tear down, at the end of the day it’s up to the private sector to make it all work.
  
  
• Governments can create the right environment. We can help create the conditions for free enterprise. But we don’t make the deals. We don’t take the capital risks. We don’t create the wealth. We don’t create the prosperity. We don’t create the jobs. We don’t write the checks.
  
  
• Private industry does all that. The workers or our respective countries do that. You business leaders here today do that. And I know you take this responsibility seriously – because that is your job.