Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 5, 2008 6:36:37 AM CDT

Learn about Newser Points »

Back to the grid

Bush Begs Saudi King for Oil

Posted Jan 16, 08 2:31 PM CST in US,  World    Editor's Choice

(Newser) – After his public request for increased oil production and the resulting price drop was rejected yesterday, President Bush made a personal appeal to Saudi Arabia's King Abdullah to be more generous with his wells, ABC News reports. Only an hour after Bush’s public plea, the Saudi oil minister announced the country would increase production “when the market justifies it.”—a polite refusal.

The direct plea to the Saudi monarch means, a White House press secretary said, that there was now “a hope … that OPEC would be encouraged to…increase production.” Bush’s argument to the Saudis was that lower oil prices could avert a US recession: “They know that if our economy weakens … it will affect their ability to sell barrels of oil," Bush said.

Sources ABC News, Reuters

Editor Recommended

Related News

  • Saudis May Boost Oil Supply Even Higher

    Jun 22, 08 4:11 PM CDT
    Saudis May Boost Oil Supply Even Higher A hastily organized summit meeting in Saudi Arabia today offered little relief to oil consumers, Bloomberg reports. The Saudis did vow to increase production if needed, but OPEC blamed speculators and the credit crisis, not markets, for surging oil prices.
    "Saudi Arabia is prepared and willing to produce additional barrels of crude above and beyond the 9.7 million barrels per day," a Saudi minister said. More »

  • Oil-Addicted Bush Must Kick the Habit

    Jun 22, 08 6:32 AM CDT
    Oil-Addicted Bush Must Kick the Habit The American thirst for oil is like a drug addiction, and George Bush wants another hit, writes Thomas Friedman in the New York Times. Bush’s irresponsible energy plan involves getting a little more oil from Saudi Arabia to keep prices low, and then drilling in Alaska—simply prolonging our addiction instead of allowing high fuel prices to push us toward better sources of energy, adds Friedman. More »

  • Saudis Bumping Oil Flow 2% to Slow Soaring Prices

    Jun 16, 08 7:02 AM CDT
    Saudis Bumping Oil Flow 2% to Slow Soaring Prices Saudi Arabia, worried soaring prices could weaken the world's appetite for oil, will increase production by 200,000 barrels a day, beginning next month, the Saudi oil minister told UN chief Ban Ki-moon in a meeting yesterday. The move follows a May increase of 300,000 barrels, the AP notes. More »

  • Saudis to Boost Oil Output to Record Level

    Jun 14, 08 6:14 AM CDT
    Saudi Arabia aims to put the brakes on oil prices by raising output to its highest ever, the New York Times reports. The kingdom resisted calls from President Bush earlier this year to boost production, but is now concerned that record oil prices could lead to lower demand in the long term by cutting economic growth and making alternative fuels more viable. More »

  • Oil Prices Threaten US-Saudi Relations

    Jun 8, 08 6:46 AM CDT
    Oil Prices Threaten US-Saudi Relations The weakening dollar and rising oil prices are marring more than just the American economy: It’s also eroding the long-standing friendly relationship between the US and Saudi Arabia, the Los Angeles Times reports. A bleak economic outlook has cost the US clout with its oil-producing ally. “There’s certainly a perception that the power equation has changed,” said an oil analyst. More »

US President George W. Bush waves from Air Force One before his departure from King Khalid International Airport, Wednesday, Jan. 16, 2008, in Riyadh, Saudi Arabia. Bush is traveling to Sharm el-Sheikh,...   (Associated Press)
US President George W. Bush, left, and Saudi King Abdullah, right, watch the King's personal thoroughbreds march by at Al Janadriyah Farm, Saudi Arabia, Tuesday, Jan. 15, 2008. The horse farm is the King's...   (Associated Press)
US President George W. Bush, left, drinks tea as he sits with Saudi King Abdullah, right, watching the King's thoroughbred horses march by at Al Janadriyah Farm, Saudi Arabia, Tuesday, Jan. 15, 2008....   (Associated Press)
US President George W. Bush, center, returns to his seat with Saudi King Abdullah at Janadriyah Farm, Saudi Arabia, Tuesday, Jan. 15, 2008. The horse farm is the King's personal country and weekend retreat...   (Associated Press)
prev    next
play

Threads (1 of 5)

Tags

George W. Bush  • oil prices  • oil  • Saudi Arabia  • OPEC  • King Abdullah


Loading...

Loading...

Related Threads: Bush 43, Gas Gets Pumped Up, Saudi Arabia, The Prize: Oil, Will the Wells Run Dry?

Next story from this section »

Today's Most Popular


Other World Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »