Friday, May 16, 2008


Bush in the 2000 campaign.

BUSH: No, I don't. I think I agree with the energy secretary that the strategic petroleum reserve is meant for a national wartime emergency.

What I think the president ought to do is he ought to get on the phone with the OPEC cartel and say we expect you to open your spigots. One reason why the price is so high is because the price of crude oil has been driven up. OPEC has gotten its supply act together, and it's driving the price, like it did in the past. And the president of the United States must jawbone OPEC members to lower the price.

And if in fact there is collusion amongst big oil, he ought to intercede there as well.

I used to be in the oil business. I was little oil -- really little oil. And so I understand the -- I understand what can happen in the marketplace.

January of this year:

RIYADH, Saudi Arabia — President Bush on Tuesday urged Saudi Arabia and other members of OPEC to consider the strain the high cost of oil was having on the American economy, addressing an issue that has begun to color the last year of his presidency and dominate the presidential election campaign.

Bush now:

RIYADH, Saudi Arabia — With the price of oil hitting record highs, President Bush used a private visit to King Abdullah’s ranch here Friday to make a second attempt to persuade the Saudi government to increase oil production and was rebuffed yet again.