President Bush Unable to Convince Saudis to Lower Oil Prices
PRESIDENT BUSH UNABLE TO CONVINCE SAUDIS TO LOWER OIL PRICES
April 27, 2005
WASHINGTON, DC - As gasoline prices in West Virginia remain obscenely high, U.S. Rep. Nick J. Rahall (D-WV) continues to voice his displeasure with the lack of action by President Bush to solve the crisis. "This is week four of the gas price crisis in West Virginia and week four of the Administration's lack of action to solve the crisis," said Rahall.
Although President Bush met with Saudi Crown Prince Abdullah on Monday, he was unable to secure a promise to increase short-term oil production. This meeting was the latest in a series of meetings between Administration officials and Saudi officials, which was kicked off by Vice President Dick Cheney meeting with Abdullah. Although oil prices and gas production have been discussed in each meeting, the Administration has been unsuccessful in securing a promise from the Saudis to increase oil production.
"Enough talking and politicking already! This Administration needs to take some action and get these gas prices back down to earth," said Rahall. "The President has been talking about pressuring OPEC and the Saudis since he was running for election in 2000, but his rhetoric is hollow. These prices are not coming down and he's not achieved anything to lower them."
Rahall is referring to statements Bush has made in the past, including a quote by Bush in 2000 while campaigning for President in New Hampshire. "The President of the United States must jawbone OPEC [Organization of the Petroleum Exporting Countries] members to lower the price and say [to OPEC] 'We expect you to open your spigots,'" Bush said in 2000.
"Saudi Arabia is OPEC's largest and most influential country," noted Rahall. "It is a sad day for America when our President cannot convince Saudi officials to lower oil prices or increase output. While he continues to talk about solutions to the media, his failure to provide a solution or provide any action at all is devastating to hard-working West Virginians."
"These gas prices are taking money directly out of the wallets of West Virginians and handing it to the Big Oil companies and the OPEC countries," said Rahall. "The Saudis are enjoying huge profits on the backs of every American who drives a car, rides a bus or travels by plane. The President had an opportunity to end this and he let it slip through his fingers again."
http://www.rahall.house.gov/issues2.cfm?id=10488