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Saudis Rebuff Bush, Politely, on Pumping More Oil
Sheryl Gay Stolberg and Jad Mouawad, New York Times
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RIYADH, Saudi Arabia – President Bush used a private visit to King Abdullah’s ranch here on Friday to make another appeal for an increase in oil production that might give American consumers some relief at the gasoline pump. The Saudis responded by announcing they had decided a week ago on a modest increase of 300,000 barrels a day.
The White House said the increase would not be enough to lower gasoline prices, which are nearing $4 a gallon, and industry analysts called it mostly symbolic.
But Mr. Bush’s request, his second in five months, coupled with rising anti-Saudi sentiment in the Democratic-led Congress, underscored the growing tensions between the countries over oil.
(17 May 2008)
No Oil For You
Kevin Drum, Washington Monthly
… In other words, the Saudi response was not materially different from “Piss off.” At this point, the only really interesting question is whether they’re throttling their supply because they want to or because they have to. As time goes on and prices keep going up, I’m inclining more and more toward the latter.
UPDATE: It turns out that the Saudis are increasing their production after all. The increase is only a token 300,000 barrels per day, so it’s not clear what’s really going on here. A face-saving measure for Bush? Or something else?
(16 May 2008)
U.S. says it will help Saudis protect oil
Reuters via Globe and Mail
The United States said on Friday it had agreed to co-operate to protect Saudi Arabia’s oil and will help the world’s top crude exporter to develop peaceful nuclear energy.
The White House announced the agreements as President George W. Bush flew into Saudi Arabia on Friday to renew his appeal for the kingdom to help lower record oil prices.
Saudi Arabia pumps over a tenth of global oil output and severe damage to its infrastructure would have far-reaching effects. Al Qaeda has vowed more strikes on oil facilities after a failed attack on the world’s largest oil processing plant at Abqaiq in February 2006.
(16 May 2008)
US-Saudi oil axis faces day of truth
Ambrose Evans-Pritchard, UK Telegraph
When President George Bush went to see Saudi Arabia’s King Abdullah in January to plead for higher oil output, he was politely rebuffed.
The rematch today is likely to be a great deal more strained.
If the Saudis deny help once again, they risk incalculable damage to their strategic alliance with Washington.
(16 May 2008)
Saudis Rebuff Bush As Oil Hits New High
CBS/AP
President Bush’s second stab this year at getting oil-rich Saudi Arabia to increase production and drive down the soaring gasoline prices hurting U.S. consumers appears to have again failed.
Saudi Arabian leaders made clear Friday they see no reason to increase oil production until their customers demand it, apparently rebuffing Mr. Bush, the White House said.
During Mr. Bush’s second personal appeal this year to King Abdullah, Saudi officials stuck to their position that they are already meeting demand, the president’s national security adviser told reporters.
(16 May 2008)
Saudi Arabia Says It Will Boost Oil Output in June
Janine Zacharia, Bloomberg
Saudi Arabia, the world’s largest oil exporter, will increase crude production next month in response to rising demand from its customers and a request by U.S. President George W. Bush to ease the strain of record prices.
The country will raise output by 300,000 barrels a day, or 3.3 percent, to 9.45 million barrels a day in June, Saudi Oil Minister Ali al-Naimi said in Riyadh today,
(16 May 2008)
