Bush Begs Saudis, Oil Price Jumps

By: Lowell
Published On: 5/16/2008 12:29:33 PM

As usual, George W. Bush is doing a "heckuva job." This time, it's his pathetic, demeaning groveling and begging to the Saudis on oil prices.  Believe it or not, this groveling even includes an offer to "help [Saudi Arabia] in developing peaceful nuclear energy."  Wait a minute, the country that supplied 15 of 19 hijackers on 9/11 -- not to mention Osama bin Laden himself -- and which finances anti-western, anti-Christian, anti-Semitic fundamentalist "madrasas" all over the world gets nuclear assistance from the United States?  And the Saudis give us...what exactly?  Well, this morning they told Bush where to shove the oil pump, essentially.

...Saudi Arabia, the world's largest oil producer, does not see enough demand from customers to increase oil production, the White House said Friday morning. President Bush was in the oil-rich Gulf kingdom in part to lobby for an increase in crude output.

As if on cue, oil prices "surged more than $3 Friday, shattering a previous record in a spike near $128 a barrel, as prices at the pump pushed to new highs of their own."

And, as if all that wasn't enough, Goldman Sachs increased its forecast for light, sweet crude (West Texas Intermediate) during the second half of this year by $34 per barrel, to $141 per barrel.  That would add around 80 cents per gallon at the gasoline pump, so get ready for $4.50 per gallon later this year if Goldman Sachs is correct.  Oh, and enjoy the Bush-McSame economy! :)

P.S. USA Today nails it on oil prices.  In short, "As gratifying as it is to point fingers elsewhere, the mirror is the main place to look for the reasons that oil prices are hovering around $125 a barrel."


Comments



Hardly surprising.. (ericy - 5/16/2008 1:18:13 PM)

This is exactly what I would have expected that the Saudis would say.  Only for the reason that I believe that they can't increase production, but they are unwilling to admit it.


Agreed. (Lowell - 5/16/2008 1:22:12 PM)
Having studied Saudi Arabia for years, particularly their oil sector, I don't believe that they can increase production much if at all.  Remember, the Saudis for years were the "price doves," always arguing that oil prices should stay low, around $20 per barrel.  Now that prices are $100 per barrel higher than that, they're not doing anything except to say that there's plenty of oil on world markets.  My argument is that if the Saudis had the extra production capacity at $125 per barrel, they'd be using it to earn more oil export revenues if for no other reason.  They're not, so they don't.  Case closed.


What has Bush done... (relawson - 5/16/2008 2:40:48 PM)
What has he done that he can later be charged with a crime for?

I'm still holding on to hope that one day he will be charged with a crime.  Even if we must wait until he is out of office, we need a special prosecutor.  His actions aren't just poor judgement - they are criminal (imho).

Being President gets you off the hook for quite a bit, but there is no way this guy is clean.  He is either the dumbest President ever, or the dirtiest.  He can only use stupid as a defense so many times until it becomes deliberate.



Cunning is more like it (Teddy - 5/16/2008 3:00:50 PM)
Do not underestimate Bush Boy; he plays the inarticulate dumbo with cunning effect, encouraging people to underestimate him. He may not be the brightest star in the firmament, but he learned as a recalcitrant, dyslexic, sociopathic child to con people, to lull them into forgiving him (or into blaming someone else) by acting a little bit retarded or "slow," in a good ol' boy sort of way.  He is no such thing, but he has thus escaped accountability for his entire life. Too late to change him now, but we do not have to continue the pattern. You are correct, he absolutely must be brought to account... on some level he knows this, hence the disappearing e-mails, the push for telecom non-liability, the Gonzales and Yoo memos justifying torture, etc.


Don't know about Bush and Cheney, but (oldsoldier - 5/16/2008 3:35:16 PM)
I'm hoping for Webb as VP to get Obama a leg up (as someone who voted for Mondale/Ferraro, I hope you all forget about a Sibelius for VP-I don't know her and I'm at least a semi-political junkie)AND THEN

(Drum Roll and "The Death March") enter Attorney General John Edwards with Carte Blance from Obama to get on with cleaning out "The Chickenhawk Coop."

I'm so tired of republican sound bite slogan creators winning over the gullible, and while I'm not as highly qualified as all of the "so-called" democratic advisors,  I did vote for Edwards absentee in VA and would like anyone (Mudcat?  Lowell?) on the democratic side here on RK to start a slogan contest and cross-post it on democratic blogs to help the professional ad makers give us a chance for once.  

Cr*p, you don't have to mean it, you just have to say it:
"No Car Tax", "Lock Box", "Death Tax", "Contract with America", etc.etc.

I'll get us started with a couple off the top of my head.  The "political experts" can maybe polish them BUT REMEMBER:
1. Keep it short if you can,
2. Make it believable for Fox News believers,
3. Make it difficult for Limbaugh and O"Reilly to defuse or obfuscate, and  
4. Because we are democrats, be careful NOT to use Newt Gingrich's "Contract with America" because unlike Newtie's bunch, WE DO NOT want to be in Breach of Contract with the American People! (Any ideas from Item 4?)

By the way, this entry was precipitated in a cost of gas diary because I was gassing up next to a 4 door Dodge pick-up and avoided a confrontation because even though it was a pretty new truck, it had a Bush04 sticker on the back window of the pick-up part where his heirs would ride if congress would only abolish the Death Tax and make Bush's tax cuts permanent.  I do not carry, and because I wasn't sure whether one of the last guys who didn't scrape off one of the last Bush04 stickers I have seen did carry, so I decided not to ask him how Dick Cheney's SECRET energy meeting saved him lots of dollars at the pump.

Back to slogans and sound bites for democrats:

Did George W. Bush and Dick Cheney EARN their American Flag Lapel Pins, OR, did they just have the Secret Service run out and buy some for them?

Support Our Troops.  Let Attorney General John Edwards clean out the coop built by chickenhawks and return all dollars drained from the US Treasury by War Profiteers.

Now someone is going to have to crank those into republican style sound bit cookies before they'll sell.  The one I really like as maybe with some serious tweaking "ready to go" is:  

VOTE THE Republican CHICKANHAWKS OUT!  They need you to free them so they can enlist!

Hope I haven't aggoravated or otherwise disembobulated my RK correspondents.  



I see that Congress' effort (Eric - 5/16/2008 3:12:27 PM)
has fallen flat as well.  

Stopping SPR shipments for six months pulled crude futures prices back from today's all time high, but crude is still up over $2 today.

Yeah, that was a brilliant plan...