Bush 'begs' Saudis to help lower oil prices, Saudis refuse

"The Saudi government has reiterated their policy that Saudi Arabia is willing to put on the oil market whatever oil is necessary to meet the demand of Saudi Arabia's customers," Bush's National Security Advisor Steve Hadley told reporters at a briefing Friday in Al Janadriyah. "Now, it's important to understand that that policy, or even an increase in production is not going to result in some dramatic reduction in gas prices in the United States," he said.

The government of Saudi Arabia said it had already decided last week to increase oil production by a modest 300,000 barrels a day, and it balked at the new American request. "Saudi Arabia at the present time does not have customers that are making requests for oil that they are not able to satisfy," Saudi Oil Minister Naimi told Bush and Hadley.

The Associated Press noted that candidate George Bush had promised that he could get OPEC countries to lower their prices through negotiations. "On Jan. 26, 2000, during a presidential debate, Bush opposed taking oil from the Strategic Petroleum Reserve and instead said then-President Clinton should 'jawbone' oil producing nations," AP reported.

That week crude oil prices were $28 a barrel, according to the Associated Press, but on Friday oil closed at $126 a barrel.

Democratic presidential candidate Hillary Clinton accused Bush of "begging" the Saudis to do right. "I don't think it is a good energy policy to depend upon the kindness of the Saudis ... while businesses and individuals are trying to figure out how they're going to afford nearly $4 a gallon gas and nearly $5 a gallon diesel," Clinton said.

(Photo: President George W. Bush and King Abdullah bin Abdulaziz walk the red carpet after the arrival Friday, May 16, 2008, White House photo by Joyce N. Boghosian)