Friday, May 16, 2008

Broken Promise #1 (A Very Multi-Part Series)

posted by John Blanco @ 9:31 AM


How has Bush done in his 7.5 years as President? How about on oil prices?

When Bush first ran for president in 2000, he criticized the Clinton administration for high fuel prices and said the president must "jawbone" oil producing nations and persuade them to increase production. At that time, oil was nearing $28 a barrel.


Oil prices climbed to a new high Friday, above $127 a barrel. At the pump, gas prices rose to a national average of $3.78 per gallon, according to a survey of stations by AAA and the Oil Price Information Service.


When Bush met Abdullah in mid-January, the president also asked Saudi Arabia to raise production to ease high prices at the pump. But he got a chilly response to that plea. The kingdom said it would increase production only when the market justified it, and that production levels appeared normal.


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