Bush says Saudi oil boost doesn't solve US problem [View All]

Source: The Houston Chronicle

SHARM EL-SHEIK, Egypt — President Bush said Saturday that the Saudis' modest increase in oil production is "something but it doesn't solve our problem" of soaring gas prices.

Taking note of the kingdom's recent decision to raise production by 300,000 barrels a day, the president said the United States must act, too, to ease the gasoline crisis. He mentioned steps such as developing alternate fuels, improving conservation and expanding domestic exploration.

Bush said he told Saudi King Abdullah during their talks this week that the king should be concerned that high energy prices are hurting some of Saudi Arabia's biggest oil customers, including the United States.

"One of the interesting things about American politics is, those who are screaming the loudest for increased production from Saudi Arabia are the very same people who are the fighting the fiercest against domestic exploration, against the development of nuclear power and against expanding refining capacity," Bush told reporters.

Read more: http://www.chron.com/disp/story.mpl/ap/world/5787315.html