May 14, 2008

Then and Now: Bush on How to Handle Oil Prices

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. That week crude oil prices were $28 a barrel.

Today, prices are $127 a barrel. That's a 500% increase since Bush took office. Goldman Sachs predicts oil at $200 a barrel possibly within a year. Bush tried to "jawbone" Saudi Arabia, again, into increasing production. They effectively said, "no." [More]


Associate Press, Bush fails to win Saudi help on gas prices, TERENCE HUNT, AP White House Correspondent.


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