Saudi oil output hike would not solve US problems: Bush
US President George W. Bush said on Saturday that a hike in oil output by Saudi Arabia would not solve American energy problems.
"It's not enough, it's something but it doesn't solve our problem," Bush told reporters in Egypt's Red Sea resort of Sharm el-Sheikh.
Bush said he was "pleased" with a Saudi decision taken on May 10 to increase its oil production by 300,000 barrels per day in response to customers, but said that he was "also realistic" about what the Americans should do.
"Our problem in America gets solved when we aggressively go for domestic exploration. Our problem in America gets solved if we expand our refining capacity, promote nuclear energy and continue our strategy for the advancing of alternative energies as well as conservation," he said. "One interesting thing about American politics these days is those who are screaming the loudest for increased production from Saudi Arabia are the very same people who are fighting the fiercest against domestic exploration, against the development of nuclear power and against expanding refining capacity."
Even if Saudi Arabia, Iraq, China and Russia starting pumping like mad our gas prices would remain high and going higher. It's called price competition worldwide. It is also called stupid liberal policies that have griped our country like a virus for over 30 years of energy legislation.
Our fuel problems are a direct result of modern American liberalism as seen through the eyes of an out-of-touch Congress, radical environmentalists squealing "wolf", the main stream media and a populous whose biggest mistake was believing all this crap. That belief was and is costing jobs, homes and money and will take 6 - 10 years to repair.
If, as it is being reported, the Democrats make major gains in the upcoming elections, the 6 - 10 year guesstimate is out the window which means America will be financially subservient to other countries for decades to come.
Be careful what you wish for.
