Saturday, May 17, 2008


Saudi oil output hike would not solve US problems: Bush

The truth is that the price of oil is being driven by demand from all over the world as the new middle class buys cars for transportation. Nineteen years ago countries like Russia, China, and India were still mired in the oppressive socialist policies of their governments. The rising price of oil is a testament to the success of capitalism and its ability to raise the living standards of billions. It is something we should celebrate as well as take as a signal, which is the purpose of prices in a capitalist system, that new energy sources need to be developed. I have no doubt that this will happen as long as we can keep our own government from muddling up the process.

"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."


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