Bush pushes for cheaper oil, tells Congress of arms sale
Photo gallery: President Bush tours the Middle East |
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RIYADH, Saudi Arabia — President Bush today gently nudged OPEC to raise production levels, saying he hopes the oil cartel will consider how high oil prices are straining the U.S. economy.
Bush said he is speaking with Saudi King Abdullah about oil prices, which recently surged past $100 a barrel.
"Oil prices are very high, which is tough on our economy," Bush said. "I would hope, as OPEC considers different production levels, that they understand that if ... one of their biggest consumers' economy suffers, it will mean less purchases, less oil and gas sold."
The issue of high oil prices also has come up in earlier stops on Bush's eight-day trip to the region, largely in the context of his push for alternate fuels and sources of energy. White House counselor Ed Gillespie said Middle East leaders have talked to Bush about "the vast demand that's on the world market today for oil." He said that was "a legitimate and accurate point."
Meanwhile, Bush's administration yesterday sent formal notice to Congress of a controversial U.S. sale of "smart bomb" technology to Saudi Arabia.
The notice came as Bush is pressing the Saudis to support peacemaking efforts between the Israelis and Palestinians and to support U.S. moves to limit Iran's influence in the region.
The weapons technology is part of a broad program announced in July that could transfer an estimated $20 billion worth of military hardware to six Persian Gulf nations. The effort, along with arms sales to Israel and Egypt, is intended in part to help U.S. allies offset Iran's military power.
The most controversial element of the sales is the offer to the Saudis of Joint Direct Attack Munitions, technology that allows standard weapons to be converted into precision-guided bombs. The deal envisions the transfer of 900 upgrade kits worth about $120 million to Saudi forces.
Under U.S. provisions governing such arms sales, Congress has 30 days in which it may disapprove the transaction.