Friday, May 16, 2008

Bush sips tea with Saudis and oil goes up

Meets with Abdullah and oil surges $3

'Bush was back in Saudi Arabia today meeting with the King [Abdullah] to make a second appeal for the oil-rich nation to increase its crude output. But again, instead of jawboning, Bush took the horse farm approach and failed once again ...'
Sipping tea ... and holding hands while staring into each other's eyes is not going to increase the Saudis' output.

With the dollar falling like a rock it wouldn't matter anyway.