President Bush On Oil Prices (No Mention Of OPEC Cartel)

2005-04-25

Office of the Press Secretary

President Speaks to Press Pool at Prairie Chapel Ranch, Crawford, Texas

www.whitehouse.gov/news/ releases/2005/04/ 20050425-2.html

11:05 A.M. CDT

Q What do you expect to get out of this meeting, sir?

THE PRESIDENT: Do you like the footpath?

Q Let's talk about the meeting.

THE PRESIDENT: This is an important relationship -- personal relationship with the Crown Prince is important. I look forward to talking with him about a variety of subjects. I'm glad you're here. Thank you for coming. I hope you're enjoying this day.

Q How much progress can you make on oil prices?

THE PRESIDENT: I'll be glad to answer those questions at a later time.

Q Later today?

THE PRESIDENT: No. No, of course I'll talk about energy. And the Crown Prince understands that it's very important for there to be a -- make sure that the price is reasonable. A high oil price will damage markets, and he knows that. I look forward to talking to him about that. But as well as -- you know, we'll talk about his country's capacity. It's an important subject.

One thing is for certain: I need to sign an energy bill. I appreciate the House passing the energy bill. And now it's time for the Senate to pass the energy bill. The bill is a long time in coming. The Vice President and I suggested they pass a bill in 2001, and nothing happened. Now is the time for something to happen. I'm looking forward to getting back to Washington and continuing to talk about energy.

Q Sir, do you think gas prices can be any lower than it is today?

THE PRESIDENT: That depends on the supply and demand. One thing is for certain: The price of crude is driving the price of gasoline. The price of crude is up because not only is our economy growing, but economies such as India and China's economies are growing.

Here comes my guest. Anyway, nice going -- you got me to answer some questions.

END 11:07 A.M. CDT

Source: IMRA – Independent Media Review and Analysis