Thursday, January 17, 2008

More on Bush recession from Saudi oil minister

The guy probably went to Harvard just like Bush:
Saudi Arabia’s oil minister, Ali al-Naimi, appeared to rebuff the president’s appeal earlier in the day.

Saudi Arabia, he said, shared the president’s concern that a downturn in the American economy could have profound effects around the world, including on the oil market. He even raised the prospect of "recession," a word Mr. Bush studiously avoided in the interview, even when pressed about "the R-word." But Mr. Naimi said Saudi Arabia would raise production only "when the market justifies it."

"Presidents and kings have every right, every privilege, to comment or ask or say whatever they want," Mr. Naimi said in a news conference after Mr. Bush’s remarks. "The concern for the U.S. economy is valid, but what affects the U.S. economy is more than the price of oil."

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