Home pagePress CenterIn the Media Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "Bush Gets Oil but No Credit for Jawboning Saudis."
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Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by Reuters, "Bush Gets Oil but No Credit for Jawboning Saudis."
WASHINGTON (Reuters) - President George W. Bush walked away from a meeting with Saudi King Abdullah on Friday with a prize he has been seeking for months: a commitment from the world's big oil exporter to boost output.
The move, announced by Saudi Oil Minister Ali al-Naimi after Bush met with Abdullah in Riyadh, was "a bit of capitulation for the Saudis," said Frank Verrastro, an energy expert at the Center for Strategic and International Studies.
However, Verrastro agreed that the move was meant to safeguard global economies and prevent a downturn in petroleum demand, not to placate the world's largest energy user.
The Center for Strategic and International Studies (CSIS) is a private, tax-exempt institution focusing on international public policy issues. Its research is nonpartisan and nonproprietary. CSIS does not take specific policy positions; accordingly, all views, positions, and conclusions expressed in these publications should be understood to be solely those of the authors.
