Home pagePress CenterIn the Media Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by McClatchy Newspapers, "Bush Seeking Saudi's Help on Oil Prices."
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Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by McClatchy Newspapers, "Bush Seeking Saudi's Help on Oil Prices."
In April 1986, Vice President George H.W. Bush traveled to Saudi Arabia with a stern warning. Record low oil prices of $10 a barrel threatened the U.S. oil industry and U.S. national security. If prices don't rise, he warned, perhaps a U.S. tariff on imported oil would do the job.
More than 22 years later, his son George W. Bush is on a similar mission, but with the opposite goal in mind. President Bush meets today with Saudi King Abdullah and will lobby for help in bringing down world oil prices, which have raced past $125 a barrel. [...]
"They've not only invested tens of millions of dollars to increase production capacity. They've increased their actual production from 8.5 million barrels per day (mbpd) to 9.2 mbpd," said Frank Verrastro, director of the energy and national-security program at the Center for Strategic and International Studies, a center-right think tank. Read the article
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.
