President Bush said Monday that when he meets Saudi Arabia's King Abdullah later this week, he'll bring up the effect that high oil prices are having on the U.S. and global economies.

"Of course I'll bring it up to him," Bush said in a CBS News radio interview. However, he added that the capacity of the Saudis to raise production — and thus help lower prices — is limited.

"When you analyze the capacity for countries to put oil on the market it's just not like it used to be," Bush said. "The demand for oil is so high relative to supply these days that there's just not a lot of excess capacity."

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Filed under: * Economics, Politics • Energy, Natural Resources

1. Dee in Iowa wrote: I sure hope he “shakes hands” with him, and not “hold hands” with him. May 13, 8:28 am | [comment link]

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