April 27, 2011

OBAMA SAYS HE WANTS OIL PRODUCERS TO BOOST OUTPUT


As the high cost of gasoline takes a toll on politics and pocket books, President Barack Obama said Tuesday he be calling on major oil producers such as Saudi Arabia to increase their oil supplies to help stabilize prices, warning starkly that lack of relief would harm the global economy.


"We are in a lot of conversations with the major oil producers like Saudi Arabia to let them know that it's not going to be good for them if our economy is hobbled because of high oil prices," Obama told a Detroit TV station. His annotations signaled a broad new appeal in the face of skyrocket gasoline prices in the United States and they came as he reiterated a call for Congress to repeal oil industry tax breaks.

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