OPEC President Chakib Khelil told reporters the global market is being affected by what he called "the mismanagement of the U.S. economy," and that America's problems were a key factor in the cartel's decision to hold off on any action.
"If the prices are high, definitely they are not due to a lack of crude. They are due to what's happening in the U.S.," Khelil said. "There is sufficient supply. There's plenty of oil there."
Khelil's comments came one day after President George Bush lashed out at the organization, warning Tuesday: "I think it's a mistake to have your biggest customers' economies slowing down as a result of higher energy prices."
White House spokesman Dana Perino said Wednesday that Mr. Bush was "disappointed" OPEC didn't do more to rein in prices, which some say are pushing the U.S. economy into recession.
Nothing like a foreign Cartel criticizing Republican fiscal policy.
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The crows seemed to be calling his name, thought Caw.
- Jack Handy
Bush Blames OPEC, OPEC blames Bush.
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