Bush talking about his upcoming meeting w/ the Prince of Saudi Arabi:
"I think they're near capacity, and so we've just got to get a straight answer from the government as to what they think their excess capacity is."
Bush's further insight: "I'm going to explain to him [the prince] that, you know ... high-price crude oil will hurt the international economy."
And about the SPR, well, unfortunately Bush still likes buying expensive Saudi oil and pumping it back into the ground. Bush says the SPR is intended for emergencies "and that's what it's going to be used for."
So, Bush is pushing the Prince to pump more oil, so the U.S. can keep burying more oil.
http://money.cnn.com/2005/04/19/news/economy/bush_energy.reut/