"There is more than enough oil in the market to meet the international demand,'' added the OPEC president, who will take part June 30 in an international energy forum in Madrid."

"Political pressure on Iran and the depreciation of the U.S. currency have caused a surge in oil prices, Khelil said. New York- traded crude has more than doubled in a year and touched a record $142.99 a barrel yesterday on the New York Mercantile Exchange."

Now lessee. Who is responsible for the above. Bush's legacy, I'm afraid, and the successor POTUS and American public is left to pay the price.

"OPEC ministers generally say that oil output is sufficient, even as Saudi Arabia, the biggest producer, pledged to pump an extra 200,000 barrels a day next month to calm the market. ``The market is completely supplied,'' Venezuelan Oil Minister Rafael Ramirez said yesterday. Libya announced possible production cuts, calling the market oversupplied."

Arf