Politics Had No Role In Decision To Raise Oil Output: Saudi Ambassador Bandar

WASHINGTON, Aug 15 (AFP) - Saudi Arabia's ambassador to the United States, Prince Bandar bin Sultan, brushed aside suggestions that his country's decision to increase oil production was an effort bolster US President George W. Bush's reelection chances in November.
"There is no 'secret plan' to help the Bush administration," Bandar wrote in an opinion piece in the Washington Post Sunday, responding to jabs from "some politicians and media commentators."
He wrote that Saudi Arabia's stated willingness to increase oil production by extra 1.3 million barrels per day is an attempt -- driven in large part by self-interest -- to stabilize skyrocketing global oil prices.
"Saudi Arabia not only is part of the global economy, but is particularly vulnerable to economic repercussions stemming from ruinous and high oil prices," Bandar wrote.
"To put it very simply, anything that depresses the economic viability of our customers rebounds doubly on Saudi Arabia," his commentary continued.
He wrote that the kingdom found itself in a no-win situation deciding whether to intervene to slow rising oil prices.
"If Saudi Arabia stayed on the sidelines and did nothing to try to reduce oil prices, we would be criticized for hurting the US and global economies," he wrote in The Post.
"But when we take proactive steps to help customers -- as we are doing now -- we are accused in some quarters of playing politics."
Bandar added: "Saudi Arabia has, without regard to politics, consistently sought to ensure stable oil prices for the United States and the world as a simple matter of good business, abiding friendship and national self-interest."