Thursday, May 15, 2008, Jamadi-ul-Awwal 8, 1429    

US presses Saudia over oil supply
Threatens to stop arms sale

Washington—A group of Democratic Senators threatened to block a multi-million dollar US arms deal with Saudi Arabia, unless the kingdom ups oil production and helps cut soaring gasoline prices.
The senators introduced a resolution of disapproval on the arms sale, as President George W. Bush prepared to head for Saudi Arabia, partly on a mission to contain runaway oil prices.
“We are saying to the Saudis that, if you don’t help us, why should we be helping you?” said New York Democratic Senator Chuck Schumer.
“We are saying that we need real relief, and we need it quickly. You need our arms, but we need you to cooperate and not strangle American consumers.”
The resolution, expected to be fast-tracked to the senate floor, would prohibit the mammoth arms sale unless Saudi Arabia agrees to increase oil production by one million barrels per day.
Schumer, speaking as the price of a barrel of crude oil hit a record 126.98 dollars, said the extra Saudi oil could bring down the price of a gallon of gasoline at the pump by 50 to 75 cents.
Schumer said a motion of disapproval needed only 51 votes in the 100 seat Senate to pass and could not be filibustered.
Bush was heading to the Middle East on Tuesday, for a tour, which commemorates the 75th anniversary of the formal establishment of US-Saudi relations.—AP