Bush sending energy chief to Saudi oil conference
WASHINGTON --President Bush is sending Energy Secretary Samuel Bodman to Saudi Arabia for a one-day meeting of oil producers.
Bodman is leading a U.S. delegation to the meeting on Sunday in the port city of Jiddah in Saudia Arabia, the world's largest oil producer. Saudi Arabia has called the meeting of oil producing countries and consumers to discuss ways of dealing with soaring energy prices and preventing further increases.
The director of the president's economic council, Keith Hennessey, said oil costs are soaring because demand exceeds supply. Saudi Arabia takes the position it is pumping enough oil to meet the requests of all buyers. 