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Oil Hits $105 a Barrel

Posted by Mike Gehrke on March 6, 2008 at 11:59 AM

Oil hits $105 a barrel.

Mr. Bush’s earlier comments echo remarks he made more than eight years ago, while running for president. Then, the onetime Texas oilman said that if prices rose, he would not hesitate to call OPEC producers and persuade them to increase supplies.

“I would work with our friends in OPEC to convince them to open up the spigot, to increase the supply,” Mr. Bush said at the time. “Use the capital that my administration will earn, with the Kuwaitis or the Saudis, and convince them to open up the spigot.”

Let's hope there's a Plan B.

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