White House: Saudi oil pledge good but U.S. must conserve

06/24/2008 | Washington Post (tiered subscription model), The

White House spokeswoman Dana Perino said Saudi Arabia's pledge to increase its oil production was a good step but she wouldn't predict whether it would lower the price of gasoline. "The laws of supply and demand are the basic issue here," she said, adding that "what we really need is more conservation."

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