"So Bush REALLY do have the Saudi's in his pocket!!
Or is it the other way around??
Anyways that remark that the Saudi Oil President about the present world oil supply is helping the worldwide prices of oil to tumble by 10% in the last 2 weeks alone."
That assumption is all wrong.
The Saudis are very selfish in their desire to end $60+ / barrel oil. This high price is driving people to consider alternative fuels,
The Saudis still have 260 billion barrels of oil underground, and pumping costs are an average of $3/barrel.
Their fear is a price crash if the world decides to get off the oil habit.
Clarification: Your comment that Saudi's helped push oil lower is correct, although I think the big oil find and lack of hurricanes helped, along with end of war in Lebanon...
The implication that it was done for Bush or vice versa is wrong. The Saudis have repeatedly try to jawbone the price of oil lower since it went above $50 ... they are well aware of the history of the 1980s to oil and dont want a repeat of it. (Who knows, if the world suddenly went hybrid, it could be possible to see oil demand and oil price plummet.)