WASHINGTON, (Reuters) – President George W. Bush on Wednesday said he was for a stronger dollar, and that the dollar was affecting oil prices, which have vaulted to a record high above $110 a barrel.
Asked in a PBS’ Nightly Business Report interview whether he would like a stronger dollar, Bush replied: “I would, absolutely.”
Responding to Saudi Arabia saying the high price of oil was a result of the weak dollar, Bush said: “No question that the value of the dollar has affected the price of oil, but I’m convinced that it’s supply and demand that’s really creating the major portion of the rise.”