Schumer Says Cure To High Gas Prices Lies In Saudi Arabia

02.26.12 | Bob Price

Senator Chuck Schumer said Sunday the price at the pump has gone up 18 cents a gallon in just two weeks, and the Saudi's can do something about it.  He wants our Arab ally to release more oil onto the world markets to compensate for Iran's threat to cut off production.  Schumer says the Saudi government has excess reserves and they need to match the Iranians' threat ...barrel for barrel.  He says the price of crude would drop immediately if that happened.  Iran, the world's third largest exporter of oil has threated to cut production as a result of the standoff over it's nuclear program