This is just a small part of the article, but contains the pertinent info.
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No Saudi Oil 'Deal,' Woodward Says
By Dan Froomkin
Special to washingtonpost.com
Tuesday, April 20, 2004; 10:38 AM
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But on CNN's "Larry King Live" last night, Woodward explained that he never suggested that there was any covert deal.
As CNN reports: "The charge that Saudi Arabia made a secret pact with President Bush to lower gasoline prices in time to help him in the November presidential election was denied Monday by the White House, the Saudi ambassador to the United States -- and even by journalist Bob Woodward, who raised the specter of such a quid pro quo in a book released Monday.
"'I don't say there's a secret deal or any collaboration on this,' Woodward told CNN's 'Larry King Live' Monday. 'What I say in the book is that the Saudis . . . hoped to keep oil prices low during the period before the election, because of its impact on the economy. That's what I say.'
"The Saudi ambassador to the United States, Prince Bandar bin Sultan, who appeared on the program with Woodward, said his characterization of Saudi policy was 'accurate.'"
Here's the transcript of the show.
Woodward's book describes Bandar as hoping "to fine-tune oil prices over 10 months to prime the [U.S.] economy for 2004."
Verbatim
There were some fascinating three-way exchanges on that Larry King show last night. First, about Woodward's assertion that Bandar was told that Bush had decided to go to war before even Secretary of State Colin L. Powell knew.
"KING: We have made the connection. With us on the phone is Prince Bandar of Saudi Arabia. Who wants to go first? Do you hear Bob OK, Prince?
"WOODWARD: Have you read the book, ambassador?
"BANDAR BIN SULTAN, SAUDI AMBASSADOR TO U.S.: No, but I read snippets of it.
"WOODWARD: The parts pertaining to you, and there seems to be some contention about this meeting January 11 in the White House. You know, Don Rumsfeld is on record saying he looked you in the eye and said, 'you can take this to the bank, Ambassador, this is going to happen,' and the 'this' is the war plan. And. . . .
"KING: I'll let him respond to that part. Prince, is that true?
"BIN SULTAN: Larry, number one, Bob Woodward is a first class journalist and reporter. And. . . .
"KING: OK, and number two?
"BIN SULTAN: And number two, I will never contradict Bob Woodward.
"WOODWARD: OK.
"KING: So what's number three?
"BIN SULTAN: And number three is, what he said is accurate. However, there was one sentence that was left out.
"KING: And that is?
"BIN SULTAN: Both Vice President Cheney and Secretary Rumsfeld told me before the briefing that the president has not made a decision yet, but here is the plan, and then the rest is accurate."
And on the oil price issue:
"KING: Let me get in one more thing, Prince Bandar.
"BIN SULTAN: Yes, sir.
"KING: The story that Mr. Woodward has about the promise to lower the oil prices by the election. Your government has denied has.
"WOODWARD: That's not my story. What I say in the book is that the Saudis, and maybe you looked at this section of the book, Ambassador, that the Saudis hoped to keep oil prices low during the period for -- before the election, because of its impact on the economy. That's what I say.
"BIN SULTAN: I think the way that Bob said it now is accurate. We hoped that the oil prices will stay low, because that's good for America's economy, but more important, it's good for our economy and the international economy, and this is not -- nothing unusual. President Clinton asked us to keep the prices down in the year 2000. In fact, I can go back to 1979, President Carter asked us to keep the prices down to avoid the malaise. So yes, it's in our interests and in America's interests to keep the prices down.
"KING: Do you want President Bush. . . .
"BIN SULTAN: But that was not a deal.
"KING: Do you want President Bush to be reelected?
"BIN SULTAN: We always want any president who is in office to be reelected, Larry, but that is the American choice. This is not our call. This is the American people's call."
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