Unfortunately, Saudi Arabia’s action has been interpreted by politicians and commentators as constituting a "secret deal" between the Arab country and the Bush administration that would boost President Bush’s reelection prospects.
"Believe me, nothing could be further from the truth, as even a casual study of Saudi Arabia’s historical role in stabilizing prices would confirm," the prince said. "No country understands the negative effects of high oil prices better than Saudi Arabia. That is because Saudi Arabia not only is part of the global economy but is particularly vulnerable to economic repercussions stemming from ruinous and high oil prices."
In fact, meeting world oil demand "is precisely what is behind Saudi Arabia’s proposal to increase current production. There is no ‘secret plan’ to help the Bush administration, any more than there were ‘secret plans’ to boost the political prospects of previous US presidential administrations – including those of Presidents Jimmy Carter, Bill Clinton and George H. W. Bush."
I asked a Filipino Muslim, Saeed A. Daof, who had met the prince on several occasions in the US, for comments on the prince’s statement. He said, "I still feel ten feet tall whenever I recall that day Prince Bandar bin Sultan invited me to his home in Bel Air, California after the closing rites of the summer Olympics in 1984 to personally thank me for Œa job well done,’ that is, for helping the Saudi Embassy and its consulate general in Los Angeles in the successful execution of its projects and activities at the Olympics." Daof served as executive director of the Center for Saudi-American Cooperation. He is now director general of the Center for the Promotion of Peace and Development in Mindanao (CPPDM).
Daof said that the prince’s statement was "vintage Prince Bandar bin Sultan at his best, as he talks from his heart in manifesting Saudi Arabia’s concern for the oil importing- consuming nations. I hope that the beneficial windfall of the Royal Kingdom’s oil policy would redound to the benefit of the Philippines at this crucial time when our country is groping to get out of a quagmire of galloping increases in oil prices."
Expounding further, Daof said that "As a perennial oil importer that consumes almost a million of crude oil a day or maybe more, and a country that is frantic in sourcing and developing resources to lessen its dependency on the import of this commodity, the Philippines should try every effort to find ways and means of obtaining Œprice concessions’ and other mutually beneficial arrangements from Saudi Arabia, while at the same time researching and developing other sources of energy."
Daof went on to say that doing so "does not mean that the Philippines has to beg with a hat on its hands, but rather, articulate on the wisdom of providing a friend, and oil consumer, a Œbreather’ in light of the situation. It would help the Philippines to politely remind Saudi Arabia that ARAMCO was given a ground-floor opportunity in doing a highly lucrative business, and built-in market in the Philippines. The Philippines is also the only Christian-dominated country in Asia whose Muslim minority population trace their roots to Saudi Arabians. As a matter of fact, it was a Saudi Arabian who started the formal Islamization of Mindanao, and became a sultan of the Royal Sultanate of Sulu."
After a lunch of Japanese food, the President left for Malacanang where she would administer the oath to newly-appointed executives, including Assistant Secretary of the Department of Trade Carissa Cruz, daughter of Speaker Joe and Gina de Venecia.
Tarlac Gov. and Peace Panel Adviser Aping Yap was there. So were newly-elected Senators Pia Cayetano and Jinggoy Estrada. Representative Imee Marcos also came, and so did Supreme Court Justice Minita Nazario and former former Representative and Guimaras Gov. Emily Lopez. Party-list sectoral representative around was Rene Velarde, son of Mike, sat at the head of one table.
I sat beside former Cavite Gov. Johnny Remulla who pleasantly talked about his sons’ having won in the last elections. Now serving in Congress are Crispin (3rd. district) and Gilbert (2nd district). Jonvic is the provincial vice-governor. Accompanying his father to the lunch was Emerito, who is in real estate development – not in politics yet.