US, Saudi Arabia agree high oil prices are bad: Rice

WASHINGTON (Reuters) – The United States and Saudi Arabia
agree that high crude oil prices are bad for global economic
growth, U.S. Secretary of State Condoleezza Rice said on
Thursday.

“I think it’s a shared view that very high energy prices
are not a good thing for the international economy and for
growth,” Rice said at a news conference with Prince Saud
al-Faisal, Saudi Arabia’s foreign minister.

“We welcome the efforts that Saudi Arabia is making to
increase its production in the medium term and to invest in its
energy infrastructure,” Rice said.