George Bush actually said...

These actions are necessary, and they're important, and the markets are adjusting to them.

I am continuing for 1 year the national emergency with respect to persons who commit, threaten to commit, or support terrorism.

The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence.

There is no verifiable evidence to conclude that oil speculators were behind the rise in oil prices in the first half of the year.