President says Gustav proof more oil drilling needed

President Bush is getting in a plug for increasing oil production at home in the wake of Hurricane Gustav.
   
The president says while it’s too early to assess damage to oil facilities off the Gulf Coast, the storm should prompt Congress to OK more domestic oil development.
   
Bush said at the White House that lawmakers must understand that—in his words—“we need more domestic energy, not less.“
   
The president is keeping a hands-on profile in the aftermath of the hurricane, in contrast to the government’s poor response to Katrina. He met in the Roosevelt Room with Vice President Cheney and about 20 advisers, including the secretaries of Interior, Transportation and Energy.
   
Preliminary indications are that Gustav caused little damage to onshore and offshore facilities, though the full impact likely won’t be known for a couple of days.
   
The price of oil, meanwhile, tumbled more than $8 a barrel in electronic trading on the New York Mercantile Exchange.