Legendary Texas oil billionaire Boone Pickens says President Bush was wasting his time traveling to Saudi Arabia to ask for increased oil production.
"The Saudis claim they have more oil," Pickens told CNBC. "They don't. The President wasted his time to go to Saudi Arabia, to say, 'Give us more oil.' They can't give any more oil...they're stacking up the money as fast as they can stack it up."