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Red Cross in the Red; Jane Fonda's Speaks Out on Teen Pregnancy; Shark Hunting: Sport or Animal Abuse?; Olympian Strives for.(Broadcast transcript)

Finance Wire

| June 22, 2008 | COPYRIGHT 2008 CQ Transcriptions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Original Source: CNN NEWSROOM

DON LEMON, CNN CORRESPONDENT: All right. How about this? A green light to produce more oil? What will today's promise from the Saudis mean for America's crunch right now.

A hung to the death. The search for sharks in a heart-pounding, chest beating contest. Is this competition in dangerous waters and her dad says this Grammy award-winning pipes are diminished by emphysema. What's up with Amy Winehouse?

Well, Saudi Arabia makes a move that could possibly keep money in your pocket. Hello, everyone, I'm Don Leon, in tonight for Rick Sanchez. And right now, on the average, we're paying around $4.07 a gallon for gas. Help, though, may be on the way. Starting next month, the world's largest oil exporter, Saudi Arabia, will increase production by about 2 percent boosting output to 9.7 million barrels of oil a day. The kingdom hasn't been at that production rate since 1981. And that's not all. Something else decided at today's energy summit in Jeddah. The kingdom said it has plans to bump production capacity an extra 25 percent by the end of the year. It's way too early to tell if Saudi Arabia's move will actually help bring down gas prices here in the U.S., still, today's news is promising and we want to sort it out for you. We've got CNN's Wilf Dinnick in Jeddah, Saudi Arabia and Kathleen Koch monitoring reaction in D.C. but first we want to get to international correspondent Wilf Dinnick, and he spoke with a short time ago from Jeddah.

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