Here is a text of President Bush's news conference Thursday: President Bush: Well I have a brief statement and then I'll be glad to take some questions. The United States is engaged in a collective effort involving the overwhelming majority of the member states of the United Nations to reverse the consequences of Iraqi aggression. And our goals, enshrined in five Security Council resolutions, are clear: the immediate and unconditional withdrawal of Iraqi forces from Kuwait, the restoration of Kuwait's legitimate government, the stability of Saudi Arabia and the Persian Gulf, and the protection of American citizens. What is at stake here is truly significant _ the dependability of America's commitments to its friends and allies, the shape of the post-postwar world, opposition to aggression, the potential domination of the energy resources that are crucial to the entire world. This effort has been truly international from the very outset. Many other countries are contributing. At last count, 22 countries have either responded to a request from Saudi Arabia to help deter further aggression, or are contributing maritime forces pursuant to United Nations Security Council Resolution 665. And still others are providing other forms of financial and material support to these defense efforts or to countries whose economies are affected adversely by sanctions or by higher oil prices. And still others are paying a heavy economic price at home for complying with the United Nations sanctions. It is important that the considerable burden of the effort be shared by those being defended and those who benefit from the free flow of oil. Indeed, anyone with a stake in international order has an interest in ensuring that all of us succeed. The United States has large interests in the balance and has undertaken commitments commensurate with them, and we're more than willing to bear our fair share of the burden. This includes above all the thousands of men and women in our armed forces who are now in the Gulf, but we also expect others to bear their fair share. A number of countries already have announced their willingness to help those adversely affected economically by this endeavor. And it's essential, though, that this be a concerted and coordinated one and that all affected countries participate. It is important to get the priorities right and make sure that those most deserving of assistance receive it and that those most able to contribute do so. And for that reason, I directed an interagency effort to develop a strategy to accomplish this objective. The group's report was presented at yesterday's National Security Council meeting here, and this morning I approved an action plan. And our approach calls for substantial economic assistance to those states _ in particular, I'd single out Turkey and Egypt, who are bearing a great part of the burden of sanctions and higher oil prices. The plan also targets additional countries, including Jordan, the countries of Eastern Europe and others for special assistance. The United States will also seek burdensharing for part of our own effort. At the same time, we will be asking other governments, including Japan, the Republic of Korea, Federal Republic of Germany, Saudi Arabia, the Emirates, free Kuwait, and others to join us in making available financial and, where appropriate, energy resources to countries that have been most affected by the current situation. To facilitate this undertaking, I've asked Secretary of State Jim Baker and the Secretary of the Treasury Nick Brady to lead high-level delegations to the Persian Gulf, Europe and Asia. And I'll be getting directly in touch with the leaders of these countries before Secretaries Baker and Brady arrive to set forth, spell out our general objectives. Let me close by repeating what I said the other day in meeting with the congressional leaders. The basic pieces of our policy are in place. The Iraqi regime stands in opposition to the entire world and to the interests of the Iraqi people. It is truly Iraq against the world. But I want to make this point clear, we have no argument with the people of Iraq. The sanctions are beginning to take hold. And in the meantime, we want to ensure that countries contributing to this unprecedented collective response do not suffer for doing so. And what I've announced today and what I expect will be implemented in the coming days should help create a context in which sanctions against Iraq can be sustained with the intended effect. Another area where there has been unprecedented international solidarity is OPEC's willingness to take up the slack in oil production created by the embargo on Iraqi and Kuwait's oil. In this connection, I met this morning with our energy advisers who are watching the oil production situation very, very closely. And we are pleased with OPEC's decision to help take up the slack in crude oil production. And although we are in what I would see as a transition period, the situation appears manageable. At the present time, we don't anticipate major imbalances in the oil market. But we do have the Strategic Petroleum Reserve tested and available if it is truly needed. And our energy policy is resulting in increased oil production and fuel switching to natural gas and to other fuels. I also repeat my previous request for Americans to conserve and for all parties to act responsibly. Right now, the situation, I would say, is relative stable, and I am very pleased by the coordination that has taken place with so many countries in maintaining adequate fuel levels. MORE