The Hill - President Obama said Saturday there are no easy answers for lowering gas prices, which are hovering around $4 a gallon, and criticized politicians who push plans to immediately reduce the price of gas.
"You see people trying to grab headlines or score a few points," Obama said in his weekly address. "The truth is, there’s no silver bullet that can bring down gas prices right away."
The president laid out his own plan for controlling prices, focusing on ending price gouging but calling for an end to the $4 billion in federal subsidies for oil and gas firms. "That’s $4 billion of your money going to these companies when they’re making record profits and you’re paying near record prices at the pump. It has to stop," Obama said.
"Instead of subsidizing yesterday’s energy sources, we need to invest in tomorrow’s," he added, voicing his opposition to a proposal before Congress that would cut the government's clean energy investments by 70 percent.
Obama also pointed to a Justice Department task force launched Thursday with the sole aim of discovering fraud or manipulation in the oil markets, such as illegal trading or speculators, that may impact prices. - Continue reading > >
Blog author's comments - Does Obama keep track of what he says and the actions his regime takes? The price of gas will come down if we ramp up production of our own domestic supplies.
Unfortunately he has tied up our oil fields with no drill orders. After the BP spill he placed a moratorium on drilling off the Gulf Coast which he later lifted but would not issue permits to drill.
Obama has also placed a moratorium on drilling off the East and West coasts until 2017. He refuses to give up on 'green' technology which has not yet been developed and as a result the price of gasoline will only climb higher.
The Liar-In-Chief is now placing the blame on oil companies. His only priority is to win a second term and he will say and do whatever it takes to hold on to his power.