Posted on 04/24/2006 4:59:57 AM PDT by FerdieMurphy
SAN JOSE -- As oil prices hit a record, drivers worried about $3-a-gallon gas and politicians feared the impact on elections, President Bush on Friday acknowledged the pain but seemed resigned to being able to do little about it.
"I know the folks here are suffering at the gas pump," the president said while promoting his competitiveness initiative at the Silicon Valley headquarters of Internet networking company Cisco Systems Inc. "Rising gasoline prices is like taking a _ is like a tax, particularly on the working people and the small-business people."
But to address the immediate problem, Bush offered only a pledge that "if we find any price gouging it will be dealt with firmly."
Bush said that lowering America's dependance on foreign oil imports will help reduce the country's vulnerability to global oil price fluctuations. On Saturday, the president was pushing his proposals to boost spending to develop alternative energy sources, particularly hydrogen-fueled cars.
Critics say Bush's ideas are too modest and focus on solutions that are far from being a reality in the marketplace.
Crude-oil prices broke through $75 a barrel Friday amid concerns about the standoff over Iran's nuclear ambitions, rebel disruptions of oil production in Nigeria, and tight U.S. gasoline supplies. Analysts say they are likely to climb even higher.
Prices at the gas pump also kept rising and were not considered at their peak, with the average price of a gallon of unleaded regular gasoline at $2.855. That's 3 cents higher than a day earlier and more than 60 cents higher than a year ago, according to AAA's daily fuel gauge report.
Democratic efforts to score political points by focusing on gas prices have Republicans worried that their majority in Congress could be at risk in the fall midterm elections.
High gas prices were hardly the only problem facing Bush's White House as he embarked on a four-day swing to California and Las Vegas. He was traveling with new chief of staff Joshua Bolten, charged with reinvigorating a White House rocked by public discontent with the Iraq war and a series of missteps ranging from an ill-fated Supreme Court nomination to a bungled response to Hurricane Katrina.
Bush's poll ratings are at their lowest point. Hundreds of protesters called for his resignation near the Cisco compound where he spoke.
Even his trip put the president squarely in the middle of a federal-state dustup.
Bush decided not to grant the pre-emptive federal disaster declaration sought for California's fragile levees by Gov. Arnold Schwarzenegger, a Republican who faces a tough re-election fight and has had a chilly relationship with Bush. Instead, the president is allowing the U.S. Army Corps of Engineers to help speed repairs at the state's expense.
Bush seemed aware of the precarious political landscape.
When Bush turned the microphone at Cisco over to Schwarzenegger, the governor said, "First of all, I want to say congratulations."
"For what?" asked the president, appearing genuinely surprised.
The governor, who had discussed the levee issue during a limousine ride with Bush, replied that he was glad to see the president "really paying attention" to the competitiveness issue.
Afterward, Bush talked privately with scholars from Stanford University's Hoover Institution, including former Secretary of State George P. Shultz, a Hoover fellow and early defender of the use of pre-emptive force to deal with Saddam Hussein's regime in Iraq.
Plans to hold the meeting at the Hoover Institution were scuttled when protesters blocked Bush's motorcade from going through the only entrance. Shultz, who was already hosting a private dinner for Bush later at his Palo Alto home, had the session moved to his two-story, gray-shingled house.
One reason for a weekend trip with a lot of downtime in beautiful places became clear even before Bush boarded Air Force One to leave Washington. Crew were seen loading two shiny mountain bikes _ one a red-white-and-blue Trek adorned with the presidential seal and "United States of America." With stays scheduled in picturesque Napa Valley and the Palm Springs area, the bikes weren't likely to remain clean for long.
"Tomorrow I'm going to be riding my bike in Napa Valley. I can't wait," Bush told his Cisco audience.
Before returning to Washington Monday night, Bush was making stops to raise money for the national Republican Party, visit with Marines and Navy sailors, and press Congress to break a logjam over the immigration legislation he wants.
han why have a gov't and a congress that take so much in taxes and people's fruits of their labor?
good enough. thanks.
Leni
We import OIL, not gasoline.
Yeah, you gotta love those people, to hell with pollution, run the engine as long as possible!
They all sport a bit-time oil company logo over their establishments.
The big problem is that the USA is now importing gasoline as well as crude oil these days. This is due to the fact that we don't have enough refineries and those that we have have been with us for decades.
Amazing.
The USA imports all that crude and gasoline and we even import our cement (mainly from Mexico's Cemex...they even have ready-mix batch plants set up around the country) as well as most everything else.
Save energy at night while driving with your headlights off.
No need for sarcasm, prices vary from station to station here, today I saw regular at $3.09 and premium at $3.29, went past another station less than 1/4 mile away and prices were under two dollars.
Precisely. Federal excise taxes on all fuels should be suspended immediately.
Here's a link to the IRS Statistics of Income on excise taxes: http://www.irs.gov/pub/irs-soi/histab21.xls
God has blessed you and I'm glad this doesn't affect you too much. Like you say, its pretty incredible how FReepers are starting to sound like the whine and cheese farting crowd
Speak English son, I'm to stupid to know your acronyms.
I remember Gore saying that
There is something"W"could do RIGHT NOW!He could sign an"Executive Order"rescinding the use of Ethanol(which is in short supply),and ALL the various formulations from the EPA!!!
Honda is reducing it's "Hybrid"production.Does that tell you something?
NEVER!The Government can NEVER do with LESS!!Apparently,we can????????
RIGHT ON!!We haven't built a new refinery in over 30-years!!!
Actually, we're importing more refined products than ever.
http://www.eia.doe.gov/emeu/international/oiltrade.html
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