Skip to comments.Obama: No 'silver bullet' to bring down gas prices
Posted on 04/23/2011 3:22:20 AM PDT by Sub-Driver
Obama: No 'silver bullet' to bring down gas prices By Gautham Nagesh - 04/23/11 06:00 AM ET
President Obama said Saturday there are no easy answers for lowering gas prices, which are hovering above $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, theres no silver bullet that can bring down gas prices right away."
The president then laid out his own plan for controlling prices, focusing on ending price gauging but calling for an end to the $4 billion in federal subsidies for oil and gas firms.
He said there are some steps the U.S. can take to improve the situation such as ramping up domestic oil production and ending subsidies for oil and gas firms.
"Thats $4 billion of your money going to these companies when theyre making record profits and youre paying near record prices at the pump. It has to stop," Obama said.
"Instead of subsidizing yesterdays energy sources, we need to invest in tomorrows," 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.
"Were going to make sure that no one is taking advantage of the American people for their own short-term gain," Obama said.
The president acknowledged the added hardship of rising gas prices while the country is still recovering from a prolonged recession but said there are no quick solutions. Obama suggested Thursday that his lagging poll numbers are due to high gas prices nationwide.
"And as for today, F*&* you."
He gave all of his silver bullets to China.
Bush brought gas prices down with one speech.
And we eat the scraps thrown to us, and we like it and the only thing we say is.......... can I have some more please. Can someone please tell the House GOP and for that matter any GOP to stop screamimg about this, my ears hurt.
Umm...”drill, baby, drill” anyone? Beuller...? Beuller...?
How does ending subsidies lower gas prices?
Has ending alleged "price gauging" ever, ever resulted in lower prices for gasoline at the pump?
Repressive, destructive Democrat "green" policies such as preventing domestic production of oil, discouraging the increase of domestic refining capacities, basing decisions on fraudulent, non scientific claims of man caused global warming, shutting down off shore drilling, and lack of common sense and understanding of fundamental economics relating to supply and demand.
But we are powerless as a new third world country under Obama's failed domestic and foreign leadership. We are where Obama wants us to be, with $5/gallon cost of gasoline at the pump to be fair to the rest of the world in our new, one-world government.
“Were going to make sure that no one is taking advantage of the American people for their own short-term gain,” Obama said.
No one except him.
Great Caesar's Ghost! This guy is an idiot!
Obama has stated multiple times that the oil and gas industry is recieving subsidies. What exactly is he talking about?
I’m suspecting that he really means that the gov’t is “giving” money by not taxing them more. Does anyone here know more details?
Do it now, keep doing it for the next 10 years!
We keep what we use and sell the rest at some point.
Don't tell me it can't be done.
Let the Arabs take it in the shorts!
Oil and gas companies can depreciate expenses much faster than other industries (as they should, due to heavy up front costs). In his socialist mind that turns in to corporate welfare.
All the way down to $1.67 a gal from over $4, if I remember correctly.
Why thanks, Illegal Marxist Community Organizer POS Punk. Talk like this will drive the prices higher. Of course, that is what your anti-American butt wants...