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.
Yeah, raise taxes on the oil companies, zerO
That’ll fix the problem
We ALL know the problem
He lives at 1600 Pennsylania Avenue
Get Out of my White House you big dope!
“Were going to make sure that no one is taking advantage of the American people for their own short-term gain,” Obama said.
The hilarity of that statement would be tremendous if it
weren’t so tragic.
Yes, that’s what I figured.
In this case Zero is playing word games to demonize the oil industry. Alinsky tactics to divide the nation.
Obama isn’t Bush...not even close.
Quite an ironic statement coming from this President. I guess we all forgot his recent speech on the budget.
He said he could just listen: http://www.youtube.com/watch?v=dnLP12X3EgM
The wealth of America is being forcibly sent to the rest of the world by redistributing our money at the gas pump one gallon at a time. This is a plan.
They simply said:
Why limit the stickers to gasoline pumps when the price of almost everything else is going up.
Stickers for grocery store shelves, building supplies, even most of the items Walmart sells need one of those stickers.
Baloney....Take the fed tax off for the summer!! And if I remember correctly, the last raise was via Clinton. This tax effects both rich and poor alike and but the worse effect is on the workers...who are the most prolific buyers of goods.
I think he wants gas prices up so you’ll sell your gas guzzler and buy a Gov. Motor Electric.
That is because you stole all of the silver bullets from Industry and have them locked up at Fort Knox. FU obama... we will be ****ing you over in the November to Remember (2012) kenyan!
"Were going to make sure that no one is taking advantage of the American people for their own short-term gain," Obama said.YIPPEE!
And who said he wasn't a swell guy.
Since 1977 the OIL INDIUSTRY has paid 584 BILLION DOLLARS IN US TAXES ON PROFITS. THE OIL INDUSTRY HAS COLLECTED FROM US AND DELIVERED TO THE US GOVERNMENT 1.92 TRILLION DOLLARS IN ADDITIONAL USER FEES AND TAXES LEVIED ON OIL CONSUMPTION AND EXTRACTION... THE PROFITS OF THE OIL INDUSTRY DURING THAT ENTIRE TIME HAS BEEN JUST UNDER 600 BILLION DOLLARS. WHO IS MAKING THE OBSCENE PROFIT OFF OF OIL? WHY AREN'T ANY ELECTED REPUBLICANS BASHING OBAMA OVER THE HEAD WITH THESE FACTS? BECAUSE THEY ARE LAZY, STUPID OR CORRUPT... OR ALL THREE!
The guy’s an anti christ.