Post date: Feb 26, 2012 1:2:22 AM
WASHINGTON, D.C., UNITED STATES (FEBRUARY 25, 2012) (WHITE HOUSE HAND-OUT) - As U.S. gas prices continue to rise, President Barack Obama tells Americans that there are no "silver bullets" to fix the problem, and that the U.S. needs a comprehensive energy plan that includes clean energy alternatives to oil and gas.
U.S. President Barack Obama tells Americans there are no "quick fixes" to lower gas prices, and that drilling is not the solution.
Republicans blame the Obama administration's energy policies for driving up gas prices, and call for more development of oil and natural gas resources in the United States.
But Obama said that Republican presidential contenders who claim they have a plan to lower gas prices are just using the issue as a "political opportunity" during an election year.
"You know there are no quick fixes to this problem, and you know we can't just drill our way to lower gas prices," said Obama. "If we're going to take control of our energy future and avoid these gas price spikes down the line, then we need a sustained, all-of-the-above strategy that develops every available source of American energy - oil, gas, wind, solar, nuclear, biofuels, and more."
Obama also called for the repeal of some $4 billion a year in tax breaks for oil and gas companies. This has long been a goal of Obama's but it has been staunchly opposed by Republicans.
"A century of subsidies to the oil companies is long enough," said Obama. "It's time to end taxpayer giveaways to an industry that's never been more profitable, and use that money to reduce our deficit and double-down on a clean energy industry that's never been more promising."
U.S. consumers have seen the price of fuel jump nearly 9 cents in the past week to an average of $3.61 a gallon. The cost is expected to rise further toward $4 through the summer driving season.