Bush: No quick fix for rising gas prices
May 5th, 2008 . by TexasFredWASHINGTON (AP) — President Bush said Monday that he’s troubled by rising gas prices and will take a look at proposals to relieve the crisis but warned that there is no quick fix.
“It’s been a while in the making and it’s going to be a while that we solve the problem,” Bush said in an interview on ABC’s “Good Morning America.” “We’re too dependent on foreign oil and we need to be exploring more at home.”
Bush said the rising cost of gas “troubles me a lot” because it is “like a tax on the working people.”
Democratic presidential candidate Hillary Rodham Clinton and Republican presumptive nominee John McCain have proposed, with variations, a summertime suspension of federal gas taxes. Other proposals include a windfall-profits tax on oil companies, supported by Clinton, Democratic rival Barack Obama and many other Democrats; and new refineries, nuclear power plants and drilling in the Alaska wilderness, supported by Bush.
“We’ll analyze some of these suggestions, but the key is that we think long-term for America, that we diversify away from oil and we’re wise and build new refineries and increase supply for the American consumers,” Bush said in the interview on the White House grounds with his wife, Laura.Full Story Here:
Bush: No quick fix for rising gas prices
I am notorious for blasting Bush if I think he’s wrong, and lately I have done more than my fair share of blasting, but if the man is right, by God, he’s right, and when he said that the USA needs to do more exploration at home, he is 100% correct…
Our reliance on foreign oil is killing us, and the ‘tree huggers’ of America aren’t helping any either, we have more than enough oil, in U.S. possession, and accessible to us, to last this country for at least the next 100 or so years, all we have to do is allow the oil companies to drill for it and then allow them to build the necessary refining facilities, clean facilities, to turn the crude into usable oil products…
http://texasfred.net/archives/1137/trackback/
If you enjoyed this post, make sure you subscribe to my RSS feed! If the brain trust of science can’t come up with some viable energy sources by then, well, I guess we’re screwed and the scientists aren’t as smart as we think they are…
America is in a real predicament right now, and a lot of it can be blamed on some short-sighted governing bodies, all branches, for at least a couple of dismal administrations back, no 1 administration takes all the blame, the environmentalists have a solid choke hold on this nation and our oil problems are much their fault as the governments, as well as the fact that some administrations don’t have the guts to tell the environuts to get lost… And you don’t even want to hear what I think of Algore and his ‘global warming’ cabal… Trackback URL:http://texasfred.net/archives/1137/trackback/
You Are Correct About This. I Think The Global Warning Stuff Is CooLing Off.
I was watching Fox News the other week and someone was saying what’s driving up the price of oil is speculators on Wall Street. He compared them to gamblers in casinos. What they’re doing is buying and selling oil without ever putting a penny of their money on the table. Say you buy a million barrels of oil today for $115 per barrel on credit. You hold it until it goes up to $116 and sell. You’ve made a million dollars without ever having to put money on the table. If the oil drops, you just hold on to it until it comes up. This commentator said that if they were required to front the money when they bid, you wouldn’t see them speculating like they are and prices would stay stable.
When I invest in my IRA and 401k, I have to put money up before the fund managers purchase my shares. It would be great if I could do it on “credit” so I wouldn’t have to tie up my own personal money. These Wall Street speculators are allowed to do what we can’t. Until the government steps in and puts a stop to it, prices of oil are going to keep getting higher and higher. The best thing is to become self-sufficient in oil where it can be controlled in-country.
Remember when OPEC controlled the price of oil? The OPEC ministers would meet and set the price for a barrel of oil. That price would stay set until the ministers met again and set a new price. Their never was the daily fluctuation like we see now. Prices at the pumps were usually stable and if they changed, it was only a penny or two.
If I remember correctly we have upwards of 20B barrels in Anwar and 30B offshore…
think that might put a chink in the price of oil/gas
*note: we still need refineries, the US is IMPORTING refined gasoline because of this lack (another reason gas prices are as high as they are, though less touted by MSM because refinery is still EVIL!!@)
Ok, here goes… Whats the problem with ALL the candidates on energy ? Not one of them has said this is what we need and will have to do, drill and refine rite here in the USA. Polute the world, get real. If any country on this green earth could do it rite it is the USA.
Im just a truck driver not a politician. Some say it would take 10 years to get refineries on line, so whats the hold up ? Some one needs to step up and get it done. No guts , No Vote.