Posts Tagged ‘investors’

Obama Refuses to Touch Out-of-Control Gas Prices

March 8, 2012

During a speech given Wednesday in Mount Holly, North Carolina, at the Daimler Truck Manufacturing Plant, President Barack Hussein Obama remarked, as reported by The Weekly Standard:

Looks like somebody might’ve fainted up here, have we got . . . Somebody . . . EMS . . . Somebody . . Don’t worry about it: Folks do this all the time in my meetings. You always got to eat before you stand for a long time–that’s a little tip. They’ll be OK, just make sure–give them a little room.

If you haven’t heard about the whoppers he told in this speech, you had better sit down…you’re probably going to faint, too.

Here’s an excerpt from the transcript at whitehouse.gov:

Now, here’s the thing, though — this is not the first time we’ve seen gas prices spike. It’s been happening for years. Every year, about this time, gas starts spiking up, and everybody starts wondering, how high is it going to go? And every year, politicians start talking when gas prices go up. They get out on the campaign trail — and you and I both know there are no quick fixes to this problem — but listening to them, you’d think there were.

As a country that has 2 percent of the world’s oil reserves, but uses 20 percent of the world’s oil — I’m going to repeat that — we’ve got 2 percent of the world oil reserves; we use 20 percent. What that means is, as much as we’re doing to increase oil production, we’re not going to be able to just drill our way out of the problem of high gas prices. Anybody who tells you otherwise either doesn’t know what they’re talking about or they aren’t telling you the truth.

Here is the truth. If we are going to control our energy future, then we’ve got to have an all-of-the-above strategy. We’ve got to develop every source of American energy — not just oil and gas, but wind power and solar power, nuclear power, biofuels. We need to invest in the technology that will help us use less oil in our cars and our trucks, in our buildings, in our factories. That’s the only solution to the challenge. Because as we start using less, that lowers the demand, prices come down. It’s pretty straightforward. That’s the only solution to this challenge.

And that’s the strategy that we’ve now been pursuing for the last three years. And I’m proud to say we’ve made progress.

Since I took office, America’s dependence on foreign oil has gone down every single year. In fact, in 2010, it went under 50 percent for the first time in 13 years.

You wouldn’t know it from listening to some of these folks out here — (laughter) — some of these folks — (laughter) — but a key part of our energy strategy has been to increase safe, responsible oil production here at home. Under my administration, America is producing more oil today than any time in the last eight years. Under my administration, we’ve quadrupled the number of operating oilrigs to a record high. We’ve got more oilrigs operating now than we’ve ever seen. We’ve opened up millions of new acres for oil and gas exploration. We’ve approved more than 400 drilling permits that follow new safety standards after we had that mess down in the Gulf.

We’re approving dozens of new pipelines. We just announced that we’ll do whatever we can to speed up construction of a pipeline in Oklahoma that’s going to relieve a bottleneck and get more oil to the Gulf — to the refineries down there — and that’s going to help create jobs, encourage more production.

So these are the facts on oil production. If somebody tells you we’re not producing enough oil, they just don’t know the facts.

But how much oil we produce here at home, because we only have 2 percent and we use 20, that’s not going to set the price of gas worldwide, or here in the United States. Oil is bought and sold on the world market. And the biggest thing that’s causing the price of oil to rise right now is instability in the Middle East. You guys have been hearing about what’s happening with Iran; there are other oil producers that are having problems. And so people have gotten uncertain. And when uncertainty increases, then sometimes you see speculation on Wall Street that drives up gas prices even more.

But here’s the thing. Over the long term, the biggest reason oil prices will go up is there’s just growing demand in countries like China and India and Brazil. There are a lot of people there. In 2010 alone, China added nearly 10 million cars on its roads. Think about that — 2010, 10 million new cars. People in China, folks in India, folks in Brazil — they’re going to want cars, too, as their standard of living goes up, and that means more demand for oil, and that’s going to kick up the price of oil worldwide. Those numbers are only going to get bigger over time.

So what does that mean for us? It means we can’t just keep on relying on the old ways of doing business. We can’t just rely on fossil fuels from the last century. We’ve got to continually develop new sources of energy.

And that’s why we’ve made investments that have nearly doubled the use of clean, renewable energies in this country. And thousands of Americans have jobs because of it. It also means we’ve got to develop the resources that we have that are untapped, like natural gas. We’re developing a near hundred-year supply of natural gas -– and that’s something that we expect could support more than 600,000 jobs by the end of the decade.

And that’s why we’ve worked with the private sector to develop a high-tech car battery that costs half as much as other batteries and can go up to 300 miles on a single charge. Think about that. That will save you some money at the pump. And that is why we are helping companies like this one right here and plants like this one right here to make more cars and trucks that use less oil.

Still trying to line the pockets of your “investors”, huh, Mr. President?  I’m all for future progress, but what you’re proposing does nothing to deal with the reality of average American not being able to afford to fill up their gas tanks, in order to make it to their jobs.

Americans need relief at the gas pumps NOW, Mr. President.

Remember these words you repeated, a few years ago?

I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect, and defend the Constitution of the United States.

Nowhere in the Oath of Office do I see the words:

“I will line the pockets of my friends and investors, now matter how it ruins America’s economy or impacts its citizens.”

P.S.  We don’t want to “be like Europe”.  We’re America!

Heck of a job there, Barry.


Follow

Get every new post delivered to your Inbox.

Join 1,601 other followers