"Over the long term, the only way we can avoid being held hostage to the ups and downs of oil prices is if we reduce our dependence on oil, he said at the Allison Transmissions plant in Indianapolis. "That means investing in clean, alternative sources of energy, like advanced biofuels and natural [image-nocss] gas. And that means making cars and trucks and buses that use less oil."
Watch below orclick here to view the video and to read the full transcript of his remarks.Click hereto download the full-sized infographic "The Obama Energy Agenda & Gas Prices."
Before the speech, during the daily White House press briefing on Friday, a reporter asked press secretary Jay Carney: "In April of 2008, President Obama--or then candidate Obama appeared at a gas station in Indiana; gas was at $3.60 a gallon--said we need to vote for change, a new set of policies. He's returning to Indiana now with gas well over $4 a gallon. What does it say about the success he has had over the last three years in dealing with the fuel issue, the gas issue?"
Carney said, "I think you've heard the President speak quite a lot lately about the impact of high gas prices on Americans' pocketbooks and wallets. We're very concerned about it. We do note the steep drop in oil prices in the last couple of days. And I would also note that one of the things the Attorney General task force will be looking at is coordinating with state attorneys general to make sure that we don't have a what I've heard described as a 'rockets-and-parachutes phenomenon,' where prices at the pump rocket up when oil prices rocket up, and yet they come down in a parachute fashion when oil prices go down. So we want to make sure that a drop in oil prices is appropriately reflected in a drop in gas prices at the pump."
(Click here for previous CSP Daily News coverage of the task force.) He added, "So that's been his commitment; you've heard him speak about that many times. You'll hear him speak about it again...in Indiana."
The reported followed up: "Does the President believe gas prices will drop in the coming months? The futures market seem to be indicating they will."
Carney said, "We don't predict markets here, obviously. And we have seen a drop. We have -- but they go up and down. The President, as you know, has said many times that there are no silver bullet solutions here, no short-term solutions, and that's why he is committed to--while we are doing the things in the short term that we hope can provide some relief, the big challenge is the long-term solution that weans us off our dependence on foreign oil, that diversifies our energy supply, that allows us to build clean energy industries in the United States that both enhance our national security and provide quality jobs in this country."
Meanwhile, on a vote of 266 to 149, the U.S. House of Representatives last week passed H.R. 1230, the Restarting America Offshore Leasing Now Act, reported the Petroleum Marketers Association of America (PMAA). It directs the U.S. Department of the Interior to restart offshore lease sales in the Gulf of Mexico and off the coast of Virginia. The legislation would increase domestic crude oil production and stimulate job creation, as well as help cut gasoline prices, PMAA said.
The Southeast Energy Alliance estimates that that offshore energy development in Virginia could create nearly 2,000 jobs and produce 750 million barrels oil. PMAA was one of over 40 groups supporting passage of H.R. 1230.
H.R. 1230 is one bill in the House Republicans American Energy Initiative; an effort to reduce gasoline prices, increase energy production and create jobs. This week, the House will vote on H.R. 1229, the Putting the Gulf Back to Work Act, and H.R. 1231 the Reversing President Obama's Offshore Moratorium Act.
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