Jack & Jill Politics

President Obama tackled the topic of rising gas prices in his weekly address. Accusing political opponents of offering bumper stickers instead of strategy, President Obama urged an all-of-the-above approach to energy, cautioning that there is no quick fix to rising prices at the gas pump. Still, citing election-year politics, President Obama argued that his opponents are up to some of the same old tricks:

“Now, some politicians always see this as a political opportunity. And since it’s an election year, they’re already dusting off their same three-point plan for $2 gas. I’ll save you the suspense: Step one — according to them — is drill, step two is drill, and step three is to keep drilling. We hear the same thing every year. We’ve heard the same thing for 30 years.

Well, the American people aren’t stupid. You know that’s not a plan — especially since we’re already drilling. It’s a bumper sticker. It’s not a strategy to solve our energy challenge. It’s a strategy to get politicians through an election.”

Instead, President Obama promoted an all-of-the-above approach that encompasses, not just oil, but also gas, nuclear, biofuels, solar and wind energy. Additionally, the President urged continued technological development aimed at lessening the amount of oil needed for cars and buildings.

As for domestic oil drilling, the President offered the following recap of his administration’s record on the issue:

“Now we absolutely need safe, responsible oil production here in America. And that’s why under my Administration, America is producing more oil today than at any time in the last eight years. In 2010, our dependence on foreign oil was under 50% for the first time in more than a decade. And while there are no short-term silver bullets when it comes to gas prices, I’ve directed my administration to look for every single area where we can make an impact and help consumers in the months ahead, from permitting to delivery bottlenecks to what’s going on in the oil markets.

But over the long term, an all-of-the-above energy strategy means we have to do more.”

As for doing more, President Obama focused on the need to make a choice to end taxpayer oil subsidies, using the money saved to reduce the deficit and invest in clean energy:

“Right now, four billion of your tax dollars subsidize the oil industry every year. Four billion dollars.

Imagine that. Maybe some of you are listening to this in your car right now, pulling into a gas station to fill up. And as you watch those numbers rise, know that oil company profits have never been higher. Yet somehow, Congress is still giving those same companies another four billion dollars of your money. It’s outrageous. And it has to stop.

A century of subsidies to the oil companies is long enough. 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.”

The President also urged Congress to renew clean energy tax credits.

President Obama’s Weekly Address: