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FLASHBACK: Obama on High Gas Prices: ‘I Would Have Preferred a Gradual Adjustment’ (Video, Transcript)

Posted by FactReal on March 4, 2011

OBAMA 2008 WANTED HIGH GAS PRICES
During the 2008 campaign, then-candidate Obama commented on the gas crisis and indicated he preferred higher gas prices. Well, I guess he is happy now.

CNBC interview with then-Presidential-Candidate Senator Barack Obama. (June 10, 2008)


Another video
TRANSCRIPT:
HARWOOD: As difficult as this is for consumers right now, is, in fact, high gas prices what we need to let the market work, a line incentive so that we do shift to alternative means of energy?

Sen. OBAMA: Well, I think that we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn’t had an energy policy. And as a consequence, we’ve been consuming energy as if it’s infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are. So…

HARWOOD: So could these high prices help us?

Sen. OBAMA: I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money into their pockets, but also by encouraging the market to adapt to these new circumstances more quickly, particularly US automakers, then I think ultimately, we can come out of this stronger and have a more efficient energy policy than we do right now.

OBAMA 2008: HIS PLAN MAKES ELECTRICITY RATES SKYROCKET
In 2008, then-candidate Obama said, “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” (Hat tip: HotAirPundit)

Video. Partial transcript.

OBAMA-QUIXOTE
Obama’s Reckless, Quixotic Fantasies are killing us:
At what point do environmentalist liberals become accountable for the results of their policies instead of their allegedly good intentions? Why isn’t President Obama held accountable for his ideologically based interference with lower oil prices? […]

Research has shown, for example, that if the United States were to adopt the Draconian cap-and-trade policies urged by the administration, it could cause a loss in gross domestic product of $9.4 trillion by 2035 and increase each family of four’s share of the national debt by $115,000. Never mind that the policies would have a trivial impact on future concentrations of greenhouse gases and have no meaningful impact on global temperatures, even by 2100. […]

The Heritage Foundation argues that Obama’s policies are indeed making gas prices higher. This week, the price of a barrel of crude oil surpassed $100 for the first time since September 2008. Heritage acknowledges that Middle East turmoil has had an impact, but long before this chaos, experts were predicting $4-a-gallon prices by the summer and $5-a-gallon gas by 2012 because of “increased oil demand worldwide.”

So what’s the obvious solution? Well, increasing domestic oil production comes to mind. But the administration has done just the opposite — to the direct detriment of the American people.

Both Chu and White House press secretary Jay Carney have insisted that the remedy is to develop alternative energy sources to decrease our dependency on foreign oil. That’s just peachy in theory and something to continue to explore for the long run. But in the short run, it is a reckless, quixotic fantasy — a tilting at windmills.

Windmills, incidentally, are not the answer. Heritage experts argue that wind and solar energy sources are miniscule and “entirely irrelevant to gasoline supply in the transportation sector.” The administration’s other alternative sources of energy, such as corn and electric cars, “won’t help a bit.” Corn-based ethanol produces less energy than gasoline, “contributes to food price increases, costs taxpayers $4 billion to produce 2 percent of the total gasoline supply, and has dubious environmental effects.” Electric cars are “prohibitively costly and environmentally suspect.”

Wake up, folks. Regardless of Obama’s intentions, his energy policies are, at best, grossly negligent and irrefutably damaging to Americans and our economy.

One Response to “FLASHBACK: Obama on High Gas Prices: ‘I Would Have Preferred a Gradual Adjustment’ (Video, Transcript)”

  1. We should shut down the EPA and drill EVERYWHERE we can find oil or natural gas , end the idiotic ethanol subsidies , and use abandoned oil platforms to produce hydrogen gas by putting solar collecting cell roofs for power . Environmental concerns to me are secondary to America becoming just another communist banana republic . I would just as soon see a moon sized meteorite slam into the planet as the fall of our founding fathers dreams for America .

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