Obama claims 'no silver bullet' for bringing down gas prices

Rick Moran
He's got that right, anyway. It's just that with dozens of wells shut down in the Gulf, and little in the way of domestic licenses being granted for drilling at all, the wonder might be that gas isn't $7 a gallon.

Some analysts say gas will be $5 a gallon by Memorial Day and may top $7 a gallon by the end of the summer.

The Hill:


President Obama said Saturday there are no easy answers for lowering gas prices, which are hovering around $4 a gallon, and criticized politicians who push plans to immediately reduce the price of gas."You see people trying to grab headlines or score a few points," Obama said in his weekly address. "The truth is, there's no silver bullet that can bring down gas prices right away."

According to AAA's tracking, the national average price for a gallon of regular gas is $3.86, which is 4 cents per gallon more than a week ago and nearly $1 more than a year ago.

Demonizing oil companies won't help, but it will deflect attention for his own lousy policies:

He said there are some steps the U.S. can take to improve the situation such as ramping up domestic oil production and ending subsidies for oil and gas firms.

"That's $4 billion of your money going to these companies when they're making record profits and you're paying near record prices at the pump. It has to stop," Obama said.

Eventually, he is going to run out of people to blame.



He's got that right, anyway. It's just that with dozens of wells shut down in the Gulf, and little in the way of domestic licenses being granted for drilling at all, the wonder might be that gas isn't $7 a gallon.

Some analysts say gas will be $5 a gallon by Memorial Day and may top $7 a gallon by the end of the summer.

The Hill:


President Obama said Saturday there are no easy answers for lowering gas prices, which are hovering around $4 a gallon, and criticized politicians who push plans to immediately reduce the price of gas.

"You see people trying to grab headlines or score a few points," Obama said in his weekly address. "The truth is, there's no silver bullet that can bring down gas prices right away."

According to AAA's tracking, the national average price for a gallon of regular gas is $3.86, which is 4 cents per gallon more than a week ago and nearly $1 more than a year ago.

Demonizing oil companies won't help, but it will deflect attention for his own lousy policies:

He said there are some steps the U.S. can take to improve the situation such as ramping up domestic oil production and ending subsidies for oil and gas firms.

"That's $4 billion of your money going to these companies when they're making record profits and you're paying near record prices at the pump. It has to stop," Obama said.

Eventually, he is going to run out of people to blame.