Instead of subsidizing yesterday’s energy sources, we need to invest in tomorrow’s. We need to invest in clean, renewable energy. In the long-term, that’s the answer. That’s the key to helping families at the pump and reducing our dependence on foreign oil.
That was the message from President Obama, as he delivered his weekly message. The President acknowledged the politics that’s involved in higher energy costs, saying;
Whenever gas prices shoot up, like clock work we see politicians racing to the camera waving three-point plans for $2.00 gas. You see people trying to grab headlines to score a few points. The truth is, there are no silver bullets that can bring down gas prices right away, but there are a few things we could do. This includes safe and responsible production of oil at home, which we are pursuing.
And the President mentioned his request to the Attorney General to launch a task force whose job will be “rooting out cases of fraud or manipulation in the oil markets that might affect gas prices, including any illegal activities by traders or speculators.” The President called again for an end the $4 billion dollars in subsidies the oil companies presently get.
He then continued his call for a sensible approach to reducing the deficit.
Both Democrats and Republicans believe we need to reduce the deficit. That’s where we agree. The question we’re debating is how we do it. I’ve proposed a balanced approach that cuts spending while still investing in things like education and clean energy that are so critical to creating jobs and opportunities for the middle class. It’s a simple idea: we need to live within our means while at the same time investing in our future.
That’s why I disagree so strongly with a proposal in Congress that cuts our investments in clean energy by 70 percent. Yes, we have to get rid of wasteful spending—and make no mistake, we’re going through every line of the budget scouring for savings. But we can do that without sacrificing our future. We can do that while still investing in the technologies that will create jobs and allow the United States to lead the world in new industries. That’s how we’ll not only reduce the deficit, but also lower our dependence on foreign oil, grow the economy, and leave for our children a safer planet. And that’s what our mission has to be.
A sensible approach to a very complicated problem.