Speaking about high gas prices today at the University of Miami, President Obama called for funds to develop alternative sources of energy and end oil subsides for big oil companies, reminding Americans that there was "no silver bullet," for high gas prices.
"None of these steps I’ve talked about today represent the silver bullet that will bring down gas prices tomorrow, or reduce our dependence on foreign oil overnight," he warned, "And that’s because there is no silver bullet. There never has been."
President Obama asserted that he would develop clean sources of energy and end oil subsides for big oil companies in spite of Congress.
"With or without this Congress, I’ll continue to do whatever I can to develop every source of American energy, so that our future isn’t controlled by events on the other side of the world," he stated.
Republicans, he warned would use high gas prices as an election year issue.
"Only in politics do people greet bad news so enthusiastically," Obama added, referring to a news report that Republicans were "licking their chops" over the political ramifications of the issue.
"You can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas," said Obama, "I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling."
"Anyone who tells you we can drill our way out of this problem doesn’t know what they’re talking about – or isn’t telling you the truth." he added.
