Pain at the pump
“An energy policy that prohibits America from finding oil in our own land, is an energy policy that has led to high gas prices.”
He says gas prices pretty much a tax that Congress can be blamed for.
He made a passing reference to alternative fuels raising the price of food. “As you know ethanol is beginning to take off. I’m convinced that we’re going to be able to make ethanol out of something other than corn pretty quickly.”
And hydrogen, he says, is a ways off but that has potential.
But “in the mean time, in the short run, we didn’t allow exploration for oil and gas. and guess what happened, world demand exceeded supply and now you’re paying for it.”
Congress he says needs to get on the ball and allow “environmentally friendly” oil drilling in Alaska, an increase in refining capacity.
The president repeated a point that has been disputed by some. He said no refineries have been built in more than 30 years. But some oil execs have said that production has been expanded and that we have excess refining capacity.
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Bush’s idea of pain is our financial disaster. He’s a idiot and he’s beginning to propose using our taxpayer dollars to build the new refineries for those poor debt-laden oil companies.