In a Live5 News interview yesterday, President Obama said this:
“Gas prices continue to be an ongoing problem,” said Obama. “I’m proud of the fact that under my administration, oil production is higher than it has been in a decade or more. We have seen a doubling of fuel efficiency standards on cars over the next several years, so that is saving people money at the pump.”
The president said one of the things that must happen in order to lower gas prices is to make the “overall economy use less oil.”
“Unfortunately because of world-wide demand, oil prices are going to keep going up and down until we put in place some of the energy saving proposals I talked about in the State of the Union,” Obama said.
When President Obama says, “one of the things that must happen in order to lower gas prices is to make the “overall economy use less oil,” he means he will implement the failed cap & trade system via the EPA, ignoring Congress and the balance of powers.
He said he would put his cap & trade system through via regulations and the EPA in his SOTU.
Cap & Trade is a tax on usage. The rich can afford it, corporations will pass the costs down, and the middle class will suffer. This is a tax on the middle class so they, the bulk of the population, use less of it. That was always the intent. The elite will be fine.
Efficiency standards on cars have not yet taken hold and have saved nothing. His comment in the Live5 interview about the standards lowering gas prices is disingenuous.
Oil production is up despite him because of shale development on private lands.
Read More: http://www.independentsentinel.com/