Obama Holds Press Conference On Energy Prices


President Obama is holding a press conference on energy prices.

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The speaking begins:

  • First comment is about Japan, and the heartbreaking disaster. We have an aircraft carrier en route. US embassy personnel have moved to an off-site location.
  • Now talking about the price of gasoline. “Families feel the pinch every time they fill up the tank.” Rising prices are not a new phenomenon. This is similar to three years ago before the crisis.
  • Here’s the good news: The global community can manage any supply disruptions. We’re taking various measures to deal with oil prices, and is watching out for price gouging. The other good news: America is less efficient than it used to be. Meanwhile, the tax deal will help cushion the blow.
  • Obama calls for energy investments. More domestic production of oil in gas.
  • T. Boone Pickens: “This is one emergency we can’t drill our way out of.” Talking about efforts to break dependence on oil. Lots of talk about new innovation, technologies, etc.

Q&A time:

Question: What’s your thinking on Libya? Why not a strong response?

Obama: We are slowly tightening the noose. Arms embargo, etc. I haven’t taken any options off the table at this point.

Question: Are you concerned that Obama, recognising that he has no options, will go into a massive firefight with his own people.

Obama: Yes, I am concerned.

Question: On the budget: There have been questions about your leadership…

Obama: Right now it’s important to understand that we’re talking about last year’s business. There are something that I won’t accept. Some deep cuts. The notion that we would cut Pell Grants, when we know that the single most important thing is education… that makes no sense

Question: Jake Tapper asks about the US rushing assistance to the nuclear power plant. He also asks about the treatment of Bradley Manning.

Obama: American assistance to the nuclear power plant is a precaution. On Bradley Manning, he says he has personally asked the Pentagon about his treatment.

Question: At what point would you tap the Strategic Petroleum Reserve? Is there a specific price?

Obama: I won’t lay out specific prices, but I will say that the Hurricane Katrina is an example.

It’s over…

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