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    February 25, 2012

Obama: No 'Silver Bullet' for Rising Gas Prices

   VOA News

   IFRAME: [1]http://www.youtube.com/embed/TIrH_CPSQyY

   U.S. President Barack Obama says there is no "silver bullet" solution
   to offset rising gas prices, despite promises of $2-a-gallon gasoline
   by some politicians.
   During his weekly address Saturday, Mr. Obama said developing new
   energy sources such as wind, solar and biofuels are key to a
   sustainable energy solution over the long term.
   He said increasing drilling is not a plan, "it's a bumper sticker" to
   get politicians through an election. President Obama says U.S. oil
   production is already at an 8-year high.
   Mr. Obama chided Congress for continuing to reward profit-making oil
   companies with $4 billion in tax subsidies. The president suggested
   Congress renew clean energy tax credits that he says would generate
   jobs and reduce the need for foreign oil.
   In the Republican address, Senator Kay Bailey Hutchison of Texas said
   the president's policy is slowing down fuel exploration and drilling
   for oil and natural gas. Senator Hutchison says limiting drilling
   projects takes away jobs in the oil industry.
   She called on the president to get the Democratic majority in the
   Senate to back a bipartisan energy policy that she says would help
   American families.

   ^Watch Republican weekly address:

   IFRAME: [2]http://www.youtube.com/embed/7Dg6PScWo7I

   Some information for this report was provided by AP.

References

   1. http://www.youtube.com/embed/TIrH_CPSQyY
   2. http://www.youtube.com/embed/7Dg6PScWo7I