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O'Reilly weighs in on the President's handling of the rising oil price crisis
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Cynnex -- and -- -- high gas prices bring down the Obama administration.
Since President Obama has been an office a price for gallon gasoline as more than doubled.
Last year the average American family spent 4155.
Dollars on gas off.
840.
Bucks for 2010.
And gas prices continue to rise as you know.
The president believes that if the USA can shift into alternative fuels that will drive down gas prices so his administration.
As invested nearly 100 billion dollars in Green energy projects.
So far the results have been -- Nevertheless mr.
Obama is holding to his strategy.
We've got to develop every source American energy not just oil and gas -- wind power and solar power.
Nuclear power biofuels.
We need to invest in the technology.
That will help us use less oil well in our cars and -- trucks.
You know buildings not -- that's the only solution to the challenge because as we start using less.
That lowered the demand prices combat.
Braves' triple.
Me.
Enough.
The rhetoric may be straightforward but the results are not.
Americans have cut back drastically on oil consumption right now it's at a fifteen year low.
Home heating oil sales down 13% this year because of the warm winter so there's plenty of supply and the USA yet oil prices are going higher.
You just heard the president say that when we use less prices come down.
Not I don't.
There are two reasons for that.
One speculators are bidding up the price of oil because of Iran and other Middle Eastern -- of course the feds could change the rules on speculation requiring big money bidders.
To actually take delivery of the oil they buy on Paper.
But the feds have not done that.
And to.
US oil companies now export oil to China and other countries so domestic consumption -- -- much anymore they don't facility here does so there money's money.
And oil exports from the USA now bring American oil companies close to 100.
Billion dollars a year tall cotton -- So it's clear that no matter how much oil we don't block a the price can and will go up.
But we all understanding this.
Then there is the Chevy Volt big -- for the Obama administration.
If you buy the 40000 dollar hybrid electric car fits we'll credit you 7500.
Bucks on your taxes.
And you'll get a car that gets sixty miles to the don't sixty.
But production -- the -- is being suspended because not enough folks wanna buy one drawback some bolts -- caught fire not a friendly option.
We hope that someday electric -- will rule but the truth is not good enough to compete in the marketplace right now despite the big government invests.
Finally the feds are now paying wind -- forms in the northwest.
Not to generate power.
Like everything else in the energy business it's complicated but sometimes there's too much wind generated power and the delivery system becomes overflow.
Now is one of those times but in order to keep the -- people in business.
The feds are paying them to shut down.
Again our tax dollars -- work.
Bottom line chaos all throughout the energy industry.
Mr.
Obama is correct that alternative fuel would be great for this country.
But he's wrong about the massive public investment into risky situations those are not paying off and -- running up the national debt big time.
The private sector should be the developer with generous tax credits as incentives so question the federal government is allow the entrepreneur or.
At a -- is believe the gas prices will fall in face of increased competition seems to be very wishful thinking.
Sad truth is working Americans are getting hole was that the pop.
And there's no solution in.
