Obama Continues Talking About Gas Prices

By: Maria Gavrilovic
Topics: Barack Obama

(CBS)

From CBS News' Maria Gavrilovic:

(PITTSBURGH) Tackling high gas prices has been the dominant topic of Barack Obama's three week economy tour and today was no different. Obama hosted an "Economic Competitiveness Summit" at Carnegie Mellon University featuring over a dozen high profile business leaders who he pressed on gas prices and developing alternative energy sources.

"On something as important as our energy policy, we will need the kind of leadership that John F Kennedy showed when he said America is going to the moon," Obama told the group.

Panelist Rick Wagoner, the chairman of General Motoris, said GM will offer eight different hybrid models by the end of this year, but argued that developing biofuel technology is a better alternative. "If you really want to move and diversify our oil sources away from oil, using biofuels is the way we can do it fastest," Wagoner said. He stressed that any shift to alternative energy will be very expensive for both companies and consumers.

General Jim Jones, CEO of the Institute for 21st Century Energy, argued that United States is less stable because of its foreign dependency on oil. He said that roughly 2/3 of U.S. oil and gas is in foreign hands; "We have to free ourselves from that weight and that influence."

Obama proposed investing $150 billion in the green sector, intended in part to spark the development of alternative energy. In recent days, Obama said that he is unsure if gasoline will fall under $4/gallon anytime soon and stressed the need for energy reform.

"I don't have a crystal ball on oil prices, I think that, what we know is that over the next couple of decades, it is likely that the increase in demand is going to far outstrip the increase in supply and that's going to put pressure on prices unless we start doing a better job of using oil and all fossil fuels in a smarter way," he said.

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by jtyler271 June 27, 2008 12:37 AM EDT: These are all the power sources known to mankind

Posted by dragonfly4u at 06:02 PM : Jun 26, 2008

Really? That''s all you can think of? Seems that I just heard of a guy running his mercedes on vegetable oil.; Reply to this comment


by jtyler271 June 27, 2008 12:35 AM EDT: How long do you think it will take to get the first of the green going?? I will tell you, DECADES.

Posted by dragonfly4u at 06:02 PM : Jun 26, 2008

So, if we drill today, when will gas prices go down?

umm, decades.; Reply to this comment


by seah5 June 26, 2008 10:05 PM EDT: Obama should talk about them.

From his mouth and rambling on and on for almost 2 years that America was having tough times, that the cost of the war was hurting the economy. The surge is not working, all the stuff he spread and told the world.

Is he not bright enough to know our enemies would use that against us.

Best way to lose a war is cut of the oil supply and break the people and their support of the their country.

So Every Please Thank Obama for all the hardship this is causing you. Him and the Democratic party brought it to you in their power play for the government.; Reply to this comment


by wapotank June 26, 2008 9:02 PM EDT: Obama wants green fuel?? Tell exactly what alternatives he has. Try to be specific..electric, I think he could power us by wind alone, solar, oil, nuclear? These are all the power sources known to mankind....How long do you think it will take to get the first of the green going?? I will tell you, DECADES. So far none of these are good enough for Obama. He talks green, but has not 1 alternative, just the talk of alternative...His campaign is full of rhetoric, but not one specific answer..well, except tax, tax, tax...you think you pay now?? If this egomaniac takes office you will pay through the nose....lol!!; Reply to this comment


by mattcat25 June 26, 2008 8:22 PM EDT: That%u2019s funny Jack!
Attempting to Fear Monger the Democratic Presidential Candidate with comparison to your very own failed Republican Conservative President%u2026

LOL; Reply to this comment


by jack3213 June 26, 2008 7:23 PM EDT: It is Obama who will be the next Bush- NOT McCain.
Time to wake up to this fact. Between the self serving vain tactics and the celebrity status and all those insane empty promises it is no wonder even blacks are questioning his crediblity. He is nothing but a POLITICIAN in the worst form. This, my friends, is inexperiance.; Reply to this comment


by mattcat25 June 26, 2008 6:30 PM EDT: The Republican Part is Exxon/Mobil Oil.; Reply to this comment


by DCropp June 26, 2008 6:05 PM EDT: If only McCain and the Republicans would have pushed oil companies to drill in the largest oil deposit in the lower 48 states, we would not be in this mess.

In 1999, the USGS discovered a huge oil deposit in North Dakota and Montana. They estimated, it contained enough oil to meet US consumption for 20 years.

Good old Republicans are more concerned with Iraq, offshore oil, and ANWR than they are about helping Americans.

Republicans controlled Presidency and Congress from 2001-2006, but only made matters worse.; Reply to this comment


by juliekay44 June 26, 2008 5:25 PM EDT: McCain has only proposed that are meant to fool voters, such as his gas tax holiday that Congress will never approve because it is a bad idea and drilling that all experts agree will take 10 to 20 years to receive oil that will have an insignificant lowering of gas prices.; Reply to this comment


by jack3213 June 26, 2008 5:22 PM EDT: I AGREE ''BSWALKER'' 100%!!

ALL TALK- NEVER ANY ACTION! ( If he refers to Kennedy then hemust realize that his statement : "It is not what your country can do for you - but what you can do for your country" - should be enough to see that OBAMA HAS DONE NOTHING FOR HIS COUNTRY!

MCCAIN 2008- 2012; Reply to this comment