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President Obama on Energy Policy, Car Sales, Disposable Income

By | Energy | One Comment

President Obama offered his vision for U.S. energy policy in remarks Wednesday at Gamesa Technology Corporation in Fairless Hills, Pennsylvania. Excerpt from the Q&A:

So number one, increase oil production.  But that’s not a short — that’s not a long — a short-term solution, and it’s a not a long-term solution, either; it will just — it will help a little bit.  Number two, more efficient cars so we’re using our gas more effectively.  Number three, shifting to electric cars and other forms of transportation so we don’t use oil as much.

None of that is going to help you this week, though.  So, like I said, if you’re getting eight miles a gallon you may want to think about a trade-in.  You can get a great deal.  I promise you, GM or Ford or Chrysler, they’re going to be happy to give you a deal on something that gets you better gas mileage.

Hat tip: Glenn Reynolds, Instapundit.