Weekly remarks: GOP's James Lankford on high gas prices; Obama has no problem with oil profits, but...

Weekly remarks by President Obama, as provided by the White House

After the worst recession since the Great Depression, our economy is growing again, and we’ve gained almost 2 million private sector jobs over the last 13 months. But I also know that a lot of folks aren’t feeling as positive as some of those statistics might suggest. It’s still too hard to find a job. And even if you have a job, chances are you’re having a tougher time paying the rising costs of everything from groceries to gas. In some places, gas is now more than $4 a gallon, meaning that you could be paying upwards of $50 or $60 to fill up your tank.

Of course, while rising gas prices mean real pain for our families at the pump, they also mean bigger profits for oil companies. This week, the largest oil companies announced that they’d made more than $25 billion in the first few months of 2011 –- up about 30% from last year. 

Now, I don’t have a problem with any company or industry being rewarded for their success. The incentive of healthy profits is what fuels entrepreneurialism and helps drives our economy forward. But I do have a problem with....

...the unwarranted taxpayer subsidies we’ve been handing out to oil and gas companies -– to the tune of $4 billion a year. When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right. They aren’t smart. And we need to end them.

That’s why, earlier this week, I renewed my call to Congress to stop subsidizing the oil and gas industries.  Understand, I’m not opposed to producing oil. I believe that if we’re serious about meeting our energy challenge, we need to operate on all cylinders, and that means pursuing a broad range of energy policies, including safe and responsible oil production here at home. In fact, last year, America’s oil production reached its highest level since 2003.

But I also believe that instead of subsidizing yesterday’s energy, we should invest in tomorrow’s –- and that’s what we’ve been doing. Already, we’ve seen how the investments we’re making in clean energy can lead to new jobs and new businesses. I’ve seen some of them myself –- small businesses that are making the most of solar and wind power, and energy-efficient technologies; big companies that are making fuel-efficient cars and trucks part of their vehicle fleets. And to promote these kinds of vehicles, we implemented historic new fuel-economy standards, which could save you as much as $3,000 at the pump.

Now, I know that in this tough fiscal environment, it’s tempting for some in Washington to want to cut our investments in clean energy. And I absolutely agree that the only way we’ll be able to afford the things we need is if we cut the things we don’t, and live within our means. But I refuse to cut things like clean energy that will help America win the future by growing our economy and creating good-paying jobs; that will help make America more secure; and that will help clean up our planet in the process. An investment in clean energy today is an investment in a better tomorrow. And I think that’s an investment worth making. Thanks for listening, and have a great weekend.    ####

Weekly remarks by Rep. James Lankford, as provided by Republican Party leadership

Hello, my name is James Lankford, and I’m a freshman member of Congress, working for the people of Oklahoma’s 5th Congressional District.

When I listen to my constituents about the challenges they face, skyrocketing cost of gasoline is at the top of the list.  Prices at the pump have nearly doubled since President Obama took office, making everyday life like driving to work, buying groceries, picking up kids at school and visiting family more expensive. 

Even worse, the rising price of fuel is costing jobs and hurting our economy. Higher energy prices hit virtually every American product and industry, making it more expensive to manufacture products, more expensive to ship goods, and more expensive for farmers and ranchers. In fact, higher energy costs make everything made in the USA more expensive, and send more good-paying jobs overseas.  

Americans are looking for leadership to tackle the rising gas prices, but President Obama has only offered a tax increase on energy and the prospect of reduced supply.  For more than two years, his administration has knowingly increased energy prices by choking off new sources of traditional American energy and smothering our economy in new energy regulations.  His latest proposal -- hiking taxes by billions of dollars –- will not lower gas prices and would actually make the problem worse.

In my state, and in many other states, thousands of people depend directly on American energy production for their paychecks. The president may think he’s punishing CEOs of big companies, but his plan will hurt the everyday consumer of energy and imperil the jobs of millions of hardworking people in American-based companies. 

There is a better way. Republicans are focused on expanding all American energy production to help lower costs, reduce our dependence on foreign oil, and create millions of American jobs. 

Next week, the House of Representatives will begin this process by passing legislation to increase the supply of American energy and create jobs. This legislation is part of our American Energy Initiative –- an ongoing effort to lower costs and allow the private sector to create more American jobs.

Quite simply, if the president chooses to punt on real long-term solutions for energy and gas prices, we will take the lead. 

Two weeks ago, I was proud to cast my vote in the House for a budget that promotes economic growth and job creation by putting us on a path to pay down our debt, and preserve Medicaid and Medicare for current retirees and future generations.  Our national debt is worse than most people realize. We must solve our budget problem, not just talk about the crisis. 

The president’s budget proposal fails to offer a credible plan that meets the nation’s challenges in a serious manner.  He considers it radical and extreme to balance the budget by doing what every American business and family does in tough times – they reduce spending.

We need to be honest with the American people. Washington should not overspend, then go to the American people and demand a tax increase because we cannot make the tough decisions. 

And, we cannot ignore the fact that tens of millions of baby boomers are beginning to retire while Medicare is already teetering at the brink of insolvency. We must stabilize, and protect Medicare and Medicaid. 

Let me be clear: The Republican plan would not affect current Medicare beneficiaries, or any American 55 or older. To address Medicare’s looming insolvency though, we put in place a plan to save Medicare for those under 55.  We want them to have access to the same kind of medical retirement options that members of Congress and all federal employees benefit from. 

The president’s proposal protects the status quo: an unsustainable system that will bankrupt Medicare and lead to future deep, painful benefit cuts for seniors, while continuing to pile trillions of dollars of obligation on the backs of future generations. 

The world is watching to see how we’ll handle our debt. Everyone wants to know if we’ll just pile up more debt with no plan to ever pay it off, or if we will find a way to permanently work on our national debt. 

The president wants us to raise the debt limit with no real reforms to stop future Washington spending binges. To let Washington borrow even more money from the Chinese and hand the bill to our kids and grandkids. This would be a stark moment in American history, when a president would intentionally declare: ‘times are tough, I think I’ll make life tougher on my kids and grandkids’ generation to make life easier on me and my generation.’

We have responded differently: The American people will not tolerate an increase in the debt limit unless it comes with meaningful steps to cut Washington spending and start working us out of debt.  No more blank checks and huge bills on our children so someone in Washington can retain power. 

On gas prices, the budget and the debt limit, we will continue to offer real solutions to lower gas prices, create jobs, and ensure the next generation still has a shot at the American dream. 

Our nation’s been through difficult times before. We can do this if we will work together to solve the problems instead of just talking about them. May God bless our families and our great nation. Thank you for listening.     ####

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Weekly remarks: Gov. Bob McDonnell says Obama cuts Medicare

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Photos: Nicholas Kamm / AFP / Getty Images; Alex Wong / Getty Images; Rep. Lankford's office.

Comments

[Tired]

Obama you have failed us. My vote would now go to hitler if he were a choice. We need some hard nose dictator to punish the people and their families for causing the gas prices to go up. Words are cheap Mr President, we are tired of hearing the same line over and over. The USA has become a sad place to call home, for this we can thank the president...So thanks

[Tom]

The President forgot to add that due to legislation passed over the past 2 1/2 years, and by printing phoney dollars and throwing those dollars at every problem, the value of the dollar has dropped about 20% since he took office with a Congress run by Democrats.

It's not just gas that's up, it's gold, silver, and a number of comodites. Compare those prices on January 19, 2010, the day before the President took office, and today.

Based on his feeling of subsidies, he should recommend to Congress that they cut "all" subsidides on a equatable basis. Which would be a first, but be great for us all.

Time to stop corporate welfare not only of oil companies, but so called "green" corporate welfare. The vast majority of those industries are not cost efficient, cause massive pollution in manufacturing their products, and actually waste energy.

Yes Mr. President...your points lead one to believe you believe in a "flat tax" for all so special interests cannot have an advantage. Maybe you could suggest that to Congress.

[Yogi]

Sounds like the GOP is ahead of the President on this crisis.

[HRose]

"The president’s budget proposal fails to offer a credible plan that meets the nation’s challenges in a serious manner. "

Yeah, let's enact Ryan's plan. Balance the budget on the back of the dwindling middle class and give the rich another 30% percent in tax cuts.

More trickle-down "economics". Because it's worked so well since the 1980's and the American public is ignorant.

[subiaco10]

Political posturing at its best.....selective amnesia has set in:

How quickly he'd like the voters to forget how "deftly" he handled the Wall Street Orgy.....wake up Pres, this issue as at the root as most of the country's current problems

[verysoreloser]

The GOP, including this guy, are acting clueless. If anything, Obama has mentioned speculators and that is the true issue. The GOP keeps harping on energy supply, but there is currently and oil glut. Low demand, high supply, but yet still high prices. Its an antitrust, anti free market issue. Speculators are bidding up 'paper barrels/gallons' with no intent on taking delivery. They just hope someone buys at a higher price so they can sell. Including this guy:

http://nymag.com/daily/intel/2009/04/citigroup_andrew_hall_needs_a.html

Here is the solution:

http://news.firedoglake.com/2011/04/29/sanders-wants-crackdown-on-wall-street-speculation-on-oil-prices/

[Francis1]

Shocking: Obama paints a rosy picture, and Lankford paints a picture of fear. I am an independent and will never vote for a Republican or Democrat - is there any difference? My questions to Lankford: Who was the last party to balance the budget? What president made a couple decisions that have cost trillions of dollars? Who do you trully think is more responsible for the debt: Bush or Obama? Tell the truth: your God is watching.

[susan]

His lips are moving.. he's lying!

[BigRez]

I agree with the president that we should not be subsidizing oil companies. I disagree, however, with moving those subsidies to another sector. The government need not be in the business of business or of choosing winners and losers based on the winds of populism. And stop calling oil the energy of the past. When the majority of goods and people in this country are moved from place to place through non oil means, then it will be the energy of the past. Merely stating that it's time is gone and punishing those who produce/use oil is not only punitive but unproductive. Get out of the way, let the American economy get back to work and cheer for record profits in all sectors. That will lead to more of jobs and more tax revenue.

[angelino]

We Americans are the only people on earth that pay so little for oil and gas. Every other country with a standard of living similar to ours pays no less than DOUBLE what we pay for gasoline, diesel and even motor oil. Sure Mexico and Venezuela have similar prices to ours, but they also earn less than a third of what we make. In other words, they pay TRIPLE or more from their disposable income. The amount of gas we WASTE, "warming up" our engines and idling while waiting for the drive-thru lines would supply most countries with more than they use. It's all about supply and demand. Use more and there's less supply. STOP SUBSIDIZING BIG OIL!! Why should their bottom line be increased by reducing their expenses with our tax money??!!

[centerlane]

The GOP appears to be composed of total idiots, as if it is Obama's fault of gas prises being "high", it's inflation fanned by the idiots at the Federal Reaserve who are hellbent to create more inflation. As a 30 year long Republican I will not vote for these clowns ever again.

[Virgil]

When President Obama speaks of oil company profits in this quarter, he neglects to mention that one of the oil companies (maybe Shell) has spent over 2 billion dollars in the last few years to lease and explore an area in the Beaufort Sea, only to have the EPA deny the permit at the last moment, over concerns, not of an oil spill, but air pollution. This has led to a call in Congress to move off-shore permitting from the EPA over to the Interior Department, where on-shore drilling is permitted.

When President Obama wants to use oil company profits as a talking point, he should at least be honest enough to own up to the huge costs that the oil companies are absorbing because of the bumbling idiots he appointed to the EPA.

Virgil
http://evolvenow-alp.blogspot.com/

[JOE S]

I HERE YOU TALKING MR. PRESIDENT, BUT DO THE GREEDY OIL BARRONS, WE ARE AT WARS BECAUSE OF THEM, THE THREAT OF TERRORISM,IS THERE FRONT, , AND YES IT IS A REALITY IN OUR WORLD(TERRORISM),BUT JUST THINK, WERE WOULD THESE COUNTRIES BE IF WE NEVER SOUGHT TO BUY OIL FROM THEM, THE USA IN THE INDUSTRIAL ERA,WAS NOT BUILT ON MIDDLE EAST OIL, JUST THINK, OIL COMPANYS PUT THE SPIN ON TERRORISM JUST FOR PROFIT, AT THE COST OF OUR BRAVE SOLDIERS, PROTECTING THEIR INTREST,PROFIT AT ALL COST,DIPLOMCY SHOULD BE USED, STATE THE POINT TO THE MIDDLE EAST COUNTRIES THAT WE WILL STOP BUYING YOUR OIL,WE HAVE HAD A HARD LINE WITH CUBA FOR DECADES, NO IT IS TIME FOR A HARD LINE WITH THE MIDDLE EAST,OUR TROOPS SHOULD COME HOME, THEN WHAT EXCUSE CAN THE COWARDLY TERRORIST USE, WE HAVE THE BEST SURVILANCE, INTELLIGENCE, IN THE WORLD WHEN USED FOR GOOD, THIS WAR STUFF IS IS EATTING AT OUR MORAL FABRIC LIKE MOATHS, MUST THE PROFIT MARGIN BE A STEEP PRICE FOR WAR,AND IF WE ARE SO BROKE AND IN DEBT, HOW CAN THE SENATE, CONGRESS, AND YOUR ADMINISTRATION KEEP SPENDING MIILIONS WEEKLY TO KEEP IT GOING, HOME (USA) NEEDS TO BE PRORITY ONE!

[ugg]

Everything Billionaires tell you is perverse. Billionaires do not care about the National Debt. They have plenty of money no matter how bad things get. They are not worried about leaving our children with huge debt. Their children will have all the money they need, no matter what.
However; they do care about keeping labor cost down. If everyone is rich, things will be the same as if everyone is poor. Their main thought is to keep a huge difference between the wealth you possess and the wealth they posses. They work with one hand over the table and the other more important hand under the table. They must always know what they know plus what you know in order to know twice as much as you do. That is why they say; knowledge is power, and that is why they keep you in the dark and feed you manure. The wealthy people like Gates and Buffett are the best of the wealthy; they do not deceive the voters to obtain more profits. The Profiteers who keep their money offshore and avoid taxes are the same ones trying to get their agenda rammed through Congress by their favored Congressmen. Keep your eyes and ears open to see if you can tell just who these Congressmen are?

[Soapy Johnson]

It's more than speculators, more than the weak dollar. The "Jed Clampett Time Travel" theory will tell you all you need to know ... http://placeitonluckydan.com/2011/04/gas-prices-rapin-everybody/

[Robert E]

Both Republicans and Democrats have sold the American people on committing billions of dollars for Clean Renewable Energy Projects that would reduce our dependence on foreign oil. Now that gas is over $4/gallon and many of these projects are in progress, they are strangely quiet when they should be proclaiming their Foresight from on high. They are not because wind, solar and geothermal RE produce unneeded electricity and are not a replacement for oil that is refined into gas.