2/23/2012 3:40 PM ET
(RTTNews) - President Barack Obama Thursday called on the country to refocus the nation's energy production on renewable sources.
Speaking in Florida, Obama said that this year's rising gasoline prices highlight the need to move to more renewable sources of energy.
"Just like last year, gas prices are climbing across the country - except this time, even earlier," he said, according to a transcript of his remarks as prepared for delivery. "And that hurts everyone - everyone who owns a car; everyone who owns a business."
He added, "It means you have to stretch your paycheck even further. It means you have to find even more room in a budget that was already too tight."
Obama mocked some of the Republican presidential contenders who, he said, have a three-point plan for bringing down gas prices.
"Step one is drill, step two is drill, and step three is keep drilling," he said. "We heard the same thing in 2007, when I was running for President."
He added, "We hear the same thing every year. We've heard the same thing for thirty years."
Obama said that the American people were smart enough to realize that the GOP proposal isn't a plan worthy of the name.
"You know there are no quick fixes to this problem, and you know we can't just drill our way to lower gas prices," he said. "If we're going to take control of our energy future; if we're going to avoid these gas price spikes down the line, then we need a sustained, all-of-the-above strategy that develops every available source of American energy - oil, gas, wind, solar, nuclear, biofuels, and more."
He added, "That's the strategy we're pursuing, and that's the only real solution to this challenge."
Obama reiterated his position that "safe, responsible" domestic oil production would remain a part of the country's energy strategy, noting that America is producing more oil now than at any time in the last eight years.
"But here's the thing - that's not enough. The amount of oil we drill at home doesn't set the price of gas on its own," he said. "That's because oil is bought and sold in a world market. And just like last year, the biggest thing that's causing the price of oil to rise right now is instability in the Middle East - this time in Iran."
He added, "When uncertainty increases, speculative trading on Wall Street can drive up prices even more."
Beyond those short-term factors, Obama said, the biggest factor in the rise in gas prices is the growing economies in countries like China, India and Brazil.
"So what does this mean for America? It means that anyone who tells you we can drill our way out of this problem doesn't know what they're talking about - or isn't telling you the truth," he said. "We have to keep developing new sources of energy. We have to keep developing new technology that helps us use less energy."
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