Tags: Barack Obama | Obama | oil prices | rise | politics

Rising Oil Prices Mire Obama in Political Quandary

By Dan Weil   |   Tuesday, 08 Mar 2011 12:53 PM

The surge in oil prices is causing major political problems for President Barack Obama. While he mulls selling oil from the Strategic Petroleum Reserve as a solution, Republicans argue that will provide only temporary relief to consumers and announced new hearings on energy policy Monday, The Hill reports.

Tom Price, oil prices, Obama, problems, The Hiull
Georgia Rep. Tom Price
Democratic energy policies “have cost jobs, stunted economic growth and stuck American families with higher energy bills,” said Georgia Rep. Tom Price, chairman of the House GOP Policy Committee. “The rise in gas prices is not merely the consequence of some temporary disruption and will therefore not be solved by some short-term fix. It is a problem that requires an all-of-the-above energy strategy and one that should begin immediately.”

Utah Sen. Mike Lee and other Republicans criticize the president for putting unreasonable limits on domestic oil production. “When we produce energy here, when we produce oil here, the revenue stays here and that helps Americans,” he said on Fox Business Network.

“That doesn't mean that we have to categorically shun all products from anywhere else, but where we've got a commodity that everybody needs, like oil, and great abundance right here in the United States, we ought to be producing all we can.”

Bottom line: “This administration seems hell-bent on producing as little as we can here, and that's suicidal,” Lee said.

The money we spend importing oil goes to countries “where a lot of people don't like us very much, and they're using that money to fund the acts of terrorism against us in many incidences,” he said.

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