Tags: gas | price | spike | obama

White House: Gas Price Spike is Markets' Fault

Tuesday, 21 Feb 2012 02:51 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Under fire from Republicans over rising gasoline prices, the White House on Tuesday highlighted factors beyond its control for developments on global oil markets, as it sought to deflect blame on a potentially damaging election-year issue.

"There are no magic solutions to rising oil prices," said White House press secretary Jay Carney, citing a "variety of factors on the global price of oil," including geopolitical unrest and rapid growth in India and China.

U.S. gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks that energy costs pose to the economic recovery.

Republicans have chided President Barack Obama for remarks they said appeared to welcome higher gas prices as a way to encourage Americans to change their use of energy use, and they plan to use gas prices as a weapon in the November election.

Obama, welcoming congressional approval of an extension of the payroll tax cut, said earlier on Tuesday the $40 per paycheck that this break was worth would help offset "the rising cost of gas - which is on a lot of people's minds right now."

"The president is very aware of the impact that the global price of oil has on families," Carney told reporters. "The fact that this is happening only underscores the need ... to have a comprehensive energy policy," Carney said.

After rising in January, the national price for regular unleaded gasoline in the United States hit $3.58 a gallon in the week through last Monday, according to the Energy Information Administration. It had started the year around $3.32 a gallon. (Reporting By Laura Macinnis and Alister Bull; Editing by Sandra Maler and Vicki Allen)

© 2014 Thomson/Reuters. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Boston Bomb Suspect’s Friend Pleads Guilty to Gun Charge

Friday, 19 Dec 2014 19:41 PM

A close friend of Boston Marathon bombing suspect Dzhokhar Tsarnaev pleaded guilty to owning the handgun Tsarnaev allege . . .

Obama Appointee's Group Accused of Illegal Politicking

Friday, 19 Dec 2014 19:09 PM

A nonprofit group run by an Obama administration appointee may have supported Democratic mayoral candidates in Californi . . .

Rep. Erik Paulsen: Obamacare About to Hit Every American

Friday, 19 Dec 2014 18:41 PM

Minnesota Rep. Erik Paulsen says that every American is about to feel the effects of Obamacare when tax season hits in 2 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved