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April 28, 2005

Energy 101

From tonight’s press conference:

Q: Good evening, Mr. President. Several times we’ve asked you or your aides what you could do about the high price of gasoline, and very often the answer has come back, Congress needs to pass the energy bill. Can you explain for us how, if it were passed, soon after it were introduced, the energy bill would have an effect on the current record price of oil that we’re seeing out there?
THE PRESIDENT: John, actually I said in my opening statement that the best way to affect the current price of gasoline is to encourage producing nations to put more crude oil on the market. That’s the most effective way, because the price of crude oil determines, in large measure, the price of gasoline. The feed stock for gasoline is crude oil, and when crude oil goes up the price of gasoline goes up. There are other factors, by the way, that cause the price of gasoline to go up, but the main factor is the price of crude oil.

Wow. Guess you have to come from Texas to know this stuff.

Posted by Stephen at 10:28 PM in Energy + environment | Permalink | TrackBack (0)

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