And yet we just lent Brazil billions so they can drill for oil that we will end up buying. Insanity at its finest.
(The Hill) — President Obama called for the elimination of billions of dollars in oil industry tax breaks Friday, while stressing that the United States can’t drill its way out of high gas prices.
“We can’t just drill our way out of the problem,” Obama said during an energy policy speech in Indiana Friday. “If we’re serious about addressing our energy problems, we’re going to have to do more than drill.”
Obama’s remarks come as Washington policymakers are feeling pressure to take action to address high gas prices, which are nearing a nationwide average of $4 a gallon.