- (PHOTO: Reuters/Kevin Lamarque)
President Obama has come under criticism this week for the surging gas prices, but explains there is not one fix-all answer to this problem.
On Thursday the president was in Florida to highlight his achievements regarding domestic energy policies and also addressed his rival's claims that there is an easy solution to reigning in gas prices.
"You know there are no quick fixes to this problem. You know we can't just drill our way to lower gas prices," he told an audience at the University of Miami. He made references to the continuing instability in the Middle East and rising demand in China which were aiding in the higher gas prices.
"If we're going to avoid being at the mercy of these world events, we've got to have a sustained, all-of-the-above strategy that develops every available source of American energy. Yes, oil and gas, but also wind and solar and nuclear and biofuels," he said to applause.
Analysts have stated that Obama does not have many options in order to bring down prices in the near future. The president has claimed that his energy policies had shifted from focusing on renewable fuels to promoting nuclear energy and natural gas.
"Basically he's come a long way from the campaign of '08. I think that reflects pragmatism on his part," said Guy Caruso, a senior adviser on energy at the Center for Strategic and International Studies.
Obama also made a point in the speech to call out his rivals, stating that they were using hollow promises and unrealistic goals to win political favor.
"It's the easiest thing in the world to make phony election-year promises about lower gas prices," Obama said. "What's harder is to make a serious, sustained commitment to tackle a problem."
Obama continued: "And it won't be solved in one year, it won't be solved in one term, it may not be solved in one decade. But that's the kind of commitment we need right now."
He said current U.S. oil production is at its highest level in eight years, and U.S. reliance on foreign oil imports had fallen below 50 percent.