Business
Obama: Fuel-efficient cars an answer to gas prices
U.S. President Barack Obama. PHOTO/File
President Barack Obama says higher auto mileage standards set under his administration and better cars built by a resurgent U.S. auto industry will save money at the gas pump over the long term, a counterpoint to Republican criticism of his energy policy.
In his weekly radio and online address Saturday, Obama said Detroit automakers are on track to build cars that average nearly 55 miles per gallon by 2025, doubling current mileage standards.
“That means folks will be able to fill up every two weeks instead of every week, saving the typical family more than US$8,000 at the pump over time,” he said. “That’s a big deal, especially as families are yet again feeling the pinch from rising gas prices.”
During the past several weeks, Obama has been eager to appear aggressive in the face of rising gasoline prices even as he reminds audiences that there is no simple, immediate solution that will reverse the current spike in prices.
“What’s happening in Detroit will make a difference. But it won’t solve everything,” Obama said. “There’s no silver bullet for avoiding spikes in gas prices every year.”
By drawing attention to the auto industry, Obama looked to highlight both his efforts to improve fuel efficiency as well as his role in helping rescue General Motors and Chrysler. He also reiterated his call to end oil and gas company tax breaks and government subsidies that average about US$4 billion a year.
Rising oil prices have become a concern at the White House, where Obama aides worry they could hurt an economic recovery that has been improving and also harm the president’s re-election prospects.
