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Thursday, March 17, 2011

Obama Energy Advisor: Energy Prices Will Remain High for the Rest of the Year

A little upset over gas prices?

Don't worry the Obama Administration says there is no end in sight this year.

According to CNS News, Obama's Energy Advisor says we won't see a reduction in gas prices for the rest of the year:

"Washington (CNSNews.com) - In testimony Thursday before the House Natural Resources Committee, Richard Newell, the administrator of the U.S. Energy Information Administration, told congressmen that gas prices will likely stay well above average for the remainder of the year.

“EIA expects continued tightening of world oil markets over the next two years, particularly in light of recent events in North Africa and the Middle East the world’s largest oil producing region,” said Newell.

“Our latest forecast, issued earlier this month, predicts that regular gasoline at the retail pump will average $3.70 per gallon this summer and $3.56 cents per gallon through the entire year which is about $.77 higher than last years levels.”

The fact that the Obama Administration is not concerned with the continued high cost of gas is no surprise.

Because in 2008 he said he supports High Gas Prices, so that he can push through his Energy Agenda.


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