McCain says gas prices won’t drop and could rise
WASHINGTON
Record high prices for gasoline probably won’t drop before the November election, Republican John McCain said Wednesday.
” I don’t think it’s going much lower, and it could go higher,” McCain said on NBC’s “Today Show.” “I don’t think so, not when you’ve got a finite supply, basically, and a cartel controlling it.”
Although the GOP presidential candidate didn’t address the question of raising taxes on oil companies, he said the companies “absolutely” should return some profits to consumers. “And they should be embarking on research and development that will pay off in reducing our dependence on foreign oil,” he said.
“The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is very strong and justifiable emotion about their profits,” McCain said.
The issue of oil company profits came up this week in the Senate, where Republicans stopped the Democrats from imposing a tax on windfall profits and taking away billions of dollars in tax breaks in response to the $4-a-gallon price of gas.
In the past McCain has indicated he would consider such a tax proposal, saying he didn’t want to see companies making “obscene profits” that distort the market.
McCain used the opportunity to bring up his proposal for a gas tax holiday that would suspend the federal tax of 18.4 cents per gallon, a proposal that Democratic rival Barack Obama dismisses as a gimmick. Critics say that cutting the price would only increase demand, which would lead to higher prices again.
“Look what’s happened to Americans who are on a fixed income, particularly low-income Americans — that’s why I wanted to give them a little break,” McCain said. “They drive the furthest. They drive the automobiles that use the most gasoline. I wanted to give them a little break for the summer.”
In the interview, McCain said President Bush’s strategy to increase the number of troops in Iraq last year is working. McCain has been an ardent supporter of the Iraq war, but he criticized the early handling of the war, saying Bush did not send enough troops initially. In fact, he challenged the characterization that the strategy of increasing troop levels was Bush’s: “May I correct that statement? I advocated the surge policy before President Bush.”
McCain was asked if, since he argues the strategy is working, he has a better estimate for when U.S. troops could leave Iraq.
“No, but that’s not too important,” McCain said. “What’s important is casualties in Iraq.
“Americans are in South Korea. Americans are in Japan. American troops are in Germany. That’s all fine. American casualties, and the ability to withdraw. We will be able to withdraw. … But the key to it is we don’t want any more Americans in harm’s way.”
Obama wants to begin withdrawing troops from Iraq, which McCain opposes.
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Wild Thing’s comment……
Hey McCain you are part of the problem NOT part of the solution you jerk. Here is a suggestion,. go read your GREEN earth bs at your campaign webstie and start humming. That should make you feel better when you have to
‘filler up’ at the gas station.
And I swear if these Democrats and rinos don’t stop blaming the oil companies I am going to send the OIL COMPANIES some kind of friendship card and a box of candy and tell them I am on their side and not to listen to the BS from our liars in our government blaming them.
Enough blaming the oil companies. Shumer, McCain etc. all of them blaming the wrong people. The problem lies at the feet of the enviro’s and dems and rinos..
Unbelievable…McCain needs to come back to the “right” side. I am sick of the liberals single handedly shutting down what we need to do ourselves…drill, drill, drill….and look for more oil in this country and tapping it and building a few more refineries…whether they like it or not oil is not going away anytime soon and I don’t mind saying I like my fosil fuel burning vehicles!! i will never own an electric/hybrid b.s. vehicle and will continue to use gas as long as I can get my hands on it! Ronnie Reagan is probably turning over in his grave right now at the state of this pathetic liberal lead country…makes me sick!
These one-liners apply to both John McCain and Barack Hussein Obama.
“If we don’t protect freedom of speech, we will never know who the assholes are.”
“It’s better to keep your mouth shut and have people think you are a fool than to open it and remove any lingering doubt.”
My advice to McCain and Obama —- SHUT UP!
My advice to voters —- BEND OVER, PUT YOUR HEAD BETWEEN YOUR LEGS, AND GET READY TO KISS YOUR ASS AND COUNTRY GOOD-BYE.
Fact #1: Last oil refinery built was in 1976 in Yuma Az.
Fact #2: $upply and demand!
Fact #3: US legal and ILLEGAL population has increased BIG TIME since 1976!
– PAVE THE WHALE & SCREW THE CARIBOU… DRILL BABY DRILL!!!!
Dennis, I agree, Reagan would hate this baloney and he would see it for that too.
Les, your right those one liners apply to both of them.
Darth, on TV the other night they said the enviro’s said years and years ago doing the Alaska pipeline would endanger the Caribou.
But get this…..LOL…… they told about this the other night on the news….. the Caribou are not only doing great they love to hang out around the pipeline because it is warm and they like it.
LMAO so much for the stupid enviro’s.