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President Obama: Oil Is ‘Fuel of the Past’

By Guest Contributor on March 7, 2012 at 4:31 pm

"President Obama: Oil Is ‘Fuel of the Past’"

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Speaking at a Daimler truck plant in Mount Holly, N.C., President Barack Obama threw down the gauntlet on the issue of America’s oil addiction, challenging the U.S. to decrease its dependence on oil. “We need to invest in the technology that will help us use less oil in our cars and our trucks, and our buildings, and our factories,” Obama said. “That’s the only solution to the challenge. Because as we start using less, that lowers the demand, prices come down. Pretty straightforward.” In an effort to sway consumers to buy more fuel-efficient vehicles, Obama proposed making electric cars more convenient and a bit more affordable by 2020, in addition to offering greater tax incentives to those who take the plunge.

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