Tuesday, March 13, 2012

How can you tell it's an election year? Obama energy chief disavows ’08 remark favoring higher gas prices.

Gee, nothing to do with political expediency, right?
(The Hill) Energy Secretary Steven Chu on Tuesday disavowed his 2008 comments about increasing gas prices to European levels, remarks that Republicans have pounced on in recent weeks.

“I no longer share that view,” Chu said during a Senate Energy and Natural Resources Committee hearing, adding that he wants to lower gas prices.

Chu, who just four years ago talked of boosting the price of gasoline to the levels of Europe, on Tuesday said higher gas prices could slow the economic recovery. [...]

Chu's disavowal of his earlier comments is the latest sign of concern from the Obama administration over how rising gas prices could hurt the president's reelection changes.

Obama in the first months of the year had been bolstered by an improving economy and the GOP primary fight, but two polls this week showed his approval ratings dropping as the price of gas nears $4.00 per gallon.

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