Barack Obama: I think that… we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn’t had an energy policy.* And as a consequence we’ve been consuming energy as if it’s infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are.
CNBC’s John Harwood: So could the (high) oil prices help us?
Barack Obama: I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money in their pockets, but also by encouraging the market to adapt to these new circumstances more rapidly, particularly U.S. automakers…
So Obama is not opposed to high gas prices. So we should not be surprised if we get no help from the administration in lower gas prices.
Then there is also this from December 2008 from Steven Chu
In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.
“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe,” Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.
But Mr. Obama has dismissed the idea of boosting the federal gasoline tax, a move energy experts say could be the single most effective step to promote alternative energies and temper demand. Mr. Obama said Sunday that a heightened gas tax would be a “mistake” because it would put “additional burdens on American families right now.”
Why just raise the tax when you can actually make money through investments and steer oil production and sales towards those investments?