March 30th, 2011
02:33 PM ET
WASHINGTON (CNN) – President Barack Obama talked energy policy today on the campus of DC’s Georgetown University, repeating his view that “there are no quick fixes” when it comes to high fuel prices – taking direct aim at the Republican “drill, baby, drill” mantra from the 2008 campaign.
"Because it was the height of political season, you had all kinds of slogans, and gimmicks, and outraged politicians – they were waving their three point plans for $2 per gallon gas. You remember that – ‘Drill, baby, drill’ – and we were going through all that,” he said as many in the audience laughed.
“There was a lot of hue and cry, a lot of fulminating and hand wringing but nothing actually happened. Imagine that in Washington,” he added wryly.
“Drill, baby, drill” of course, was the Republican mantra made famous by Sarah Palin on the campaign trail – the notion being if the U.S. drilled more domestic oil, fuel prices would drop.
It was a notion Obama rejected as a candidate, and now as president.
“The United States of America cannot afford to bet our long-term prosperity and security on a resource that will eventually run out. Not anymore. Not when the cost to our economy, our country, and our planet is so high,” he said.
Instead, Obama, along with his energy secretary, Steven Chu proposed a longer term strategy that will reduce U.S. dependence on foreign oil not just by expanding domestic production, but by developing alternatives.
While Obama acknowledged that politicians have been talking about high fuel prices for decades, he confidently predicted that it’s “a challenge we will solve.”
And they just might. Both Obama and Chu won the Nobel Prize, after all.
"Chu has the Nobel Prize in physics – he actually deserved his Nobel Prize," Obama joked.