March 1st, 2012
06:08 PM ET
Nashua, NH (CNN) - As gas prices climb to near $4 a gallon in some areas of the country, President Barack Obama Thursday warned there is "no silver bullet" to relieve the pain at the pump.
The president traveled to Nashua, New Hampshire, in the midst of a snowstorm, to lay out his administration's broad energy objectives. "[T]he key part of this strategy over the last three years has been to increase safe, responsible oil production here at home while also pursuing clean energy for the future. We don’t have to choose between one or the other, we've got to do both," Obama told the audience.
Highlighting his "all of the above" approach, President Obama pushed for Congress to take $4 billion in tax breaks from big oil companies. "[T]hese companies are making record profits right now - tens of billions of dollars a year,” said Mr. Obama. “Every time you go to the gas tank or fill up your gas tank, they’re making money."
And in his second visit in three months to this critical election battleground state, the president lashed out at Republicans for politicizing the issue of rising gas prices.
"The easiest thing in the world is to make phony election-year promises about lowering gas prices," said Mr. Obama. "But what’s harder is to make a serious, sustained commitment to tackle a problem that we’ve been talking about for 30 years," he said.