The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
April 25, 2006

Fact Sheet: President Bush's Four-Part Plan to Confront High Gasoline Prices

     Fact sheet In Focus: Energy

Today, President Bush Discussed The Four Parts Of His Practical Plan To Confront High Gas Prices. The President's plan includes making sure consumers and taxpayers are treated fairly, promoting greater fuel efficiency, boosting our oil and gasoline supplies, and investing aggressively in alternatives to gasoline, so we can eliminate the root cause of high gas prices by diversifying away from oil in the longer term.

America Is Addicted To Oil, And An Increasing Amount Of The Oil We Need Comes From Foreign Countries. Some of the nations we rely on for oil have unstable governments or agendas hostile to the United States. These countries know we need their oil, and that reduces our influence. We must not allow America to be put at risk by the unfriendly leaders of foreign countries.

It Is Important To Understand Why Gas Prices Are High. The market for oil is global, and America is not the only large consumer. Countries like China and India are consuming more and more oil, so global demand for oil is rising faster than global supply. As a result, oil prices are rising around the world, which leads to higher gas prices in America. America's gasoline demand is projected to increase this summer, and our refining capacity is stretched tight, making it difficult for supply to keep pace with demand. To compound the problem, we are undergoing a rapid change in our fuel mix - a transition from MTBE to ethanol in certain fuel blends, and that transition is temporarily pushing up gas prices even more.

The President's Four-Part Plan To Confront High Gasoline Prices Includes:

1.  Ensuring That American Consumers Are Treated Fairly At The Gas Pump.

2.  Promoting Greater Fuel Efficiency.

3.  Boosting Our Supplies Of Crude Oil And Gasoline.

4.  Investing In Alternatives To Oil, So That We Can Dramatically Reduce Our Demand For Gasoline.

Since 2003, The Administration Has Made Hydrogen And Fuel Cell Technology A High Priority. When hydrogen is used in a device called a fuel cell, it can deliver enough electricity to power a car that emits pure water instead of exhaust fumes. The Administration has dedicated $1.2 billion over five years to the research and development needed to get hydrogen cars into the showroom.

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