April 30th, 2008
01:20 PM ET
13 years ago

Bill Clinton: High oil prices here to stay

CNN

Watch Bill Clinton's comments Wednesday.

(CNN) – Campaigning for his wife in North Carolina, former President Bill Clinton said Wednesday that he’d be “very surprised if oil goes below a hundred dollars a barrel again in my lifetime.”

“There is a limited amount of oil in the ground and everyday more and more people can afford to buy it so they are gonna bid the price up,” said Clinton, who added that drivers have been forced to choose “between driving to work and having enough food for their kids.”

His wife Hillary Clinton has proposed a gas tax holiday – paid for in part by higher taxes on oil companies - that would give consumers a price break at the pump this summer. The New York senator has also called for a Federal Trade Commission investigation into possible market manipulation by oil companies or speculators.


Filed under: Bill Clinton
soundoff (284 Responses)
  1. Here we go

    So who is running against Obama? Bill or Hillary or both?

    April 30, 2008 02:37 pm at 2:37 pm |
  2. Ron, TX

    It is ABSURD to lift the gas tax 18 cents when gas is going to rise 100+ more cents before the summer even starts. How about doing something to FIX the problem, instead of putting a band-aid on a flesh wound?

    April 30, 2008 02:38 pm at 2:38 pm |
  3. Sharon Minnesota

    Ok, sound bite politics has risen it's ugly head again. Look below the surface of this story run the whole video and you will have to agree with President Clinton #1.

    There's more than one way to skin a cat. Lowering the price of Oil is only one way to get cheaper fuel to keep us moving and living well.

    We need inovation and Hillary Clinton is the candidate to provide it.

    April 30, 2008 02:38 pm at 2:38 pm |
  4. CANADA

    THE FIRST SMART THING BILL HAS UTTERED DURING THIS PRIMARY. THAT'S WHY IT'S IMPORTANT TO VOTE FOR A CANDIDATE THAT WILL GO HEAD TO HEAD WITH THE OIL LOBBY, AND INTRODUCE SOME COMPETITION, IN THE FORM OF ALTERNATE ENERGY SOURCES, LIKE ETHANOL. THERE IS NOTHING LIKE COMPETITION TO DRIVE THE PRICE DOWN. ALL THIS BULL ABOUT ETHANOL CROPS BEING RESPONSIBLE FOR HIGH FOOD PRICES AND SHORTAGES, IT'S ALL PROPAGANDA BY THE EXXON BOYS, WHO WOULD LIKE ETHANOL TO GO AWAY. OBAMA IS THE ONLY CANDIDATE THAT WILL PUSH FOR ALTERNATE ENERGY SOURCES.

    April 30, 2008 02:38 pm at 2:38 pm |
  5. Praetorian, Fort Myers

    This is not true.
    There is every possibility we could move prices back 15-20% for some time if we could increase our oil and natural gas resources in U.S. controlled real estate, and waters.

    Why has our senate–refused to take any action against increasing oil resources and production?

    We need realistic politicians–who won't wait until the train wrecks to fix "inconvenient" but eminent problems. If he'd not blocked drilling in Alaska–we could be using those resources right now to help lower our prices–because scarcity–at least in the U.S., wouldn't be an issue despite the global markets.

    Thanks Bill.

    April 30, 2008 02:38 pm at 2:38 pm |
  6. Nicolas Smith

    If oil prices are hear to stay then he and his wife should get out of the race. Yes I now it is his wife who is the canidate. But since prices are hear to stay I don't know how in God's name a Clinton adminstration is going to pay for all the pandering policies thy intend to implement. Telling people what they want to hear only works before the polls but it is different after the results.

    April 30, 2008 02:38 pm at 2:38 pm |
  7. ike in Atlanta

    Of course. He is one of those that benefit from the high price.
    So he and Hillary have no plan to make the price come down.
    very unfortunate.

    April 30, 2008 02:39 pm at 2:39 pm |
  8. Jay

    Get over it Herman..It was Obamas camp that spun SC out of control.

    April 30, 2008 02:39 pm at 2:39 pm |
  9. Chuck, Oregonians for Obama

    I do not believe any of the candidates are in a position to promise any relief in the near future. There are too many hurdles to over come, primarily with in the House and Senate. What needs to be done is those lobiest for the oil and auto manfacture companies need to be banned from the system and the government needs to force them into producing vehicles with greater fuel economy. What I do not get is why are we changing fuel types each year, why not just stick with the better of the two. Additionally, gas companies know they must change over every year, so why do they not have a better system set up... ie storage facilities that allow a smoother transiton without the spike in costs to the consumer. Lastly if there is a shortage of oil, why are we exporting Alaskan oil?

    April 30, 2008 02:39 pm at 2:39 pm |
  10. Ed

    I agree with Bill. However, it is one thing to point out the obvious, and it's another to actually address how we will solve our dependence on fossil fuels and the issue of global warming. What is sorely lacking from all of the presidential candidates is a specific plan regarding the country's energy policy.

    We've had debates about lapels and religion. I want to see a debate regarding energy and the environment! The candidate with the best understanding of the most important issue of all gets my vote!

    April 30, 2008 02:39 pm at 2:39 pm |
  11. Lets Get Ready for Change!

    Wow. This is encouraging! NOT!
    So, is Hillary's plan only going to help for this summer?
    OUCH!

    April 30, 2008 02:40 pm at 2:40 pm |
  12. Jamaal

    Bill you Know that that gas tax Holiday is a scam because it will only save the average American 25 dollars and it will cost America 10 billion in taxes that goes to Highways and Bridges I don't know if you rich elist people drive down these roads in America but we need every dollar to go to these roads not even talking about the American that will be out of a Job because they are construction workers

    April 30, 2008 02:41 pm at 2:41 pm |
  13. Sarah

    Bill Clinton is a big fat liar. Just like he couldn't put down those Whoppers, he can't resist telling them.

    This man is toast, and so is his lying wife.

    O8ama

    April 30, 2008 02:42 pm at 2:42 pm |
  14. Jack Walden

    Why is this news? Let me guess...Clinton News Network couldn't find enough to keep Hilary in the lime light.

    April 30, 2008 02:42 pm at 2:42 pm |
  15. Joe

    Lets get this tax holiday, its a good step, its not a long term solution but it could help us here in Virginia over the summer when our economy needs tourism to survive. If they do not come we (and many other states) will be in serious trouble. This is more than just a catch phrase to get votes, it should be a serious attempt to keep our vacationing population traveling to the Outer Banks of North Carolina and all of the tourist spots here in Virginia. The reach of such a tax break are more than just regular commuters...when did the media get so narrow minded to only look at $30 for the commuters, what about the resort areas that depend on thousands of travelers coming who might not if gas prices continue to climb.

    April 30, 2008 02:42 pm at 2:42 pm |
  16. Molly

    GO HILLARY GO BILL – You are right – and much better than Wright!

    Hillary Clinton is our best hope for the White House.

    Obama/Drama – No Obama
    New polls out show Clinton is favored to win!!!

    April 30, 2008 02:42 pm at 2:42 pm |
  17. Denny

    To: Parents/ Families of soldiers now fighting in Iraq

    We won't forget the sacrifice of your sons and daughters. We will bring this war to an end with dignity. We are not a police state, and do not have to referee a civil war. We will prevail for the soldiers and for America.

    We will also vote to have the men and women who are injured cared for–and it won't just be lip service. We will never forget their sacrifice.

    Obama 08

    April 30, 2008 02:42 pm at 2:42 pm |
  18. Jay

    I'm ashamed of Obama fans...You guys are just pathetic. You guys are going to divided our party with all your hateful comments.

    April 30, 2008 02:42 pm at 2:42 pm |
  19. HH

    Another reason to not let the Clitons anywhere near the White House-

    """"This time Bill will have nothing to do"""""

    Look what he did when he has a job.

    April 30, 2008 02:43 pm at 2:43 pm |
  20. tidho

    How is it possible that it won't go down if it was George Bush's fault?, lol. Finally some recognition that global market conditions (Chinese and Indian demand) are the true cause.

    I hope the media can stop giving Rev Wright free publicity long enough to mention that Hillary's gas tax scheme is idiotic. Sure i'd like lower gas prices but you can't fund it by charging oil companies. When you add operating costs to a corporation they do one of two things 1) cut jobs to offset the cost, or 2) raise their prices.

    April 30, 2008 02:43 pm at 2:43 pm |
  21. Chriss

    Yes, let's borrow more money from the Chinese to pay for the "tax holiday" and send the funds to the Middle East. What a stroke of genious! While we're at it, let's tax the oil companies who will in turn raise gas prices to cover that expense.

    I wonder if Billarys are behind the North Carolina robo-calls attempting to disenfranchise voters likely to vote Obama?

    see dailykos

    April 30, 2008 02:43 pm at 2:43 pm |
  22. Travis

    Barack has cut his albatross, but Hillary unfortunately can't cut hers.

    O8ama

    April 30, 2008 02:43 pm at 2:43 pm |
  23. Diing

    Whatever happen to "Vote your hope not fear."

    April 30, 2008 02:43 pm at 2:43 pm |
  24. Carrie

    Judging by her economic plan, Hillary knows even less about economics than Bill does, or both are willing to peddle what they know is false.

    The problem with the gas price is the similar problem with the housing bubble, both products of the deregulation from the Clinton administration. The dollar is falling, the investment refuge is moving from real estate to oil. Fix the speculation! That's something that Hillary will not do, because she's part of the problem.

    April 30, 2008 02:44 pm at 2:44 pm |
  25. Sure

    Which is why we need alternative fuels.....which Hillary supports.

    April 30, 2008 02:44 pm at 2:44 pm |
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