April 30th, 2008
01:20 PM ET
14 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. Patrick

    Oil companies have been investigated time and time again for market manipulation and haven't been found ONCE to have ever done anything wrong. It's troubling that Senator Clinton fails to understand the basic laws of supply and demand.

    April 30, 2008 02:44 pm at 2:44 pm |
  2. gerald strother

    BILL YOU ARE ALL (BULL)

    April 30, 2008 02:45 pm at 2:45 pm |
  3. Farrell, Houston, Tx

    Whether you are a Hillary supporter or not, there is one thing Bill Clinton does know and that's economics and how money works. I support Obama but if Hillary is the nominee she will get my vote.

    April 30, 2008 02:45 pm at 2:45 pm |
  4. Neutral

    I couldn't agree with your more Mr. President, it is not a renewable source of energy. The best thing we can do right now is move towards biofuel, Brazil is way ahead of us on that. They've move to biofuel after the oil embargo in the 70's. Hillary has a good plan how to do it, the biggest problem their would be less food supply in the world market, we would be using corn, soybeans, peanuts for biofuel. USA is the bread basket of the world, but we have to take care first of our own backyard before we start worrying of our neighbor's backyard. Countries like Philippines is now moving towards renewable energy, there's a plant that produces natural diesel, their government is funding the planting of such plant for biodiesel. The engine don't have to be modified to use it.

    April 30, 2008 02:45 pm at 2:45 pm |
  5. African American woman- pA

    You guys suck!

    yOU JUST WANT TO JUMP ON CLINTON FOR NOTHING...

    HE IS TELLING THE TRUTH >>>>

    WE NEED ALTERNATIVE ENERGY SOURCES

    HONESTLY, AS A OBAMA AND HILLARY SUPPORTER, the Obama freaks are really scaring me and turning me off to him. I just cant stand to see the party beating up on the Clinton's. This is a competition and they are trying to compete! WHAT IS WRONG WITH THAT? Do democrats have to try to jump on him every chance that they get. Geeez you guys are far worst than the republicans!

    As a lifelong democrat of 20years I am ashamed of my party...

    I will be voting Independent in Nov. bc I cant stand my party anymore. We eat our own. We deserve to lose.

    It will actallly make me happy to see McCain in office in January....Sad!

    April 30, 2008 02:45 pm at 2:45 pm |
  6. Tim

    Sure propose a short term fix just to get votes without knowing the long range impact of such actions shows just how out of touch the Clinton camaign is with the ecomony. She was right about one thing jobs, jobs, jobs. But what she didn't tell us is that we will lose jobs, jobs, jobs.

    Obama 08

    April 30, 2008 02:45 pm at 2:45 pm |
  7. 58 old white wemen for OBAMA

    GREAT WISDOM?

    WE GOT THAT FROM BUSH.

    WE DID NOT ASK NOR WANT HIS OPINION.

    April 30, 2008 02:45 pm at 2:45 pm |
  8. After further review,Texas

    There is one way to get lower oil prices.Take over the oil companies.

    April 30, 2008 02:46 pm at 2:46 pm |
  9. God

    You mean the great God Obama won't be able to fix it?

    But only HE can do everything for all people, at all times...

    Well with constantly changing, morphing, evolving rhetoric at least.

    Dump the Obama.

    April 30, 2008 02:46 pm at 2:46 pm |
  10. Mary

    Economists said that since refineries cannot increase their supply of gasoline in the space of a few summer months, lower prices will just boost demand and the benefits will flow to oil companies, not consumers.
    "You are just going to push up the price of gas by almost the size of the tax cut," said Eric Toder, a senior fellow at the Urban-Brookings Tax Policy Center in Washington.”
    I love this line from Obama "This (Hillary & McCain’s bad idea) isn't an idea designed to get America through the summer, it's an idea designed to get them through an election."

    April 30, 2008 02:46 pm at 2:46 pm |
  11. Mike

    I've heard so much about Wright but I'm still waiting to hear about voter suppression Robo calls in NC being placed by Clinton Supporting Non profit.... Ahhhh voter suppression Karl Rove would be proud. Or Peter Paul ... After all these will be issues the GOP will use.

    April 30, 2008 02:47 pm at 2:47 pm |
  12. Tammy - KCMO

    " that would give consumers a price break at the pump this summer. "

    As Obama says – a temporary fix which will solve nothing. People need to buy smaller cars, car pool and learn to conserve our resources. Less demand and the prices should hopefully go down.

    Why is that so hard for people to figure out???

    Quit make promises that won't solve anything and start looking for an answer that will lead us to the solution. This is why I'm voting for Obama.

    April 30, 2008 02:47 pm at 2:47 pm |
  13. josephcast

    Um, no this is not innovative.

    Bob Dole ran against Bill Clinton with this stupid gas tax holiday idea. This policy is more stale than a popcorn fart.

    Mere pandering on Clinton's part. Google "gas tax holiday economists", every single one agrees this is a horrible idea that is only going to increase gas prices in the long run, and rid our infastructure of needed funds.

    Sharon in Minnesota you should know better. I'm a Minnesotan too, and I seem to remember a bridge falling into the river due in part to a lack of funding. Our infrastructure can't afford this loss.

    April 30, 2008 02:47 pm at 2:47 pm |
  14. Ilona Proud Canadian

    Hillary has requested 2.3Billion in earmarks for the year 2009. ( no this is not a typo) Do you folks know what she plans to do with this huge amount of money? She has most of it earmarked for her home state of New York, not Pennsylvania, not Indiana, not North Carolina, not any of the other states that she pretends to care so much about. (just to get your votes) You can check this out for yourselves on huff post. Seeing that earmarks have been a political touchy subject, I would have thought that cnn would report on this.

    April 30, 2008 02:47 pm at 2:47 pm |
  15. James

    No doubt something needs to be done. I really don't think McCain cares or will do anything about it.

    HILLARY IS THE ONE.....GO HILLARY GO!!!!

    April 30, 2008 02:47 pm at 2:47 pm |
  16. I saw it

    Di you hear?

    Obama walked on water.... but then Rev Wright came along and outshone him by rising on the 3rd day.

    April 30, 2008 02:47 pm at 2:47 pm |
  17. Debbie

    BIll and Hillary are has been. They're liars too.

    April 30, 2008 02:47 pm at 2:47 pm |
  18. Joseph, NY, NY

    As Obama said when he first got into politics and helping the community Wright told him to start going to church since he didn't attend one or wasn't religious, in other words political positioning because you can’t have a US politician who is not church going. Too bad he picked the wrong church. I don’t believe Wright is not the same man he meet 20 years ago I believe Wright is and always will be the same man and Obama is once again positioning himself politically. Do or say anything to get elected. Same old same old he claims not to be, a hypocrite and a liar is what he is.

    April 30, 2008 02:48 pm at 2:48 pm |
  19. David Goldman for OBAMA

    WE CAN THANK HIS HILLIE & HER VOTE FOR

    THE IRAQ WAR FOR THAT BIT OF GOOD NEWS.

    TAKE WARHILLIE WITH YOU & GO SOMEWHERE,

    ANY WHERE, JUST NOT HERE.

    April 30, 2008 02:48 pm at 2:48 pm |
  20. Neutral

    China and India is now getting heavy industrialized, they are buying oil to support their economy; that's the reason price of oil now is up to $100/barrel. We have to take advantage of lands we have and plant soybeans, corn, peanuts and turn them into biofuel, that will cut our consumption of oil at least 50% if not more. Carmakers also must start building engines that can use 50 miles per gallon AT LEAST. The technology to do it is there.

    April 30, 2008 02:48 pm at 2:48 pm |
  21. Eugene

    I agree with former President Clinton.

    April 30, 2008 02:48 pm at 2:48 pm |
  22. open your eyes

    from aware April 29th, 2008 6:25 pm ET

    Hillary Clinton 2008 and 2012 – Solutions not cheap talk!

    Obama is neither authentic nor credible. Wright is right. Obama just says what he has to say as a politician.

    Obama obviously knew all about Jeremiah Wright and his ideology for 20 years. Also, from Barack's comments in San Francisco and Michelle's comments they both agreed with their pastor to a large degree. Then, there is the fact that they have continued there with their two young daughters.

    Interestingly, Obama was most angry about Wright's comments about him. Sounds like an arrogant, narcissistic chip off the old block!

    April 30, 2008 02:48 pm at 2:48 pm |
  23. FIRST PERSON TO TELL THE TRUTH

    MAN I AM SURE BUSH LOVES THIS AND CLINTON IS JUST BEING HONEST. THAT IS WHY CLINTON IS THE GO GREEN PRESIDENT.

    I WISHED EVERYONE WOULD GO RESEARCH ALL CANDIDATES AND HOW THEY WORKED THERE WAY UP. GO ONLINE YOU MIGHT LEARN SOME REAL FACTS....JUST A THOUGHT

    April 30, 2008 02:48 pm at 2:48 pm |
  24. Clinton and Obama supporters

    So I will save only $35 dollar for a whole summer that is about a $1.70 a week off of 85-90 dollars. This is straight politics. Think about it the tax that they want to give us pays for the roads and over 300,000 road workers. Gas will rise due to demand and we will be back in the 70's. Also, you will need the entire house of Congress and the Senate to all agree in 2 weeks. Then you have to make sure that Bush doesn't VEOT it. What an idiot you are if you really believe it.

    Wake up and stop listening to politicians. People will say anything to get the presidency.

    April 30, 2008 02:49 pm at 2:49 pm |
  25. Jeff, IN

    A top economic advisor said that the Clinton and McCain plan is ludacris.
    He stated that Senator Obama's plan made sense. Americans must know that these two will be George W. Bush all over again. Vote for CHANGE.

    Obama 08.

    April 30, 2008 02:49 pm at 2:49 pm |
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