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. Cherry

    Bill don't have a clue about what is important to the American People. Today we had Hillary riding in a pick up truck and Bill on a flatbed. What they want do for a buck. Also Hillary paid the 70.00 for the ride Bill.

    My point is if Hillary and Bill wasn't so racist in this race it would be fine to vote for Hillary but she is lying and through her teeth. First she lived in Scranton PA, now she lives in Indianna. Tell me if anybody or somebody know where she lived? Bill and Hillary can't lower the gas taxes people because she ain't the Prez.

    Do anyone think Bush will let her run the White House and voice her opinon. No way the only thing he would say when she calls him at 3:am, is what do Hillary want , by gosh some people think they can run over people and do what they want and say. Not this time Hillary you and Bill had your chance and didn't use it so when you move you lose.

    Obama 08

    April 30, 2008 02:56 pm at 2:56 pm |
  2. wwf

    Think on this for just a moment. If we can kill people while sitting in a room hundreds of miles away, put men on the moon, along with all of the rest of our high tech, including machines that do the work of real people, why is it that we cannot have cars and trucks getting 40-50 mph.? Seems to me that neither the auto industry or the oil companys want us to. Think about it. More mpg means less gas used. Less gas used means less money for the oil companys. Don't even think that ethenol is the cure. That is the biggest joke yet! We have oil wells capped in the gulf, yet buy our oil overseas. Other countrys are drilling off of our shores. We have more than enough oil in North America to supply our needs. Oh, a vaction from the gas tax. Yeah, right. Where does the money come from in the mean time to keep our roads up? As much as I would like to see a vaction, common sense says it is crazy even to think it.

    April 30, 2008 02:56 pm at 2:56 pm |
  3. @americans

    Bill Clinton: High oil prices here to stay

    Hillary Clinton: Lower oil prices when I win the White House

    Typical of the Clinton's doublespeak – Bill say one thing and Hillary campaign with the opposite.

    I just dont trust what to believe with the Clinton's!

    This campaign is all about political posturing, ego trip and self-serving interest for a presidential family who made $100 millions after they left the White House!

    give me a fresh face who is a complete break from the past – Obama '08!

    April 30, 2008 02:56 pm at 2:56 pm |
  4. jason

    Read the article with the head of Shell. Far left leaning liberals are helping keep the cost high by stonewalling production and exploration in this country. If we just allowed drilling in california and Alaska prices would immediately start to drop because our demand would be slashed on the world market. Drilling is very safe the enviornmental worries that everyone has are ghost tactics at best. I am a democrat who says we need this along with alternative energy to get us off foreign oil and increase OUR economic stake in energy. Tankers cause the spills and enviornmental problems when they run aground or get caught in storms. This can be averted. Alaska and California have to be opened up.
    Jason
    Califfornia.

    April 30, 2008 02:57 pm at 2:57 pm |
  5. VMCal

    Why dont' they open drilling in alaska again? Isn't it true that we could have all of the oil we need if we did? That may solve some of the problems we are having with oil if that's true.

    April 30, 2008 02:57 pm at 2:57 pm |
  6. TEXAN

    For the record that was McCain's idea not Hillary's one ????? again the Clintons stealing ideas.... Not a Surprise.

    By the way that is not an idea that will work, wouldn't save enough money to families...Do not let the Clintons foolish you!

    April 30, 2008 02:57 pm at 2:57 pm |
  7. Sory

    Bill you and Hillary can't change you clothes without a squabble so how can you say Hillary will change the gas tax for the summer. What forum is she going against to make this happen.

    April 30, 2008 02:58 pm at 2:58 pm |
  8. CW4Barak

    Thanks for the optimism Billary....you have $109M to live off of for the rest of your life...all we have is HOPE....so don't kill it! Tell your wife to keep her $30 or so bandaid to the gas problem, while creating even bigger ones....she sure is not very fiscally savvy is she! But just like she did to poor people in Ohio and in Pennsylvania lying to them that she understands their struggle and that she didn't support NAFTA , when she did and benefitted financially. Here she goes again tricking poor people into thinking this gas tax is a GREAT idea....if McCain proposed it first, we know something is wrong!

    Obama '08

    April 30, 2008 02:58 pm at 2:58 pm |
  9. Edgar LLyobi

    I'm an Obama supporter but it is what it is! What Bill said is true but most people here are too dumb to see past their dinner time: let alone the future. They're just waiting for a rude awakening. None of the presinential candidates are gonna help you ease the pain on the pump because the population is growing rapidly while oil, like many other things, is a finite resource

    April 30, 2008 02:58 pm at 2:58 pm |
  10. fred

    Bill is right....it will never come back down.

    We need someone with brains and that person is Hillary!!!

    Go Hillary!!

    April 30, 2008 02:58 pm at 2:58 pm |
  11. indy dem

    Ethanol is another cheap trick to pick up voters in the midwest. It is not a viable option. Only one candidate has the courage and braintrust around him to really innovate and his name is Obama.

    April 30, 2008 02:58 pm at 2:58 pm |
  12. Peter in Canada

    Clinton is correct on price. He is wrong on solutions.
    Recent price estimates are for $150 per barrel in 2000 and $225 by 2012. This will happen regardless of America's wishes or plans.
    Short term relief involving gas taxes compensated by Windfall Profits taxes is a little like placing a new mortgage on the house in order to buy a cheeseburger. Better to use the income tax system, giveaways or writeoffs to accomplish the short term goals.
    Bill, like Hillary hasn't got a clue on Energy or more specifically they actually do have a clue and are doing what they are best at....running for office.

    April 30, 2008 02:59 pm at 2:59 pm |
  13. scott

    At least they talk issues and not personal issue judgement all the time and whats worst the TV channels keep giving him free airtime. to say He is like a uncle...........I never knew this man ........I only wrote a book with his sermon title. ..........OH the mentor is not a mentor...........he was just my pastor............the pastor is a liar........whats funny is 2 weeks ago all the bobots were also defending the rev now they all say hes crazy........didn't take them 20 yrs I guess.........he will never win

    April 30, 2008 02:59 pm at 2:59 pm |
  14. Deb, IN

    The problem can't be fixed overnight......at least she is coming up with something.....what's Obama proposed? Oh wait he's going to raise taxes.....yeah that will help. I need the extra money it will pay 3 months worth of water bills for me.

    Baron Hill of Indiana just committed political suicide backing Obama!!!!
    You lost my vote for re-election Baron.

    April 30, 2008 02:59 pm at 2:59 pm |
  15. Debby

    I am so sick of African Americans saying Bill Clinton has lost their respect or he played the race card, or they were going to vote for Hillary blah blah blah. Vote for whom you believe in and stop making excuses why.

    April 30, 2008 02:59 pm at 2:59 pm |
  16. Bayou Joe

    As a 4th Generation Hispanic from The Lone Star State, I never had any respect for former President Bill Clinton. He disgraced the Whitehouse with his sexual encounters on a personal level, but also he allowed Bin Laden to get away and in return we were attacked in our own land.

    This is the same concern I have about Barak Obama and his connections to Kenya and his cousin who is an avowed Muslim
    and currently waging war in that country.

    No Bama or Clinton

    April 30, 2008 02:59 pm at 2:59 pm |
  17. Alex

    He may be right...?!
    there is no end in sight as of yet.....tough times....
    I like Hillarys plan for a price break on fuel in the summer season....
    smart idea and could be a good move if done...who knows...?!
    Some people out there are showing our former President alot of disrespect and I think it is wrong and he did a wonderful job as our leader...i remember and things were good too in the 1990 s....so was the ecomomy too and employment and wall street too!!!
    funny how everyone wants to forget or erase that fact which is truth!!!
    Not very nice things said out there.....WE ARE AMERICANS.....WE ARE BETTER THAN THIS!!
    Thank You....

    April 30, 2008 03:00 pm at 3:00 pm |
  18. Right on Day1

    Uncle Sam April 30th, 2008 2:35 pm ET

    It turns out the gas tax holiday proposed by Sens. McCain and Clinton could actually save our country billions of dollars due to the effect that lowered transportation costs would have on our general economy.
    ___________________________

    Who ever suggested that to you is flat out lying. The holiday is only 3 months. Prices will not be adjusted, if anything companies will keep the extra savings to make up for lost profits.

    2ndly demand increases naturally during the summer. If people drive more due to a perceived price break, the price will be go up due to higher demand.

    Lastly, READ BETWEEN THE LINES YOU SHEEP! He just contradicted Hillary. He is saying prices are high due to increasing demand. Hillary is saying the prices are high due to market manipulation, so with regulation it will come down. I believe he is correct. So the price of oil will not come down Sharon Minnesota.

    The Clintons just want to get back in the white house.

    April 30, 2008 03:00 pm at 3:00 pm |
  19. Deana, CA

    Well said Herman. And your story is the same as many African Americans.

    Hillary had my vote, because I didn't know Barack. Now I realize, I really didn't know Hillary. After Iowa, New Hampshire and South Carolina, I know more about her than I'd care to know.

    Obama 08

    April 30, 2008 03:00 pm at 3:00 pm |
  20. Susan MO

    We hope something can be done because, if not, the high gas prices are going to badly hurt our country.

    And it is OK for him to campaign for his wife!!!!!!

    Hillary 08 🙂

    April 30, 2008 03:00 pm at 3:00 pm |
  21. Gina - Lancaster, PA

    There's no doubt we need to find some long-term solutions to our oil dependency.

    Perhaps a start would be to not accept large campaign donations from big oil special interest groups and lobbyists like Hillary has!

    But please... you can keep my $28 that this would save over the summer. Or how about this idea... whatever I SAVE from this "price break at the pump"... I will donate to Barack Obama's campaign!

    Who's in with me?

    April 30, 2008 03:01 pm at 3:01 pm |
  22. Daniel Stevens

    There are 2 problems I have with the gas tax holiday.

    1. It won't offer any real relief and doing either means getting the approval of congress. So it's an easy way to pander, much like the so called stimulus package. Folks if you were 3x your income over your head in debt would you offer to give away money?

    2. It doesn't address the part of the problem that would really make a difference. If we are going to drop a part of the gas tax we should drop it for commercial vehicles so that it would give a drop in overall cost to all American businesses (now theres a republican idea) and at least helps hold total costs for everyone down. This would be true over the summer months when all demand will go up and that will affect all consumer costs.

    April 30, 2008 03:01 pm at 3:01 pm |
  23. Mike - Texas

    Congress could always allow OUR oil companies to drill offshore (where foreign comanies are currently drilling) or they could allow us to drill in Colorado, or in ANWR. But no, Congress has decided that our citizens do not need access to these areas, even though they possess more oil reserses than Iran, Iraq, and Saudi Arabia combined.

    It is time to tell Congress to "get with the program" and stop hurting US citizens.

    I have stated this numerous times before, but CNN always sensors my statements on this issue.

    April 30, 2008 03:01 pm at 3:01 pm |
  24. EMILIO- TORONTO

    One of the biggest shareholders of Exxon oil, the ROCKEFELLERS, has made it known ,that Exxon needs to change the status quo on delivering energy, and start looking at other sources, like ethanol. This was just announced to day. BARACK OBAMA,has made that a central strategy of his energy platform, while CLINTON, AND MACAIN, simply want to introduce a band aid, short term solution to the problem, by supporting a summertime tax break at the pumps. Robbing Peter to pay Paul is not a solution, bridges and roads need to be maintained, has CLINTON AND MACAIN forgotten the bridge collapse tragedy in Minneapolis last year?

    April 30, 2008 03:01 pm at 3:01 pm |
  25. Come together

    Im just not buying into this whole gax tax holiday thing. The savings dont really seem to justify what we are giving up.

    As for our oil dependancy, its just something we as Americans are going to have to learn to live with and change our lives around (ie reducing our consumption). It will be hard for a while but eventually I think we will be better off. We are just now starting to feel the pinch that other countries have been experiancing for a much longer time.

    I think that too many people are not willing to give up any of their comforts to benefit the greater good. We want it all and we want it cheap....

    April 30, 2008 03:01 pm at 3:01 pm |
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