Obama talks oil addiction in first post-election TV interview
President-Elect Barack Obama thinks we have an oil addiction and he wants to do something about it. That something is developing a plan for energy independence. While that might have seemed easier to discuss when oil was at $147 a barrel, Obama thinks it's even more important to talk about now, with oil hovering around $60. "It may be a little harder politically, but it's more important," Obama told 60 Minutes in his first post-election interview. Obama explained that our addiction to oil causes a mental transition from "shock to trance." As oil and gas prices go up, it creates "a flurry of activity." When the prices go back down, however, people seemingly forget, and "we act like it's not important. And, as a consequence, we never make any progress." He considers it an addiction and knows it needs to be broken. Our next top executive thinks now is the time to break it.
Along with energy independence, Obama also addressed the auto industry bailout, and GM's situation in particular. Acknowledging that a complete collapse would be "a disaster in this kind of environment," but he's not in favor of handing the industry a blank check. He feels that discussions with the Detroit Three should be focused on figuring out what a sustainable U.S. auto industry will look like so that the bridge loans the government is offering lead to a definable goal rather than being open-ended. Unlike some critics, Obama doesn't think the country would be better off if General Motors was allowed to go into bankruptcy. Unlike the situation with the airlines where they could restructure and reorganize and still operate during that process, GM could be cut off completely if it isn't helped out, potentially preventing it from continuing on.
You can read the transcript of the complete interview and watch the video here.
[Source: CBS News]
Reader Comments (Page 1 of 3)
aaron 7:08PM (11/17/2008)
Well, if I voted (I should have but the early polls had Obama in a landslide), I would not have voted for him. But he is right for sure on oil addiction.
P.S. If Colin Powell ran for President, I would've voted
P.S.S If you are p***** of about what I said, go away and go back to living in your little world.
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Steven 7:11PM (11/17/2008)
You're old enough to vote?!
Yar 7:11PM (11/17/2008)
Wait, you didn't vote because your candidate (Not Obama, so I'm assuming McCain) wasn't in the lead?
Thanks for being worthless.
Say What? 7:37PM (11/17/2008)
Aaron:
If you don't vote ... don't complain.
k.w.a 8:03PM (11/17/2008)
What does Colin Powell have to do with anything??
Was that your attempt to not sound racist for not voting Obama? Roflmaoooo
..relax dude, u supported Obama by not showing up for McCain.
aaron 9:45PM (11/17/2008)
Wow. Thanks for making feel like s***. I guess I didn't sound regretful enough about not voting OR you guy are tools.
How was I complaining? Nowhere was I complaining. I said Obama was ahead of the polls early. I came up with a lame excuse a more than a month ago so I still should've voted. And then there's the biggest f*** of all, k.w.a.:
"What does Colin Powell have to do with anything??
Was that your attempt to not sound racist for not voting Obama? Roflmaoooo
..relax dude, u supported Obama by not showing up for McCain."
Powell is a great man and saw Republicans going all neocon a mile away. He is a moderate Republican and I agree with most of his beliefs about what should be done with this country and what really went wrong. How dare you call me a racist, k.w.a. Regardless if you're black or white, I'll would enjoy kicking your a$$ to the moon.
Thank You,
Aaron W.
By the way, I didn't vote for McCain because Palin didn't impress me at all and McCain would've had to turn his back on being a maverick (yeah, I said it) like back in the late 90's and start going neocon....and it's my right to complain and rarely do I complain because I am fortunate that I get to go school and be paid for it (G.I. Bill).
k.w.a 10:29PM (11/17/2008)
did i call anybody a racist? lol. my point was that not voting Obama DOESN'T make you racist; so you don't have to pull some other black politician out ur a** to compensate.
And Colin Powell supports Obama.
Justin 7:11PM (11/17/2008)
He's right. And far more realistic than Neil Young.
And aaron...since you didnt vote, if you ever bitch, just preemptively stfu.
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V3LOCIP3D3 7:12PM (11/17/2008)
It has nothing to do with an oil addiction. Exxon Mobil is the biggest, richest company in the world, and they have *powwwerrrr.*
They will continue, and have the resources, to do whatever they can to prevent the public from switching over to alternative and renewable forms of energy.
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letstakeawalk 7:46PM (11/17/2008)
... Which is why they have worked since the 1970's to continually improve battery technology - a key part of hybrid-electric cars.
http://www.exxonmobilchemical.com/Public_PA/WorldwideEnglish/Newsroom/Newsreleases/chem_nr_101308.asp
V3LOCIP3D3 10:10PM (11/17/2008)
haha, that's pathetic, if you had the very basic understanding of politics or business affairs, you would understand how bogus that research is. I'm not that naive. You honestly believe exxon's commercials that they are trying to improve alternative energies? That they're trying to put themselves out of business?
on february 7, 2006 ExxonMobil, quoted in Reuters that "the U.S. should stop trying to become energy independent. Hoping to end foreign oil imports is not only a bad idea, but also impossible." You're buying into their hype. They only want to invent better hybrid batteries so that cars can continue to run on gasoline, when it's the same thing as a guy who smokes one cig a day to a guy who smokes a pack a day . . you're both heading in the same direction. If they invent the technologies first, they can put a patent on them so that no one else can produce their inventions. They're a very intelligent business, of course they're going to play it smart.
letstakeawalk 12:33AM (11/18/2008)
Exxon Mobile won't shut down if nobody needs gas; they'll likely make great profits selling industry the plastics, resins, and batteries our automobiles will be made of.
V3LOCIP3D3 1:14AM (11/18/2008)
Their revenues would drop tremendously (they have posted the largest profits in the last 5 years than any other company in the world). A CEO has to keep posting record profits for its shareholders. The only way they can do that is to keep countries addicted to their oil. It would be like if Microsoft stopped selling operating systems and just stuck with peripherals. Their revenues would fall through the floor.
They would then go out of business because of how much money they spend every quarter on explorations projects and refining operations. Those investments would turn into an expense, they would start laying people off . . they would start reporting losses and shareholders would sell . . . any owner of a company can't let that happen.
FFS 3:19PM (11/18/2008)
smarter comments than what i read usually here...now id just have to add that Exxon Mobile, Shell etc are AMERICAN companies...and i hope nobody blames Chavez, Middle East people for expensive gas....Exxon Mobile has never lost profits in a year and are far from it, 40 billion (reported) in 2007
Samurai Jack 5:51PM (11/18/2008)
FFS: Check that list again. I don't think Royal Dutch Shell is an American company.
As for whether or not specific comments on a blog are "smarter" or not is best left as an exercise for the reader...
jsjs 3:25AM (11/19/2008)
Big oil likes to talk about their investments in alternative energy (becoming "green", environmentally friendly, etc.) in advertisments/commercials but much of it is just PR hot air.
Big oil has "contributed" hundreds of million to Congress to make sure that their fossil-fuel business is safe.
Hugh G 7:13PM (11/17/2008)
If somebody could invent a car that would run on the hot air produced by many of you commenters, they would become very rich.
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JZeke 10:34AM (11/18/2008)
Lol +1.
Torrent 7:14PM (11/17/2008)
wow- he has a real idea of what's going on; Not just as a president, but as a regular person living in America.
I think Obama as president was the right choice.
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Punster 7:36PM (11/17/2008)
More like the left choice. *rimshot*