Obama in New Hampshire to Talk Energy

As the Republicans try to deny Obama another term as president using the rising oil prices, Obama goes to his Republican rivals own backyard of New Hampshire. Obama is trying to deal with the criticism he has been receiving over the past few weeks for the rising prices. The president agrees that he is aware of the steep increase but also said that there is very little he could do that would provide immediate relief.

With the gasoline prices rising from $3.39 every gallon a year ago to $3.74 this year and the brewing political tension in the Middle East translates to more leverage for the Republicans. The President is looking to repeal the unwarranted $4 billion in annual subsidies that are handed out to oil and gas companies. This will urge the congress to take a vote quite immediately.

The Republicans are looking to give Obama a hard time using not only the rising gasoline prices but also his record on domestic energy exploration and TransCanada Corp’s Keystone XL crude oil pipeline. Obama said no to the Keystone pipeline project as it was set to run through some environmentally sensitive sites in Nebraska on the US-Canadian border. But the White House is now ready to look at another proposal by TransCanada to build a southern leg of the pipeline.

Mitch McConnell, a Senate Republican said “The Obama administration continues to impose burdensome regulations on the domestic energy sector that will further drive up the cost of gasoline for the consumer”.

Obama’s reaction to this is trying to get the Congress to repeal tax code provisions that will benefit the oil and gas industries. The Republicans simply said that this will be a part of inefficient tax code. The president’s visit to Nashau Community College will be his second in the last three months. In this swing state, Romney would prove to be a very tough competitor to Obama if he manages to win the nomination in November.

Though Obama carried New Hampshire in 2008, things look a little different this year. The polls to do put Romney within Obama’s range but given the recent situation and the degree of unemployment, nothing is guaranteed for Obama.

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