Addressing high gasoline prices at a February 23 speech in Miami, President Obama made a case for continued investment in fuel economy and alternative fuel sources like algal biofuels and natural gas. The U.S. cannot drill its way out of high gas prices, he said, adding that anybody who says otherwise “doesn’t know what they’re talking about or just isn’t telling you the truth.” [Fox News]

“It’s the easiest thing in the world to make phony election-year promises about lower gas prices,” Obama said. “What’s harder is to make a serious, sustained commitment to tackle a problem that may not be solved in one year or one term or even one decade.” [Los Angeles Times]

“There is no silver bullet. There never has been,” he said.

Do you agree with the President’s comments? Is expanded domestic oil development a solution to high gas prices? What is the surest pathway to lower gas prices in the short-run? In the long-run?

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