KMBC's Exclusive Interview With President Obama (gas prices 'to remain stable over the short term')

KMBC's Exclusive Interview With President Obama (gas prices 'to remain stable over the short term'): "KMBC's Exclusive Interview With President Obama
UPDATED: 5:02 pm CDT July 20, 2011

Watch The Entire Interview On KMBC.com

**SNIP**

Q: Lara Moritz: “One thing that also is something that is frustrating Kansans and Missourians is that almost overnight, gas prices jumped $.20 this week. They averaged $3.68. What do we do about that?”

A: President Obama: “This has been a big headwind that we’ve experienced in the economy. Because gas prices not only take money directly out of people’s pockets. But psychologically every time you pass a filling station you say boy, things are getting tough out there. And that leads to a lot of consumers cut back on their spending overall. We saw it spike high mainly because of what was happening in the Middles East, but also because global demand is increasing. It’s because of that that I helped to mobilize the international community to release some of the petroleum reserves that were out there, and that has contributed to a lessening of prices. But we’re going to see spikes periodically. But what we’re going to do is try to remain stable over the short term. Over the long term though, we’re going to have to shift our energy policy.

(Excerpt) Read more at kmbc.com ..."