Vice President Joe Biden spent over 10 minutes answering a question about gas prices again during a campaign stop in Norfolk, Virginia, and suggested that the unusually high prices were only temporary.
“Oil prices will come down, gas prices will come down, whether its in two months or a year, or whenever they do, sure as the devil, they’ll come down,” he said.
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Biden reminded the audience that the increased prices were due to oil speculators taking advantouge of global turmoil, citing the Arab spring conflict as an example. Biden reminded the crowd that instability in other energy producing countries like Russia or Canada would also cause high gas prices.
Biden said that if government gave tax breaks to oil companies, they should give subsidies to alternative energy programs.
“Oil companies don’t need encouragement to drill they have made more money than God in the last couple of years,” Biden said. “Seriously. It’s astronomical profit, I’m not criticizing the profit, but its astronomical.”
“The only way to protect us from this is to get energy independent.” Biden continued. “And there’s no way to get energy independent unless you do all of the above including solar, wind, geothermal, and the rest.”
