A Quote by George W. Bush

We passed law that encouraged consumption through different purchasing habits like, you know, hybrid vehicles. You buy hybrid, you get a tax credit. We've encouraged the spread of ethanol as an alternative to crude oil. We have asked for Congress to pass regulatory relief so we can build more refineries to increase the supply of gasoline, hopefully taking the pressure off of price. And so the strategy is to recognize that dependency upon crude oil, in a global market, affects us economically here at home. And, therefore, we need to diversify away as quickly as possible.

George W. Bush

Quote Topics

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Quote Author

George W. Bush
American - President
Born: July 6, 1946

The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.

Gary Miller

As we all know, no crude oil refineries have been built in the United States since 1976. During that time, close to 100 ethanol refineries have been built.

John Shimkus

A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations

Gary Miller

Everybody has a gas-guzzling car because people like SUVs. They would like SUVs if they were hybrid vehicles that had the same horsepower and used less gasoline. Instead, what the auto manufacturers are doing is building SUVs that are hybrid vehicles that use the same amount of gasoline because they up the horsepower. That's a decision that they make to market irresponsible economic behavior. The American people like the SUVs, they have kids, they, they need them, they get around in them, but we have options.

William J. Clinton

About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.

John S. Watson

Brazil does not want to become an exporter of crude oil. No. We want to be a country that exports oil byproducts - more gasoline, high-quality oil - and to strengthen the petrochemical industry.

Luiz Inacio Lula da Silva

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

Ron Wyden

Public-policy-wise, if you want to be consistent, crude oil is a bulk commodity, and you should be able to export it. I would rather the crude go to U.S. refineries to get refined and then export the refined product because we get double, triple the money.

John Shimkus

My fear is that the global consumption of oil is going to increase, but European oil consumption has already reached its peak. The amount of oil available globally, I think, has already peaked.

Gunther Oettinger

Tar sands oil is the dirtiest fuel on Earth. Because producing it consumes so much energy, a gallon of tar sands crude generates 17 percent more carbon pollution than conventional crude oil.

Frances Beinecke

This is an important generation for the future of hybrid vehicles. With these models as well as the Ford Escape and the Honda Accord we're starting to see hybrid versions of mainstream vehicles. The auto makers are giving customers a direct choice: to opt for hybrid technology on a given model, or not. Will they pay the premium for the hybrid technology when everything else about the vehicle is the same?

Daniel Benjamin

Asia is rising economically - and is thirsty for oil. The price pressures on oil and oil price shocks, due to Asia's economic rise, mean that all steps made now to reduce oil dependence will protect us from pain and volatility later.

Van Jones

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

James Buchan

Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel.