• Steven Chu Changes Mind About Wanting High Gas Prices

    Steven ChuHmm

    Energy Secretary Steven Chu on Tuesday disavowed his 2008 comments about increasing gas prices to European levels, remarks that Republicans have pounced on in recent weeks.

    "I no longer share that view," Chu said during a Senate Energy and Natural Resources Committee hearing, adding that he wants to lower gas prices.

    Wait, he not only doesn't want higher gas prices, but he actually wants to see themĀ decrease? This guy's got to learn to play it safer, politically speaking. Next thing you know he'll come out and formally condemn al-Qaeda, or declare that he finds cake delicious, or… actually, those two things are basically all that Americans can agree on right now.

    The real question is what could have made Chu think higher gas prices would be good in the first place…

    Chu… told The Wall Street Journal in late 2008, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," and said he supported gradually increasing gasoline taxes over 15 years to coax consumers into buying more efficient cars.

    Using tax incentives to help preserve our position in the delicate global ecosystem while lessening our dependence on physically and politically volatile energy sources?

    He should just resign now.

    Photo by Chip Somodevilla-Staff/Getty Images News/Getty Images

    Tags: Economy, Energy & Oil, Obama Administration, Steven Chu


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