“U.S. Treasury Secretary Timothy F. Geithner said there’s no easy way to reduce gasoline prices because the cost of oil is influenced by a “dangerous and uncertain world.”
Geithner, in a speech last night to the Economic Club of New York, also said he is encouraged by prospects for the U.S. economy even if “unemployment is very high, and is improving more gradually than any of us would like.”
“We still face a dangerous and uncertain world, as the rise in oil prices demonstrates,” Geithner said.
“Americans are feeling the effects of higher gas prices. There is no quick and easy fix to this problem, but it reinforces the need for more progress to develop additional sources of energy of all forms.”
Geithner is joining the administration’s response to Republican critics who blame President Barack Obama for high energy costs. Obama has been focusing on energy in public appearances and speeches as rising gasoline prices threaten to impede the recovery….”
If you enjoy the content at iBankCoin, please follow us on Twitter
