President Obama, a vocal supporter of solar and other renewable energy sources President Barack Obama says one answer to high petrol prices is to spend money developing renewable energy sources. Obama

raises the issue of rising fuel prices during almost every public appearance and says that he understands the strain higher fuel costs are putting on some family budgets. \"That\'s the key to helping families at the pump and reducing our dependence on foreign oil\" in the long term, he said yesterday in his weekly radio and internet address.
He announced on Thursday during an event in Reno, Nevada, that the Justice Department will begin looking for cases of fraud or manipulation in the oil markets, even though Attorney General Eric Holder suggested a variety of legal reasons may be behind the surging petrol prices.
As he has before, Obama said Friday there is no \"silver bullet\" that will slash gas prices immediately. But he said there are things government can do to help make a difference in the long term. They also include boosting US oil production, rooting out any illegal activity by traders and speculators and ending $4 billion in annual taxpayer subsidies to oil and gas companies.
\"Instead of subsidising yesterday\'s energy sources, we need to invest in tomorrow\'s,\" Obama said.
Nebraska Senator Mike Johanns focused on jobs and said lawmakers who are serious about creating them need to cut spending and the bureaucracy that he and others say burden small businesses and keep them from hiring more.
\"If everyone is serious about job creation, in addition to reducing the debt, let\'s reduce burdensome regulations that serve no purpose other than to insert more government into the lives of citizens,\" he said.

From Gulf News