October 16th, 2006
According to US President George W. Bush, falling gasoline prices are not good when they stunt the development of alternative energy fuels. I really do not know what to believe, because this is coming from a Texan Oil president. Still the sentiment is true.
The reduction in oil prices that has been experienced recently may make alternative energy developments less attractive and consumers more complacent, about the future in relation to energy. Looking at the long term is more important, as the president points out. With a high dependency on foreign oil, decreasing pump prices may lead most people to believe that the hurdle has been cleared. It has not. And so hard work shall ensue.
Read more about the President's speech here.