Business rails against Obama energy policy as gas prices keep soaring

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A group of top corporate executives is calling on President Obama to enact comprehensive energy policies so that industry might have an idea on how best to proceed in developing the nation’s energy sources.

The Business Roundtable, comprised of leading executives from the likes of Boeing and General Electric, says the uncertainty is killing America.


SEE ALSO: Gas prices top $4 per gallon, fuel sticker shock


“The nation’s energy policy has evolved through decades of ad hoc measures, resulting in an incoherent patchwork of subsidies, mandates and regulations,” the report states, according to The Washington Free Beacon. “The result is a policy labyrinth that, on balance, is more likely to inhibit than to unleash the private-sector investment needed to transform the energy sector.”

The report comes at a time when the nation is facing record-high costs at the fuel pump.

Fox News reports the national average for gas in February — at $3.77 — is 40 cents higher per gallon than a month ago. And in Southern California, the cost is even worse. There, the average per gallon is $4.31 — and that’s 60 cents higher than in January.

What’s going on? One industry expert on Fox attributed the recent gains to major refinery issues. One major refiner in California faced a fire; others on the East Coast faced a hurricane; still others in the Midwest were affected by recent snowstorms.

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