White House wants more oil; investment not seen

WASHINGTON (Reuters) – The White House called for more U.S. and global oil output to fight rising energy costs, but a top intelligence official said on Wednesday that prices at $100 per barrel had yet to spur production.

“We would like to not only have exporting countries increase their output but we would also like here in the United States to be able to increase domestic (oil) production in environmentally friendly ways,” White House spokeswoman Dana Perino told reporters.

She insisted, however, there was no “silver bullet” or short-term solution to high energy costs.

Perino spoke as government forecasters warned U.S. drivers would pay much more for gasoline this spring and summer than they did last year because of more expensive crude oil.

Reuters