CNN) -- President Barack Obama and fellow leaders at the Group of Eight meeting he hosted Saturday put job creation and economic growth at the top of their to-do list.
"(They) must be our top priority. A stable growing European economy is in everybody's best interest, including the United States'," Obama told reporters after the two-day Camp David retreat in Maryland concluded.
G8 leaders -- from the United States, France, the United Kingdom, Germany, Japan, Italy, Canada and Russia -- issued a declaration detailing their commitment to ensuring adequate energy and dealing with climate change; providing food security and nutrition in Africa; promoting democratic transitions in the Middle East; and supporting political transition in Syria. They reiterated "grave concern" over Iran's nuclear program and the need to ensure an adequate oil supply.....snip~
G8 leaders tout economic growth, fiscal responsibility - CNN.com
Coping with shaky oil markets, the leaders set the stage for a united release of world oil reserves to balance any disruption in world markets when tough new sanctions are imposed on Iran's exports because of its disputed nuclear program. The leaders said they were ready to take "appropriate action" to meet any shortages.
The mere preparation to release oil reserves could help calm markets and ensure that oil prices, which have been dropping, don't climb again and anger consumers as U.S. elections approach.
G8 Summit 2012: Obama Emphasizes Growth Over Austerity To Tackle World Economic Woes
U were saying now?
Did you need the chalk board to explain to you how a President can affect gas prices, now?
You know the time is right to take control, we gotta take offense against the status quo
Originally Posted by A. de Tocqueville
Hell of a deal!!!
"NEW YORK (CNN/Money) � Gasoline prices in the United States, which have recently hit record highs, are actually much lower than in many countries. Drivers in some European cities, like Amsterdam and Oslo, are paying nearly 3 times more than those in the U.S.
The main factor in price disparities between countries is government policy, according to AirInc, a company that tracks the cost of living in various places around the world. Many European nations tax gasoline heavily, with taxes making up as much as 75 percent of the cost of a gallon of gasoline, said a spokesperson for AirInc.
In a few Latin America and Middle-East nations, such as Venezuela and Saudi Arabia, oil is produced by a government-owned company and local gasoline prices are kept low as a benefit to the nation's citizens, he said."
CNN/Money: Global gas prices
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