Indians are purchasing more cars: Obama
The Indians and Chinese are buying more cars, which would put a lot pressure on fossil fuel, said, US President Barack Obama while visiting Buffalo city in upstate New York, for the first time after Becoming the US President. Commenting on the condition of public transportation system in the city, Mr Obama said that mass transit system would be good for the environment.
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Because one of the things, obviously, that we have to recognize is, is that no matter what we do, oil prices are going to be going up over the long term. I mean, year to year, they may vary. Sometimes it's four bucks a gallon at the pump, sometimes it drops back down to two-and-a-half, He said.
You're not always clear what's going on, but the long-term trend is just because countries like China and India are starting to buy cars, and so the demand on petroleum and fossil fuels are going to be greater and greater, and we've got to get a first-class transit system, Mr Obama added.
Mr Obama had raised the 'Buffalo to Bangalore' rhetoric about a year ago, with announcing the of tax incentives to those US companies which create jobs overseas in places like Bangalore. Instead the incentives would now go to those creating jobs inside the US, in places like the Buffalo city, he said.
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