Transcript from Obama speech at Stivers on Jul 11, 2008:
If Iran decided to shut down the petroleum-rich Strait of Hormuz tomorrow, they believe oil would skyrocket to $300-a-barrel in minutes, a price that one speculator predicted would result in $12-a-gallon gas. $12 a gallon.
In the four years since, President Obama could have drilled his way into energy independence for America. Instead, here comes $12 a gallon gasoline regardless of whatever happens in the Strait of Hormuz!
What a dipstick!