Gas Prices Rising: What Can White House Do?

Jake Tapper discusses what rising oil prices mean for President Obama.
2:15 | 02/21/12

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Transcript for Gas Prices Rising: What Can White House Do?
Political fallout now from ABC's Jake Tapper in Washington NJ casino White House is having an event that they were they're touting that payroll tax cut. That just got agreed to last week. But if gas prices keep on climbing that could wipe out all the benefits what if anything can the White -- do about these rising gas prices. Short term George is very little a president can't do other than. Releasing gas from the strategic petroleum reserve you write -- call last summer President Obama did that released thirty million gallons during the Libya -- military conflict in which supply. Was interrupted. But longer term there's more than a president can do and that's why President Obama is under pressure from Republicans. -- allow more drilling here in the US domestic drilling. Is -- right now but the White House is very worried because high gas prices feed into consumer lack of confidence -- that could undercut. All the good he's done in his own poll numbers with -- improving employment. Was -- who probably -- speaker Boehner last week sending out all his troops to be talking about. These high gas prices over this February break this is on anything they can exploit. Absolutely Republicans are trying to tie. The ability of President Obama to release -- fuel from the strategic petroleum reserves to force him. To allow that Keystone Pipeline that he rejected a few weeks -- you -- remember. Newt Gingrich is out -- saying under his plans he can bring gas prices down to two dollars a gallon Rick Santorum. Warning of those five dollar a gallon prices that might be headed here this summer it is a big issue for Republicans and they are running with that OK quick. Question on the Republican race reverend Jon Karl our colleague got some news over the we -- for Republican senator saying. That -- Mitt Romney loses -- Michigan next Tuesday he's going to be calling for other candidates to get. Into the race but most Republican voters according to new Gallup poll out this morning don't want that this is still pretty -- we'll talk isn't. I think this is -- Republicans believe in Roosevelt -- Republicans believe in other than Santa Claus that this is not a serious issue having a brokered convention. We're some save your candidate comes in the nominee is in the race right now it's just a question -- sorting out who that will be probably still Mitt Romney to OK Jake Tapper thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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