Obama Will Address Rising Price Of Gas In Speech Friday   The Washington Post  reports President Obama is "preparing to lay out new proposals to increase domestic energy production" that would "address the recent rise in gas prices, which pose a threat to the nation's economic health and represent a growing political liability for the administration. At an appearance Friday at the University of Miami, which offers an industrial energy-efficiency program for engineers, Obama will flesh out his State of the Union call for the nation to boost investment in clean energy as a way to strengthen the economy."

        The CBS Evening News reported that the White House's "big worry" is "that those rising gas prices could cripple the current recovery and also hurt President Obama's reelection hopes," but "the President's advisors admit there are no quick fixes and today they pushed back against the criticism that it's the President's fault."

        The Hill  also says the President "will move aggressively this week to deflect blame for rising gas prices" as Republicans accuse "the administration of exacerbating pain at the pump with policies that raise energy costs. ... He will highlight the fact that production is up and imports have fallen, and will note additional steps the nation can take to deal with higher gas prices."

        Reuters  notes White House press secretary Jay Carney said Tuesday, "There are no magic solutions to rising oil prices," and "the rising gas prices clearly the effect of a variety of factors on the global price of oil. ... The president is very aware of the impact that the global price of oil has on families."

        Chu's 2008 Support For Hiking Gas Prices Cited By Obama Critics Bob King, in Politico , notes that Energy Secretary Chu, in September 2008, said, "Somehow, we have to figure out how to boost the price of gasoline to the levels in Europe." Newt Gingrich, on CBS's "This Morning" Tuesday claimed the Administration's "'outrageously anti-American' energy policy is aimed at increasing the price at the pump," adding, "Chu, his Energy secretary, said in 2008 he wanted gasoline prices to get to the European level, which is $9 or $10 a gallon." King adds that "similar themes came last week from Investors Business Daily, which cited Chu's remarks as evidence that Obama is 'secretly cheering' for price spikes, and from Denver Post columnist Vincent Carroll, who accused Obama and Chu of pursuing a 'castor oil theory' of economic growth."

        Carney: Obama "Didn't Turn Down The Keystone Pipeline" Neil Munro reports in the Daily Caller , "The president didn't stop the Keystone XL oil pipeline -- Republicans did. That's the message on Tuesday from White House spokesman Jay Carney as gas prices rise above $4.00 per gallon. 'The president didn't turn down the Keystone pipeline,' Carney said, because the proposal to construct the pipeline was reviewed by the Department of State." Munro notes Carney added that the State Dept decision "was the result of a decision made, to honor, the concerns of those in Nebraska, including the Republican governor."

Obama Lauds Payroll Tax Deal, Urges Congress To Pass More Economic Measures   The President's remarks yesterday extolling the payroll tax cut extension, and urging Congress to follow it with other measures meant to boost the economy, received some print and wire coverage, but was not mentioned by any of the three networks last night. What coverage there was cast the payroll tax issue as a political win for Obama.

        The AP  reports, "Relishing a political victory," Obama "said Tuesday that Congress 'did the right thing' by extending payroll tax cuts," and "urged lawmakers to push forward on more measures, from assistance to struggling homeowners to increased taxes on the wealthy. ... 'Don't stop here. Keep going,' Obama said during a White House event marking the passage of the tax cuts." The AP notes that "Tuesday's event was not a bill-signing because the bill is not yet in Obama's hands," but, "not knowing when the legislation will come down from Capitol Hill, the White House decided to go ahead and hold its event now, while the victory is still fresh in people's minds."

        Fox News' Special Report said the President "tried to remain above the fray today, declaring he's focused on pushing Congress to pass more initiatives like the payroll tax cuts." Fox reported that the President "took a figurative victory lap...over the recently passed, but not yet signed, payroll tax cut extension."

        According to Bloomberg News , the President "said public pressure was vital in getting Congress to extend a temporary payroll tax cut...and urged voters to push lawmakers to act on his proposals to help struggling homeowners and raise taxes on millionaires."

        Treasury Set To Unveil Obama Corporate Tax Reform Plan In the wake of the payroll tax deal, the AP  reports that the Treasury "will propose lowering the current 35 percent corporate tax rate, while at the same time eliminating loopholes and subsidies and imposing a minimum tax on the overseas profits of American companies." According to the AP, "The administration plan is not likely to go as far as a House Republican proposal to lower the rate to 25 percent."

        Bloomberg News  notes that on February 15, Geithner said the plan will be "more than principles but less than fully articulated legislative language." According to Bloomberg, "The current US corporate tax rate is the second-highest marginal rate in the world," but "effective tax rates on US companies are below 30 percent, in line with the tax burden in other major economies." Bloomberg also report that the Administration's plan is "designed not to increase the federal budget deficit, in contrast with policies promoted by the Republican presidential candidates."

        Politico  also said that "it's unclear if the proposals will include specific numbers or rates."

        However, The Hill  says, "Key lawmakers in both parties...are doubtless more than ready to see the fully fleshed-out framework, which has been discussed and awaited for months," but "even with the release of the administration framework, most Washington observers are deeply skeptical that tax reform can be completed in this election year."