White House wants cheap oil White House wants cheap oil But if prices fell, it would mean Americans are losing jobs and the economy is dragging. May 12, 2005: 8:29 AM EDT NEW YORK (CNN/Money) - So the White House wants oil at $25 a barrel. Yeah, and I want to be 10 pounds lighter, a foot taller and blonde. In fairness to Allan Hubbard, the relatively new director of the White House Economic Council, he did admit it's going to take "a while" for the world markets to expand oil production to boost supply enough to lower prices. And an administration mouthpiece said $25 is just a theoretical goal. Yes, inventories are growing. And, yes, many traders figure oil could easily head back toward $40 a barrel -- or even lower. But painful and aggravating as it may be to pay well more than $2 a gallon at the pump, it would be much worse to pay a dollar or so a gallon as you drive to the unemployment office. And if oil were to fall to $25 right now, chances are it would be because Americans were losing jobs and the economy was running out of gas. ----------- -- Kathleen Hays is economics correspondent for CNN and contributes to Lou Dobbs Tonight. You can read more of her columns here.   Quelle "White House wants cheap oil" : Cnn.com Main page for "White House wants cheap oil"