Obama says the US will seek to expand domestic oil production in an attempt to reduce reliance on imported oil and bring down fuel prices. New charters for examination will be granted in non-protected areas of Alaska and in the Gulf of Mexico. These were the thoughts of president Obama in his weekly address. President believes the US could reduce its need for imported oil and improve safety.
President told the Americans that he understood their concerns about rising prices, chiefly on the price of fuel, which has spiked in recent months. US consumers have historically enjoyed cheap fuel, but have seen prices reach $4 per gallon in recent months.
US oil production in 2010 reached its highest level for seven years But president believes that they should continue to expand oil production in America . New let out would be sold each year in Alaska’s National Petroleum Reserve, and oil and gas fields in the Atlantic Ocean would be evaluated as a high priority.
Even though the BP oil spill in the Gulf of Mexico in 2010, president said the Gulf remained a core part of the country’s future energy supply and new inducements would be offered for on and offshore development.
A ban on tooling in eastern areas of the Gulf was imposed during the Deepwater Horizon spill, and has since been extended until 2017. Obama’s proposals come after Republicans in Congress introduced a series of bills that would expand and speed up offshore oil and gas drilling.