May 14 - Under pressure from the public to bring down gasoline prices, President Barack Obama announced new measures on Saturday to expand domestic oil production in Alaska and the Gulf of Mexico. Jon Decker reports.
Under pressure from the American public to bring down sky-rocketing gasoline prices, U.S. President Barack Obama announced new measures on Saturday to expand domestic oil production in Alaska and the Gulf of Mexico. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA SAYING: "I am directing the Department of Interior to conduct annual lease sales in Alaska's National Petroleum Reserve, while respecting sensitive areas, and to speed up the evaluation of oil and gas resources in the mid and south Atlantic. We plan to lease new areas in the Gulf of Mexico as well, and work to create new incentives for industry to develop their unused leases both on and offshore." The White House is increasingly concerned about the effects of rising oil prices on U.S. consumers and on President Obama's political prospects. While acknowledging the importance of domestic drilling, it has repeatedly said domestic production is not a panacea to solve the country's energy woes. Jon Decker, Reuters.