Obama announces steps to speed U.S. oil production

I think this is the right place
I just saw this while surfing around

President Obama is directing his administration to ramp up U.S. oil production by extending existing leases in the Gulf of Mexico and off Alaska's coast and holding more frequent lease sales in a federal petroleum reserve in Alaska.

Answering the call of Republicans and Democrats from Gulf Coast states, Obama said in his weekly radio and Internet address that he would extend all Gulf leases that were affected by a temporary moratorium on drilling imposed after last year's BP oil spill. That would give companies additional time to begin drilling. The administration had been granting extensions case by case, but senior administration officials said the Interior Department would institute a blanket one-year extension.

"The president is finally admitting what Republicans have known all along, that increasing the supply of American energy will help lower prices and create jobs," Hastings said.

Obama also called on Democrats and Republicans to vote to eliminate billions in taxpayer subsidies to oil and gas companies.

Obama announces steps to speed U.S. oil production

So are we going to see a America less dependent on foreign oil? i thought this would be against TPTB plan?

OK abit more information

President Obama will open Alaska's national petroleum reserve to new drilling, as part of a broad plan aimed at blunting criticism that he is not doing enough to address rising energy prices.

But...oil industry representatives voiced cautious optimism that the steps laid out could coax more domestic oil without surrendering environmental safeguards.

The oil company's are worried for our environment! ha thats news to me.

The United States consumes nearly 25% of the world's daily crude oil output but is home to only 2% of its proven reserves, leading analysts to conclude that increased domestic output will not drive down prices substantially.

The plan will not require congressional approval.

he seems to like not bothering congress

Obama to open Alaska petroleum reserve to new drilling

Instead, he should be pushing for an energy plan that will incorporate unparalleled research into a new source of energy so we can give oil companies a run for their money! Speeding up U.S. oil production is just adding more fuel to the fire. Speculation trading and OPEC will still be the driving factor behind the cost of oil. How long will it take until our law makers start focusing on a plan to implement a new energy source? I guess campaign contributions from oil companies, more wars for oil, higher prices at the fuel pump and more money for the oil elite is their main priority.

lol Just goes to show how much of a Political Stooge Obama really is. He didn't even wait 24 hours to back track on this one after getting the Congressional House Beat Down to his Keep USA without it's own oil program.

Well good, he is swinging to the Republican side again.

At this rate, he will be a Moderate Republican by 2012 elections.

I say it's a good thing the Republicans are around to give something for Obama to hang onto because he isn't going to get it from his own party..

Pardon me if I'm a bit skeptical. Obama shipped off 2 Billion tax payer dollars to ramp up production of Petrobras. Many have personal funds invested in Petrobras, to include Mr. Soros.

I believe BO's latest move to increase our domestic production was made to quiet his detractors and better position himself for the 2012 elections.

Nothing more, nothing less.

This may be a good thing NOW, but this is also just a re election ploy and if re elected the b.s. will start all over again. He has proven to be a disaster as a leader for this country, please don't give him credit for last minute, hail mary ploys.

Originally posted by DAVID64
This may be a good thing NOW, but this is also just a re election ploy and if re elected the b.s. will start all over again. He has proven to be a disaster as a leader for this country, please don't give him credit for last minute, hail mary ploys.

I'm with you. While it's a step in the right direction (excuse the pun) I'll wait for the follow-through before I start a parade.

Is this not to early for a re election ploy? im not a expert in political campaign.
Maybe this and with Brazil we won't have to invade foreign countrys for oil any more. It will just be to stop china taking control

reply to post by Bixxi3


agreed and it also give us time to think of something new to propose before slowly downgrading oil. Good job to obama but many would still not be happy with more jobs and cheaper oil prices.

The water in this Earth is #ed, Oil got spoiled not to long ago, water moves like Air...Imagen that????????

Great read here about the oil exploration in the desert lands.

Saudi Arabia digging into desert

First production does not equal more or cheaper gas.

There is only a certain amount of oil the can go through the US refineries.

US refineries make a very large number of products with oil.

Refineries don't have to make gas or diesel with the oil.

They can make any product.

Many of the products can be sold overseas for more then the oil companies can make from gas and diesel.

Speeding up us oil production will NOT cause cheaper gas or diesel.

The oil companies know this and know how to play the system.

And there is NOTHING the government can do about it.