President @BarackObama repeats “all of the above” energy strategy:
“…We’ve quadrupled the number of operating oil rigs, and opened up millions of acres for drilling. But you and I both know that with only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices – not when consume 20 percent of the world’s oil. We need an all-of-the-above strategy that relies less on foreign oil and more on American-made energy – solar, wind, natural gas, biofuels, and more.
“That’s the strategy we’re pursuing. It’s why I went to a plant in North Carolina earlier this week, where they’re making trucks that run on natural gas, and hybrid trucks that go further on a single tank.
“And it’s why I’ve been focused on fuel efficient cars since the day I took office. Over the last few years, the annual number of miles driven by Americans has stayed roughly the same, but the total amount of gas we use has been going down. In other words, we’re getting more bang for our buck.
“If we accelerate that trend, we can help drivers save a significant amount of money. That’s why, after 30 years of inaction, we finally put in place new standards that will make sure our cars average nearly 55 miles per gallon by the middle of the next decade – nearly double what they get today. This wasn’t easy: we had to bring together auto companies, and unions, and folks who don’t ordinarily see eye to eye. But it was worth it…
“Because these cars aren’t some pie in the sky solution that’s years away. They’re being built right now – by American workers, in factories right here in the U.S.A. Every year, our cars and trucks will be able to go further and use less fuel, and pretty soon, you’ll be able to fill up every two weeks instead of every week – something that, over time, will save the typical family more than $8,000 at the pump. We’ll reduce our oil consumption by more than 12 billion barrels. That’s a future worth investing in.
So we have a choice. Right now, some folks in Washington would rather spend another $4 billion on subsidies to oil companies each year. Well you know what? We’ve been handing out these kinds of taxpayer giveaways for nearly a century. And outside of Congress, does anyone really think that’s still a good idea? I want this Congress to stop the giveaways to an oil industry that’s never been more profitable, and invest in a clean energy industry that’s never been more promising. We should be investing in the technology that’s building the cars and trucks and jets that will prevent us from dealing with these high gas prices year after year after year.”