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With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production


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Fox News:

WASHINGTON -- Seeking to address mounting criticism over high gas prices, 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.

Obama said Saturday that the measures "make good sense" and will help reduce U.S. consumption of imported oil in the long term. But he acknowledged anew that they won't help to immediately bring down gasoline prices topping $4 a gallon in many parts of the country.

His announcement followed passage in the Republican-controlled House of three bills -- including two this week -- that would expand and speed up offshore oil and gas drilling. Republicans say the bills are aimed at easing gasoline costs, but they also acknowledge that won't be immediate.

The White House had announced its opposition to all three bills, which are unlikely to pass the Democratic-controlled Senate, saying the measures would undercut safety reviews and open environmentally sensitive areas to new drilling.

But Obama is adopting some of the bills' provisions.

U.S. lawmakers in Alaska immediately voiced support for Obama's drilling plan.

"I've been strongly critical of this administration's policies on domestic production, but today I want to give credit to the president," Sen. Lisa Murkowski, the top Republican on the Senate Energy and Natural Resources Committee, told the Hill. "Permitting is the single greatest obstacle to domestic production and the president's establishment of a new team to coordinate work on Alaska drilling permits is a positive development, as is the extension of leases in the Gulf of Mexico and Chukchi Sea."

"I consider the president's address today a positive step forward and a commitment that he is ready to put words into action," Democratic Sen. Mark Begich said in a statement. "These steps will hopefully lead to expanded development in Alaska and long-term reduction in our dependence on foreign oil from unfriendly countries. However, Congress still must pass comprehensive energy and tax reform bills to bring some relief to families facing high gas prices today and in the future."

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.

New safety requirements put in place since the BP spill also have delayed drilling in Alaska, so Obama said he would extend lease terms there for a year as well. An oil lease typically runs 10 years.
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Obama suddenly rediscovers our natural resources.
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