Obama: US will seek oil in Alaska and Gulf of MexicoNews // May 16, 2011
The US will seek to expand domestic oil production in an attempt to reduce dependence on imported oil and bring down fuel prices, President Obama says.
According to a report from BBC News Online, new leases for exploration will be granted in non-protected areas of Alaska and in the Gulf of Mexico.
In his weekly address the president insisted the US could reduce its need for imported oil and improve safety. He urged Congress to back proposals to end taxpayer subsidies to highly profitable oil companies.
Using his address to tell Americans that he understood their concerns about rising prices, President Obama focused particularly on the price of fuel, which has spiked in recent months.
US consumers have historically enjoyed cheap fuel, but have seen prices reach US$4 per gallon (£0.65 per litre) in recent months.