Obama: "We can't just drill our way out of the problem"


Photo credit: US Navy

Hey-o! Look who decided to wake up and make a little noise on the energy front. After getting pushed around by the pro-drilling crowd for the last couple years, Obama at least made the effort today to note that drilling for oil won't solve our energy woes. After all, domestic production peaked in the 70s, and the proven reserves we have yet to tap aren't big enough to increase energy independence. And Obama finally said as much in a speech today.From the Hill:

"We can't just drill our way out of the problem," Obama said during an energy policy speech in Indiana Friday. "If we're serious about addressing our energy problems, we're going to have to do more than drill." Obama's remarks come as Washington policymakers are feeling pressure to take action to address high gas prices, which are nearing a nationwide average of $4 a gallon.

Republicans have ramped up calls for expanded domestic oil-and-gas production. House Republicans passed the first of three offshore drilling bills Thursday that have been fast-tracked by GOP leadership.

He also made a nod toward eliminating oil subsidies, referring to oil companies in saying that "If you're already paying them at the pump, we don't need to pay them in the tax code."

Yet his administration has not yet threatened a veto on the bill that just passed the House of Reps that would expand offshore drilling while slackening the environmental review process -- so it doesn't seem like he hates drilling that much. After all, he famously pledged to dramatically expand offshore drilling right before the BP Gulf spill erupted. So there is indeed a chance we may yet see expanded drilling just one year after the worst offshore oil disaster in US history.

More on Offshore Drilling
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WTF: Obama Expands Offshore Drilling Far Beyond Bush
Arnold Terminates Offshore Drilling

Tags: Barack Obama | Oil | United States