Obama to announce steps to speed oil drilling
May 14th, 2011
07:16 AM ET

Obama to announce steps to speed oil drilling

With gas topping $4 a gallon, President Barack Obama on Saturday will announce new plans to speed up domestic drilling for oil.

In his weekly address to the nation, the president will outline his plans for what he calls "safe and responsible" oil production.

The Obama administration will speed up the leasing process for the Alaska National Petroleum Reserve, give oil companies better financial incentives to use their leases and extend all drilling leases in the Gulf of Mexico so oil companies have more time to implement safety measures after the devastating BP oil spill.

He will also fast-forward the testing of areas off the east coast of the United States to see what oil resources are there and if it would be safe and commercially viable to drill.

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Filed under: Barack Obama • Energy • Politics
soundoff (33 Responses)
  1. Philip

    I disagree Writeman...we have enough known NG reserves to fuel the entire planet for thousands of years. NG burns clean, and we've had the technology to convert since the mid 70s. There is only one reason we don't run everything off of NG, greedy men with ties to big-oil run the show.

    May 15, 2011 at 7:29 pm | Report abuse |
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