Open

Coming up

Don't miss

Replay


LATEST SHOWS

ENCORE!

Haute Couture: the hand-stitched clothing made in Paris that sells for the price of small yachts

Read more

IN THE PAPERS

'Caution, another Cast Lead lies ahead'

Read more

BUSINESS DAILY

Rising into the ranks of Haute Couture

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

MEDIAWATCH

A thin line between fact-checking and propaganda in Gaza social media coverage

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FOCUS

Ireland's missing babies cast light on dark history

Read more

WEB NEWS

World Cup 2014: Germany-Brazil inspires the Web

Read more

  • Are French high school students getting smarter?

    Read more

  • French ‘Civic Service’ eyes massive expansion amid huge demand

    Read more

  • Disgraced Suarez leaves Liverpool for Barcelona

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • In Pictures: Petrol station hit by Hamas rockets

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • Video: Living in Tel Aviv, under threat of rocket attack

    Read more

  • Video: Palestinians fear full Israeli military offensive in Gaza

    Read more

  • US prepared to negotiate Gaza ceasefire, Obama says

    Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Video: Muslims in China confront obstacles to Ramadan fasting

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

Americas

Obama unveils plan to boost domestic oil production

©

Text by News Wires

Latest update : 2011-05-14

President Barack Obama on Saturday unveiled plans to increase domestic oil production in Alaska and the Gulf of Mexico, the move follows pressure from the Republicans to bring own gasoline prices.

REUTERS - U.S. President Barack Obama, under pressure from Republicans and the public to bring down gasoline prices, announced new measures on Saturday to expand domestic oil production in Alaska and the Gulf of Mexico.

High fuel prices have dented Obama’s poll ratings and threaten to dampen the economic recovery that is critical to his re-election in 2012.

The president, a Democrat, has pushed for reducing U.S. oil consumption and expanding renewable energy sources while also focusing on domestic oil and gas production—an area Republicans want to expand dramatically.

In his weekly radio and Internet address, the president met some of those Republican demands, outlining ways to boost drilling and better coordinate the process of issuing permits in Alaska.

“I am directing the Department of Interior to conduct annual lease sales in Alaska’s National Petroleum Reserve, while respecting sensitive areas, and to speed up the evaluation of oil and gas resources in the mid and south Atlantic,” he said in the address. The lease sales would begin later this year.

“We plan to lease new areas in the Gulf of Mexico as well, and work to create new incentives for industry to develop their unused leases both on and offshore.”

Government lease sales give energy companies the opportunity to rent offshore or onshore federal tracts, which can be drilled for oil or natural gas. Companies with the highest bids generally lease the tracts for 10 years.

Date created : 2011-05-14

  • FRANCE

    Protests force France to backtrack on gas extraction

    Read more

Comments

COMMENT(S)