President Obama's Weekly Address 2/25/12: An All-Of-The-Above Approach to American Energy

WASHINGTON, DC—In this week’s address, President Obama spoke to the American people about the importance of taking an all-of-the-above approach to addressing our nation’s energy challenges. With only 2% of the world’s oil reserves, we cannot simply drill our way to lower gas prices, as some in Washington have suggested. Americans understand that we must have a long-term strategy that uses every available source of energy—including oil, gas, wind, solar, nuclear, biofuels, and more. We also cannot fail to recognize the important role that increasing the efficiency of our cars and trucks can play in both reducing our dependence on oil and saving consumers money at the pump. Finally, at a time when oil companies are making record profits and American families are paying record prices, we must end, once and for all, the $4 billion a year in tax breaks oil companies receive. There are no quick fixes to this problem, but together we can make a serious effort to overcome our energy challenges and help create American jobs.