President Obama Talks Domestic Energy Resources

President Obama Talks Domestic Energy Resources

POSTED: Wednesday, March 21, 2012 - 9:49pm

UPDATED: Wednesday, March 21, 2012 - 10:44pm

CARLSBAD, NM - President Barack Obama left the small town Maljamar earlier Wednesday night after telling an audience he's serious about lowering gas prices.

The President came to speak in the small town since Maljamar is home to 70 active oil rigs.

He arrived just after 6 p.m.after flying into Roswell.
The President told the public that since he has taken office, he has ordered his administration to open millions of acres of oil rich land in 23 different states.

The President said the U.S. is already using 75 percent of the nation's oil resources.
No matter how much oil the United States produces, the price of fuel stays the same, he said.

"So even if we produce more, the fact of the matter is we use 20 percent of the world's oil. And even if we drilled every square inch of this country, we'd still only have only 2 or 3 percent of the world's oil reserves. So what ends up happening, is the price is impacted, not just by use but by everybody and the amount oil that's used worldwide," he said.

President Obama also said the oil market is a world-wide market based on many factors the U.S. can't control.

"If we do nothing every time there is instability in the Middle East, we will feel it at the pump: even if we're pumping here non-stop in New Mexico and all across the country," said Obama.

President Obama noted the key to becoming more fuel efficient is to invest in fuel-efficient technologies, such as hybrid vehicles.

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