BREAKING NEWS

Obama calls for deep cuts in US oil imports

By REUTERS

MARCH 30, 2011 17:51

WASHINGTON - US President Barack Obama set an ambitious goal on Wednesday to cut US oil imports by a third over 10 years, focusing on a source of anxiety for Americans as high gasoline prices threaten economic recovery.

Obama outlined his strategy in a speech after spending days explaining US-led military action in Libya, where fighting, accompanied by unrest elsewhere in the Arab world, has helped push US gasoline prices toward $4 a gallon.

"There are no quick fixes. And we will keep on being a victim to shifts in the oil market until we get serious about a long-term policy for secure, affordable energy," Obama said in remarks prepared for delivery.

The Democratic president says the country, which relies on imported oil for roughly half of its daily needs, must increase its energy independence to improve national security.

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