"Obama Calls For Deep Cuts In U.S. Oil Imports"

"President Barack Obama on Wednesday proposed to cut U.S. oil imports by a third over 10 years, a goal that eluded his predecessors and seen as extremely ambitious by analysts skeptical it can succeed.

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

In a speech that was short on details on how to curb U.S. energy demand, Obama did not pretend there were speedy measures to curb mounting fuel costs, which could threaten the country's economic recovery by weighing on American spending and confidence.

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

Alister Bull and Patricia Zengerle report for Reuters March 31, 2011.

SEE ALSO:

"Obama's Snoozefest of an Energy Speech" (Mother Jones)

"Obama Renews Pitch for Clean Energy To Reduce Oil Appetite" (McClatchy)

"Clean Energy Investment Is Up, but U.S. Lags" (Green/NYT)

"President Obama Calls for One-Third Cut To Oil Imports" (Washington Post)

"Obama Sets Goal of One-Third Cut in Oil Imports" (New York Times)

Full Text, Video of Obama's March 30 Energy Speech (Huffington Post)

 

Source: Reuters, 03/31/2011