• SOURCE: American Petroleum Institute

Chief Economist Says Domestic Oil Development is the Solution



mp3 (audio)
ANCHOR LEAD: When oil supplies are threatened anywhere in the world, its effects can be seen all over. Brian Osuch has more on what this means to anyone planning to fill up their gas tanks in the coming months. (:60) SCRIPT: Newsbreak, I'm Brian Osuch. Gas prices are soaring leaving some motorists paying more at the pump. Chief Economist for The American Petroleum Institute, John Felmy, says the price of crude oil is the biggest factor for the spike. CUT: (Felmy) Tensions in the Middle East and rising worldwide demand for crude are having a heavy impact on how much Americans pay for their oil and gasoline. While we cannot control actions in the Middle East, we can do a lot more here at home to secure our energy future. SCRIPT: Felmy says one of the best ways to address this price surge is to increase U.S. oil supplies. He says that, with the right policies along with oil from Canada, we can be energy self sufficient in just 12 years. CUT: (Felmy) Now's the time to increase oil production here at home. We can do a lot more if we're given access to more reserves on public lands and offshore. It not only builds up our oil supply, but will create American jobs and provide more revenue to our ailing economy. We also need immediate approval to build the Keystone XL pipeline to bring more crude from our friendly northern neighbor to refineries here in the U.S. SCRIPT: For more, long onto Energy-Tomorrow-dot-org. That's Newsbreak from the API.
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