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Drill, Baby, Drill? We Have, Baby, We Have

Floor Speech

By:
Date:
Location: Washington, DC

Mr. CONNOLLY of Virginia. Mr. Speaker, some claim the solution to America's energy concerns is ``Drill, Baby, drill.'' Under President Obama, domestic oil and natural gas production increased every year, with the largest increase in the number of drilling rigs in American history. Domestic oil production last year was the highest in a decade, and natural gas production the highest ever in our history.

Under President Obama, we've reduced foreign oil imports by 1 million barrels of oil per day. Foreign oil dependence was 60 percent of U.S. consumption in 2005 under Bush. It's dropped to 49 percent in 2010 under Obama, and is now on pace to fall to 36 percent, reversing trends since the Nixon Presidency. By 2020, U.S. oil production will be up 11 percent, rivaling the largest producer in the world, Saudi Arabia.

Under this President, U.S. oil production and exploration are booming, while foreign oil imports are plummeting.

The U.S. consumes 21 percent of the world's energy but contains 2 percent of proven oil reserves. That's why it's so imperative we follow President Obama's lead and pursue multiple sources of energy to meet our ever-expanding needs.

So to those who say, ``Drill more,'' President Obama can respond, ``We have, Baby, we have.''


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