5/16/2011

President Barack Obama announced Saturday measures to increase domestic oil and natural gas production, which include conducting more lease sales in the National Petroleum Reserve-Alaska and lengthening leases off Alaska's coast and in the Gulf of Mexico. The measures "make good sense" and will help the country wean dependence on crude imports, Obama said. The American Petroleum Institute lauds Obama's decision, but more needs to be done to raise output, said Erik Milito, API's upstream director.

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