Obama Speech in Nashua

In the face of escalating gas prices and criticism from Republican opponents, President Obama discussed the importance of diminishing the United States' dependence on foreign oil in a speech delivered to Nashua Community College on Thursday.

"Anybody that tells you we can drill our way out of this problem doesn't know what they're talking about or isn't telling you the truth," Obama told an applauding crowd, "We have to keep developing new technology new sources of energy."

Obama pointed out that during his Administration, America's dependence on foreign oil has decreased with each passing year.  The President even pulled out a chart that demonstrated this decline, and refered to it during his speech.

"Under my administration, America is producing more oil today that an any time in the last eight years," Obama said, "Under my Administration, we have a near-record number of oil rigs operating right now - more working oil and gas rigs than the rest of the world combined.  That's a fact."

Obama urged the audience to confront Congress, who he said has subsidized the oil industry with an  $4 billion in tax dollars annually.

"Let's put every single Member on record," he urged, "You can either stand up for the oil companies, or you can stand up for the American people.  You can keep subsidizing a fossil fuel that's been getting taxpayer dollars for a century, or you can place your bets on a clean energy future."

Obama placed emphasis throughout his speech on the progress his Administration has made in creating a renewable fuel economy in the United States.  He said that the use of clean, renewable energy has nearly doubled in the United States since he took office.

"We're taking every possible action to develop a near hundred-year supply of natural gas," Obama said, "something that experts believe will support more than 600,000 jobs by the end of the decade."

In a speech that was not given as a part of his impending campaign, Obama did take some jabs at the Republicans that are gunning for his job, showing that tensions between the incumbent and his Republican competitors is starting to mount.

"It's the easiest thing in the world to make phony election-year promises about lowering gas prices," he said,  "What's harder is to make a serious, sustained commitment to tackle a problem that may not be solved in one year or one term or even one decade."