[Weekly Compilation of Presidential Documents Volume 44, Number 31 (Monday, August 11, 2008)]
[Pages 1091-1092]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

August 2, 2008

    Good morning. This weekend marks the beginning of August, the month 
when many Americans take their summer vacation. This year, however, the 
high price of gas is taking a toll on summer travelers. Congress is now 
taking a month-long recess of its own. Unfortunately, Democratic leaders 
are leaving town without taking any action to ease the burden of high 
gas prices on families across America.
    The fundamental source of high gas prices is the fact that supply is 
not keeping pace with demand. To reduce pressure on prices, we need to 
increase the supply of oil, especially oil produced here at home. So in 
June, I called on Congress to lift the legislative ban that prevents 
offshore exploration of parts of the Outer Continental Shelf, or OCS. 
But the leaders of the Democratic Congress have refused to allow a vote. 
Lifting the ban on this offshore exploration would benefit our economy 
in two important ways.
    First, lifting the ban would allow our Nation to take advantage of a 
large and reliable source of domestic oil. Experts believe that these 
restricted areas could eventually produce about 18 billion barrels of 
oil; that's almost 10 years worth of America's current oil production.
    Second, lifting the ban would create new opportunities for American 
workers and businesses. On Tuesday, I visited the Lincoln Electric 
Company in Cleveland, Ohio, a business that produces welding products 
used for offshore exploration. If Congress were to permit this 
exploration, it would mean new jobs at businesses like Lincoln Electric. 
American drivers are counting on Congress to lift the ban on offshore 
exploration, and so are American workers.
    Bringing these resources on line will take time, and that means that 
the need for congressional action is urgent. I've lifted the executive 
restrictions on offshore exploration. This means that the only thing now 
standing between the American people and these vast oil resources is the 
United States Congress. The sooner Congress lifts the ban, the sooner we 
can get this oil from beneath the ocean floor to your gas tank.
    We also need to take other essential steps to strengthen domestic 
oil production. Congress needs to pass legislation that allows us to tap 
the extraordinary potential of oil shale, permits exploration in 
currently restricted areas of northern Alaska, and enables the expansion 
of America's domestic refining capacity.
    It appears that the leaders of the Democratically controlled 
Congress will let the entire summer pass without voting on any of these 
vital steps to help reduce pressure on gas prices. This failure to act 
is unacceptable to me and unacceptable to the American people. So when 
they return from their summer break, Democratic leaders should show that 
they've heard the frustration of the American people by allowing a vote 
on offshore exploration. If Congress does not act, they will owe 
families across America an explanation for why they're ignoring their 
concerns.
    I know that high energy prices are making this a difficult time for 
many of our citizens, but it is important to remember that these high 
prices were not inevitable. They are partially the result of policy 
choices that have been made over the years by the United States 
Congress. Now Congress has an opportunity to begin reversing that 
damage. By opening up new resources at home, we can help bring energy 
costs down, and that will help ensure that our economy remains the 
strongest, most vibrant, and most hopeful in the world.
    Thank you for listening.

Note: The address was recorded at 10 a.m. on August 1 in Walkers Point, 
ME, for broadcast at 10:06 a.m. on August 2. The transcript was made

[[Page 1092]]

available by the Office of the Press Secretary on August 1 but was 
embargoed for release until the broadcast. The Office of the Press 
Secretary also released a Spanish language transcript of this address.