[Weekly Compilation of Presidential Documents Volume 44, Number 34 (Monday, September 1, 2008)]
[Pages 1153-1154]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

August 23, 2008

    Good morning. Before they left Washington for their August recess, 
Congress failed to take action on an issue that is currently of great 
concern to Americans: high prices at the gas pump.
    The fundamental reason for high gasoline prices is that the supply 
of oil 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 open up more of America's 
domestic oil resources for exploration, including offshore exploration 
of the Outer Continental Shelf. The American people overwhelmingly 
support this proposal. But throughout the summer, the leaders of the 
Democratic Congress have refused to allow it to come to a vote.
    Now that the pressure to take action has become overwhelming, 
Democratic leaders in Congress have changed their strategy. Rather than 
attempting to block expanded drilling by preventing a vote, they are now 
attempting to block it by bringing up a bill that is designed to fail.
    News reports indicate that Democratic leaders in Congress may plan 
to hold a vote on a bill that would make us more dependent on foreign 
oil and would likely make energy costs go up, not down. This bill would 
raise taxes on energy companies, which would reduce domestic production. 
This bill would make the Nation more vulnerable to supply shocks by 
tapping into our emergency supply of oil, the Strategic Petroleum 
Reserve. And it would impose a rigid national mandate that would 
increase electricity costs in States where there are few renewable 
resources.
    Democratic leaders know that these counterproductive proposals will 
not become law. Yet they seem ready to push this legislation as a way to 
block offshore drilling while appearing to be in favor of it. They need 
to stop standing in the way of expanding domestic production and take 
meaningful steps now to address the pain caused by high energy prices.
    I've proposed a comprehensive approach to our energy problems that 
would permit a range of new drilling options and encourage the 
development of alternative resources. If Democratic leaders will not 
approve this comprehensive approach, the very least they should do when 
they return in September is to take action on three commonsense energy 
solutions that enjoy bipartisan support.
    First, Congress should open the way for environmentally responsible 
offshore exploration on the Outer Continental Shelf. Experts believe 
that these areas could eventually produce nearly 10 years worth of 
America's current annual oil production. This exploration is now banned 
by a provision included in the annual interior appropriations bill. When 
Congress returns, they should remove this restriction so we can get 
these vast oil resources from the ocean floor to your gas tank.
    Second, Congress should expand access to oil shale, a resource right 
here in America that could produce the equivalent of more than a 
century's worth of imports at current levels. Last year, however, 
Democratic leaders pushed through legislation blocking oil shale leasing 
on Federal lands. They should lift that ban as soon as they return.
    Third, Congress should extend renewable power tax credits to spur 
the development of alternative sources of energy like wind and solar. 
They should make these credits long-term and expand them to cover all 
forms of low-emission power generation, including nuclear power. 
Increasing production of low-carbon electricity will help us reduce our 
addiction to oil by allowing us to power a new generation of plug-in 
hybrid and hydrogen-powered vehicles.
    There is bipartisan support in Congress for all three of these 
measures. So, instead of

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spending the next month deadlocked on matters where Republicans and 
Democrats disagree, Members of Congress should come together to pass 
legislation in these areas, where there is agreement.
    This Congress has been one of the most unproductive on record. 
They've failed to address the challenge of high gas prices. Members 
still have time to take action on this vital priority for the American 
people. They need to send me a bill next month that I can sign, so we 
can bring relief to drivers, small-business owners, farmers and 
ranchers, and every American affected by high prices at the pump.
    Thank you for listening.

Note: The address was recorded at 7 a.m. on August 22 at the Bush Ranch 
in Crawford, TX, for broadcast at 10:06 a.m. on August 23. The 
transcript was made available by the Office of the Press Secretary on 
August 22 but was embargoed for release until the broadcast. The Office 
of the Press Secretary also released a Spanish language transcript of 
this address.