President Bush at Lincoln Electric in Ohio

By July 30, 2008Economy, Energy

President Bush speaks to employee at Lincoln Electric Holdings in Euclid, OH.

President Bush visited Lincoln Electric Holdings in Euclid, Ohio, on Tuesday, to talk about energy and the economy. (White House photo.)

In his remarks, President Bush argued for expanded domestic production AND conservation.

The American people must understand that new technologies make it easier to protect coral reefs, for example, when we drill offshore; that new technologies enable us to explore for oil and gas in ways that was not possible 20 years ago. You can have one platform and directionally drill from that platform. So I signed an executive order that said why don’t we explore for oil and gas offshore. If we’ve got a problem with not having enough oil, let’s go after some oil right here in the United States of America in environmentally friendly ways.

There was an executive order blocking that. I signed an executive order that unblocked it. Now it’s up to the United States Congress to make a decision as to whether or not you’re going to continue to face high gasoline prices at the pump or whether or not the United States ought to send a clear signal to the world: We’re tired of being dependent on oil from overseas, let’s find it right here in the United States of America. (Applause.)

I wish people could see the products you make here. What’s interesting is that not only would we send a clear signal that we’re going to do our part of increasing supply, but there’s also a direct correlation between investment and jobs. How do I know? I just saw a welding machine — actually, I was the guy that punched the button — (laughter) — on the welding machine that is making state of the art pipeline equipment to be able to move natural gas to market. The more active we are here in the United States to find our own oil reserves, the more business companies like yours will get.

So now there’s a double — there’s a dividend: more oil here in the United States, which takes pressure off gasoline prices and continuing good jobs in companies like Lincoln Electric.

The President’s fact sheet is available here.  News coverage:



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