billions in tax give aways every year. now i want to make clear. we know drilling for oil has to be a key part of our overall oil strategy. we want u.s. oil companies to be doing well. we want them to succeed. that s why under my administration, we have opened up millions of acres of federal lands and waters to oil and gas production. we have quadrupled the number of oil rigs to a record high. we have added enough oil and gas pipeline to circle the earth and then some. just yesterday we announced the next step for potential new oil and gas exploration in the atlantic. the fact is we re producing more oil right now than we have in eight years and we re importing less of it as well. for two years in a row, america has bought less oil from other countries than we produce here at home. for the first time in over a decade. so american oil is booming. the oil industry is doing just fine. with record profits and rising production, i m not worried about the big oil companies. with hi