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The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s. ....
Hearing testimony right now from leading scholars, business, and oil executives and our chief national correspondent jim angle is tracking this live for us. jim? reporter: hello, jenna. the president is arguing he is following all of the above strategy. oil and gas as well as renewables and suggested yesterday in his news conference the president would be crazy not to especially in an election year. do you think the president of the united states going into re-election wants gas prices to go up higher? is that, is that, is there anybody here who think that makes a lot of sense. president may try to take credit for production gains that are entirely the work of others but more to the point is the fact that production is up on private lands, and down on federal lands. the property the president and interior secretary actually manage. reporter: now with consumers hurting and strain of high gas prices threatening the recovery, congress is holding a hearing today to mention ....
Now sounds more like president bush. we need to take action now to expand domestic oil production. american oil production is the highest that it s been in eight years. critics say the president is taking credit he doesn t deserve, since new oil wells take 5-15 years to come on line, and most u.s. production gains have come off private, not federal, land. that s really why you re seeing an increase in production. it doesn t have anything to do with government. democrat dan born says the president s political receipt vehicle not in policy. over the last three years, we ve opened millions of new acres for oil and gas exploration. reporter: but he s not closed millions of acres. in 2009 and 10 the u.s. issued the fewest on shore leases in decades. i m directing my administration to open more than 75 percent of our potential off shore oil and gas resources. reporter: but compare. bush opened the atlantic, pacific and most of alaska to drilling. obama closed all those are ....