Kay Bailey Hutchison on Obama's Damaging Energy Policy

"President Obama's policy has resulted in an unprecedented slowdown in new exploration and production of oil and gas. Offshore drilling permits are being issued at less than half the rate of the previous administration. The average number of leases issued on public lands is less than half than during President Clinton's term. Not only will the slowdown in domestic production drive up fuel prices, it also takes away jobs from tens of thousands of oil industry workers.

"The same is true for the Keystone pipeline. It would produce thousands of good-paying construction jobs and tens of thousands more at U.S. refineries and suppliers. That pipeline would assure the U.S. of 830,000 barrels of needed oil daily -- not from halfway around the world, but from our friend to the north, Canada. After four years of environmental reviews and regulatory approvals, the Obama Administration is still stalling. If we wait, the Canadians have indicated they can ship their oil to China, and a huge opportunity will have been lost."