President Obama’s Speech on October 2, 2014: The New Foundation

In President Obama’s speech given at Northwestern University in early October he speaks on the economic and energy security benefits of American oil and natural gas production. Below is an excerpt from President Obama’s speech:

“We upped our investments in American energy to reduce our dependence on foreign oil and strengthen our own energy security. Today, the number one oil and gas producer in the world is no longer Russia or Saudi Arabia; it’s America. For the first time in nearly two decades, we now produce more oil than we buy from other countries. We’re doing it so fast that two years ago, I set a goal to cut our oil imports in half by 2020 – and we will meet that goal this year.”

Visit myFOXchicago.com to read the full transcript of President Obama’s speech at Northwestern University.

Watch President Obama’s full speech in the video below.

EID VIDEO: Shale Development Enhances American Energy Security

This video from Energy in Depth shows some highlights of the shale revolution in the United States and how the revolution is reducing America’s reliance on foreign energy, strengthening its position as a global market leader in the production of oil and natural gas.

In the video you will see clips and quotes from major news publications and U.S. political figures such as Barack Obama, discussing and commenting on the development of America’s shale resources and American energy independence.