In the midst of their coverage on a 8.9 magnitude earthquake and devastating tsunami in Japan, Fox News found an opportunity to push their message of "drill, baby, drill." During today's edition of Happening Now, host Jenna Lee cut away from the show's coverage on Japan to host Fox Business' Chris Cotter and then Wall Street Journal's Steve Moore to discuss President Obama's then-upcoming remarks on the "rising energy prices." The segment quickly became a platform for Steve Moore to push for oil drilling in the United States.
Moore stated that opening the Strategic Petroleum Reserve would only decrease the price of oil at the pump by "ten cents." In fact, his own plan to "drill for oil here in the United States" would have virtually no effect on the price of gas at the pump. From today's edition of Happening Now:
STEVE MOORE: The president has been on the fence on that, about that about whether to tap the Strategic Petroleum Reserve. But I would say this, Jenna, for consumers out there. I don't think that that has a big impact on the gasoline price. If the president were to tap into the Strategic Reserve it might lower gasoline prices by five cents at most, ten cents a gallon and very temporarily. I think the bigger issue is, Jenna, what are we doing longer term? As I said, why aren't we drilling everywhere where we have a potential to develop our own gas and oil resources? I mean, the way I put it is Jenna is that every time we can drill for oil here in the United States every barrel, that's one less barrel we have to get from these countries like Saudi Arabia, like Iran and Iraq, like Libya that some so much turmoil.