Gingrich Calls for 'All Out' Drilling

The Hill reports:

Republican White House hopeful Newt Gingrich is calling for an “all-out” effort to expand U.S. oil-and-gas development that he alleges would bring down gasoline prices long before new supplies are produced.

Gingrich, in a speech in South Carolina, said this should include natural-gas drilling off that state’s coast, and development of oil shale in Western states.

“We have natural gas off South Carolina which will create jobs in South Carolina and an export product for America. New jobs will grow in the Port of Charleston around natural gas just as new jobs will grow in an offshore industry – high paying, high value jobs,” Gingrich said in prepared remarks before a rotary club in Columbia, S.C.

“We don’t have to wait years for gas prices to come down. An aggressive commitment now to develop more of our abundant oil and natural gas resources will put downward pressure on prices at the pump long before any new reserves actually come online,” the former House Speaker said.