OBAMA AIMS TO REDUCE US FOREIGN OIL IMPORTS

Washington, March 31- US President Barack Obama aims to cut America's import of foreign oil by one third in the next ten years.

The White House wants to encourage a broad menu of traditional and renewable energy sources to cope with the increasing global demand and cut carbon emissions.

The President also signalled a continued commitment to nuclear energy despite the Japanese nuclear disaster at Fukushima.

Obama's commitment follows the footsteps of his predecessors which stretches back to Richard Nixon, who all promised to reduce dependence on foreign oil.

Yet, they all but failed to fulfill their pledge including the last man in the White House, George W. Bush.

"I've got to be honest, we run into the same political gridlock, the same inertia that has held us back for decades. That has to change," said Obama.

Obama said despite the BP oil spill in the Gulf of Mexico, the administration is encouraging new exploration, backed up by stronger regulation.

But despite all the political heat being generated in the last election, he said that even if all the domestic oil were sucked up, the numbers still wouldn't add up.

"It still wouldn't be enough to meet our long-term needs. We consume about 25 per cent of the world's oil [but] we only have two per cent of the reserves," said Obama.

Instead, the White House wants to encourage a diverse consumption of gas, solar, wind, bio fuels and so-called "clean coal".

According to a disputed International Energy Agency study, China has now overtaken America as the biggest energy consumer and appears to be taking the lead on renewables too.

Obama said: "Today China has the most wind capacity, Germany has the most solar capacity. Both invest more in clean energy. We've fallen behind”.

And despite the current Fukushima nuclear crisis, Obama is signalling a continued commitment to nuclear.

"We've got to recognize that nuclear power, if its safe, can make a significant contribution to the climate change question”.

Because of low taxes at the pump, spikes in world prices inevitably take an intense political hue here and dent growth.

But along with increased fuel economy standards already in place, Obama wants to take the energy debate out of age-old political cycle and commit to long-term solutions across the board.

<