Operating Pressure Of Saudi Oil Fields

"What Barack Obama has done is lock up America's energy reserves," Bachmann said. "We're the No. 1 energy-resource-rich nation in the world. We have more oil in three Western states in the form of shale oil than all the oil in Saudi Arabia. That doesn't include the Bakken oil field in North Dakota or the eastern Gulf region or the Atlantic or the Pacific or ANWAR or the Arctic region." By exploiting those resources, the nation could increase the supply of oil and other fuels, thereby reducing prices, while creating a bonanza of lucrative jobs, she said.   

"We also have a brand-new natural gas find in Pennsylvania with over a trillion cubic feet of natural gas. We also have 25 percent of all the coal in the world," Bachmann said. "We just aren't accessing or utilizing our energy. Energy could be one of the most stable, accessible forms of resources for business in the United States.... And we would create millions of high-paying jobs instantly."

With the national average of gasoline prices around $3.50 a gallon today, the $2 price might seem like a distant memory. But Bachmann likes to remind audiences  that it was lower than that little more than two and half years ago — on January 20, 2009, for example. "The price of gasoline the day that Barack Obama took office was $1.79 a gallon," she said. "If the price of gasoline was $1.79 a gallon just two and three years ago, certainly we can get it back down to that level again. Why wouldn't we be able to do that? We're a 'can-do' America.