The average price of a gallon of gasoline in the U.S is spiraling toward $4.00 a gallon as spring approaches. The price of oil has escalated as the situation in the Middle East remains volatile.
South Carolina Congressman Jeff Duncan says the recent rise in prices illustrates the importantance for the U.S. to lessen its dependence on foreign oil by stepping up exploration both on land and offshore. The Obama Administration placed a moratorium on offshore drilling after the major oil spill by the BP Corporation nearly two years ago. Duncan says that moratorium slowed domestic production.
AUDIO: Duncan on drilling moratorium and Bakken Field in North Dakota (:39)
Anne Eller of Greenwood affiliate WLMA contributed to the story.