MILWAUKEE (AP) — U.S. Sen. Ron Johnson says one way the U.S. can attack oil prices is by drilling more in Alaska and the Gulf of Mexico.
The Republican freshman told reporters Friday that oil prices were high in part because of monetary policies that contributed to a weak dollar. He said the U.S. should be making better use of domestic resources.
However, he said he doesn’t necessarily agree with broad calls to end the $4 billion per year the oil industry receives in taxpayer subsidies. He said some items that are called subsidies are just accounting issues, while others give the industry incentive to do the sort of exploration that could lead to lower prices.
Johnson also said he’s grateful to his senior colleague, Sen. Herb Kohl, for easing his transition into the Senate.