U.S. Oil Imports Down

President Obama and his administration are touting a new U.S. report out Monday that show oil imports down by 10 percent from last year and domestic production at its highest since 2003. The report by six federal agencies is being released in an election year that’s seeing the Republican candidates accusing Obama of causing gas prices to rise. The U.S. now imports 45 percent of its oil, down from 57 percent in 2008 and down a million barrels a day from last year. Domestic crude production rose by 120,000 barrels a day in 2011 compared to 2010, to about 5.6 million barrels a day.