Bush: U.S. energy fix will take time

WASHINGTON, July 15 (UPI) -- Offshore oil exploration won't solve short-term U.S. energy issues, but will send a psychological message on supply and demand, President George Bush said.

Bush said Tuesday during a White House news conference that removing a moratorium on offshore oil exploration would change "the psychology that supply stays stagnant while demand rises."

Offshore drilling also "will send a signal to the world that we're willing to use new technologies to find oil reserves at home," said Bush, who earlier rescinded the presidential prohibition on offshore drilling. The two-step process to re-open offshore drilling also requires congressional action.

"There is no immediate fix. The president doesn't have a magic wand," Bush said. "It took us a while to get here and we need to have a good strategy to get out of it."

U.S. consumers are conserving and the government is seeking ways to find more energy resources, Bush said.

"All of us want to get away from reliance on hydrocarbons, but it's going to take time," he said.

Consumers have become wise about how they use gas and energy in the face of higher costs, he said, "but it would be presumptuous on my part to dictate how consumers live their lives."