BP exec: U.S. needs Gulf oil

The head of BP America is telling Congress that despite the catastrophic oil spill, the U.S. cannot do without oil from the Gulf of Mexico.

BP America chairman and president Lamar McKay told a House panel in prepared testimony that America's economy, security and standard of living "significantly depend upon domestic oil and gas production." He said that companies have operated in the Gulf safely and reliably. The Associated Press obtained a copy of his remarks prior to delivery.

McKay warned that reducing energy production without consumption would shift jobs offshore -- and put millions of additional barrels onto tanker ships that travel across oceans.