For the first time in nearly two decades, the U.S. produced more oil at home in October than it imported from abroad. Obama called the shift "a huge competitive advantage" for the United States.
The president spoke at a Cleveland plant that makes steel used for higher fuel-efficient cars. Obama says the comeback of the auto industry during his presidency helped the ArcelorMittal plant and saved more than 1 million American jobs.
"We've got to do more to get those engines of the economy churning even faster," Obama said. "But because we've been willing to do some hard things, not just kick the can down the road, factories are reopening their doors, businesses are hiring new workers."
The president was highlighting some of the positive notes in the still sluggish economic recovery, even as problems with the health care law were the focus Thursday in Washington.
Obama announced earlier in the day from the White House that insurance companies would have the option to keep offering consumers plans that would otherwise be canceled. The announcement was meant to meet anObama promise, ultimately unmet for millions, which assured Americans that they would be able to keep their coverage if they liked it.
"We are not going to gut this law. We will fix what needs to be fixed, but we're going to make the Affordable Care Act work," Obama said.
In a bright spot for Obama, Ohio Gov. John Kasich is one of a few Republican governors to take advantage of the law's Medicaid expansion to reach more low-income Americans.
"The governor didn't do it because he just loves me so much," Obama said. "If every Republican governor did what Kasich did here rather than play politics about it, you'd have another 5.4 million Americans who could get access to health care next year regardless of what happens with the website."
Obama was attending a political fundraiser Thursday evening in Philadelphia.
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(Photo: Michael Francis McElroy/Getty Images)