U.S. President Barack Obama on Wednesday called for the country to reduce its oil imports by one third by 2025 to secure its energy supply in the future.

"Today, I want to announce a new goal, one that is reasonable, one that is achievable, and one that is necessary," Obama said during a speech at Georgetown University in Washington D.C.. "When I was elected to this office, America imported 11 million barrels of oil a day. By a little more than a decade from now, we will have cut that by one-third."

Citing fossil energy, Obama said that "the United States of America cannot afford to bet our long-term prosperity and security on a resource that will eventually run out."

"The only way for America's energy supply to be truly secure is by permanently reducing our dependence on oil. We're going to have to find ways to boost our efficiency so we use less oil. We' ve got to discover and produce cleaner, renewable sources of energy that also produce less carbon pollution," he said.

Obama said that meeting this new goal of cutting U.S. oil dependence depends largely on two things: finding and producing more oil at home, and reducing our dependence on oil with cleaner alternative fuels and greater efficiency.

"There are no quick fixes," Obama said. "And we will keep on being a victim to shifts in the oil market until we get serious about a long-term policy for secure, affordable energy."

On the supply side, last year, American oil production reached its highest level since 2003. And for the first time in more than a decade, oil that the U.S. imported accounted for less than half the liquid fuel it consumed.

The Obama Administration is encouraging offshore oil exploration and production.

"To keep reducing that reliance on imports, my administration is encouraging offshore oil exploration and production -- as long as it's safe and responsible," Obama said.