In his 2012 State of the Union Address, President Barack Obama said: "Nowhere is the promise of innovation greater than in American-made energy. We've opened millions of new acres for oil and gas exploration, and more than 75% of our potential offshore oil and gas resources. Right now, American oil production is the highest that it's been in 8 years. Last year, we relied less on foreign oil than in any of the past 16 years.

But with only 2% of the world's oil reserves, oil isn't enough. This country needs an all-out, all-of-the-above strategy that develops every available source of American energy—a strategy that's cleaner, cheaper, and full of new jobs."

Is this excerpt from President Obama’s speech an example of argument or persuasion? Provide at least two reasons to support your answer. Answer in complete sentences.