Here is a short summary of Bush’s Enron Energy Policy as outlined in a speech on June 15th.

Thanks.

Supporting Energy efficiency is critical for the future of America.

Increasing energy efficiency saves money and will make us less dependent on foreign sources of energy.

I’m optimistic about the future, and have reason to be. More americans are working and owning homes than ever, and we want to increase those numbers. Private accounts are good for America.

Small businesses factories and families are doing well. Our economy is growing. Millions of Americans are prospering.

WE need to make prices reasonable at the pump. High gas prices are hurting America, and we have to deal with that.

Global oil demand is outstripping supply, and America is too dependent on foreign oil. In the past we made 3/4 of our oil, but now 2/3 is coming from foreign sources. Developing countries are making prices go up.

Foreigners are taxing the American Dream. I am doing everything to ease the problem: increasing oil production. We are going to protect consumers from price gouging.
We need a comprehensive energy policy, which I developed when I first got into office. Congress failed to act on that policy, so I demand that congress put a ‘good’ bill on my desk on my desk before August.

The house has acted and the senate is sitting on their hands.

This bill will not help right away, but we cannot wait until the problem gets worse. There are 4 steps we need to take to address the root causes of high gas prices and to reduce our dependence on foreign oil.

  1. Improve efficiency and conservation.

    • Hybrids – $4000 tax rebate
    • Clean Diesel

  2. Produce and refine more domestically.

    • Arctic National WIldlife Refuge– will produce 1 million barrels a day and pass a pro-growth, pro-jobs, pro-environment development of the Arctic National Wildlife Refuge.
    • More Refining – EPA will reduce regulation for refinery expansion. Build more refineries on closed military facilities with ‘simplified’ permitting.

  3. Develop alternatives to Gas and Diesel

    • Hydrogen – $240 million/year hydrogen subsidies with more in the energy bill.
    • Ethanol & Biodiesel – $84 million in 2006 to make ethanol from farms forest and dumps.

  4. Help other nations use technology to reduce their demand

Along with high gas prices, we have higher electricity bills.

To help we have to improve conservation and efficiency.

  • Keep the Energy Star program.
  • Americans spent 1/2 as much on heating in 2001 as in 1978
  • “One day, technologies like solar panels and high-efficiency appliances and advanced insulation could even allow us to build “zero-energy homes” that produce as much energy as they consume.”

Harness power of technology to deliver electricity more efficiently:

  • Super-conducting power lines.
  • Bring electrical grid into the 21st century.

Generate more electricity:

* Coal – we have enough to last 250 years. But it is dirty, so I promised to invest $200 million/year over 10 years to clean coal, and have delivered $300 million/year over 5 years. There is no doubt in my mind we can burn coal in environmentally friendly ways.

Congress must pass the Clear Skies initiative, as it is sound policy. It wil not only clean the environment, but will result in $10s of billions in private clean coal investments.

* Natural Gas

WE have the 6th largest proven reserves in the world. We need to increase eco-friendly extraction of natural gas from federal lands. Congress needs to give federal authority over site choice for liquified natural gas receiving terminal location.

* Nuclear Power

WE need to expand nuclear power. France gets 78% of its power from low cost, safe, nuclear plants. I told the Energy Department to help congress pass legislation to ‘reduce uncertainty in the nuclear plant liscensing process’ and I am telling “congress to provide other incentives such as federal insurance to protect the builders of the first four new plants against lawsuits, bureaucratic obstacles, and other delays beyond their control.”

The goal is to address the root causes of higher energy costs by diversifying our energy supply and reducing our dependence of foreign sources of energy. We have got to act today. No more debate; aciton.

We may comprises on outstanding issues such as MTBE. But for the sake of national security and for the sake of economic security, the Congress needs to pass an energy bill now.

Now is the time to act. American innovation will protect our children and our future.

May God bless you all.

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