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Obama: Time to Create the Energy Security Trust

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U.S. President Barack Obama says the only way to break the cycle of spiking gas prices is to "shift cars and trucks off of oil for good."

He said that is why he asked Congress in his State of the Union address to establish an Energy Security Trust to investigate new technologies for oil-free vehicles.

President Obama said in his weekly address Saturday that oil and gas revenues from public lands could supply the money for the research "without adding a dime" to the deficit.



Obama recorded his address near Chicago at the Argonne National Laboratory, which has conducted groundbreaking research on advanced car battery technology that reduces the need for oil and gas in vehicles.

In the Republican address, House of Representatives Budget Committee Chairman Paul Ryan, who was a candidate for vice president last year, said Republicans have a plan to balance the federal budget in 10 years by cutting spending and not raising taxes.

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by: Davis K. Thanjan from: New York
March 18, 2013 7:56 PM
Even India has started production of battery operated cars without any financial assistance from the government. Why should government spend money to promote electric cars in the US? May be Obama has somebody in mind similar to Solindra. The government should stop all incentives and rebates provided to energy industries in the name of research, energy security and clean energy.

by: Kitagawa Keikoh from: Daikanyama, JPN
March 16, 2013 8:13 PM
I feel this address is one of the start of new era for electrical vehicles. The US will concentrate on development of electric cars and invest more money for them.
On the other hand, Japanese car makers still developing hybrid cars. That's because they are not car producers but they are car ENGINE producers on its basis. They can not thrown away their engine technologies and will disappear from car industries in the near future.

by: milan milenkovic from: usa,va
March 16, 2013 4:04 PM
US now imports some 20% of its energy needs, but will become nearly Self-sufficient around 2035 (Global energy NEEDS are forecast to increase by THIRD by 2035, with 60% of the additional demand coming from China, India and the Middle East). The most important goal for Clean Energy is USA FOREIGN oil independence !( in 2011. our dependance on foreign oil was 45%, for the first time in over decade). Other than that: to cut tax brakes for oil companies and to stop oil market fraud. As I know, IER said that North America ( US, Can, Mex.) have total recoverable resources at more than 1,7 trillion barrels of oil and 4,7 quadrillion of natural gas… My conclusion: “ SMART MIX” of CLEAN E ( solar, wind, natural gas, biomass, algae …) , energy STORAGE technology, and innovations like: Ocean Thermal Energy Conversion ( by Lockheed M.); Ocean power ( Columbia Power Technologies), Vorbeck/BMW lithium-air battery , E. coli switch grass biomass project ( by JBEI), Solar Space Farm… are the best options for our future.

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