From the Wonk Room.
In a sweeping address to both houses
of Congress, the Supreme Court, and the Cabinet, President Barack Obama
introduced his budgetary plan for the United States government,
explaining it will “invest in the three areas that are absolutely
critical to our economic future: energy, health care, and education” :
It begins with energy.
Obama described how countries like China, Germany, Japan, and South Korea have leapfrogged our nation, becoming the leaders in energy efficiency and renewable energy – using technology invented in the United States. “It is time for America to lead again,” Obama declared to sustained applause. He noted the recovery plan’s investments in renewable energy, efficiency, and a new clean electrical grid. However, he challenged the Congress to deliver legislation to limit global warming emissions “to truly transform our economy” and “save our planet”:
But to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America.
While Congress has been willing to support new incentives and tax breaks for energy development (including “clean coal”), both Democrats and Republicans have balked at putting a price on global warming pollution.
President Barack Obama’s excerpted remarks on energy: