According to President Obama, America is poised to take control of our energy future, but this could be compromised due to the arbitrary cuts caused by the so-called “sequestration” now taking place. During his speech last Friday at Argonne National Laboratory in Chicago, Illinois, the President pointed out the cuts would affect the federal research projects, “at a time when the country is poised to take control of our energy future.”
“After years of talking about it, we’re finally poised to take control of our energy future. We produce more oil than we have in 15 years. We import less oil than we have in 20 years. We’ve doubled the amount of renewable energy that we generate from sources like wind and solar — with tens of thousands of good jobs to show for it. We’re producing more natural gas than we ever have before — with hundreds of thousands of good jobs to show for it. We supported the first new nuclear power plant in America since the 1970s. And we’re sending less carbon pollution into the environment than we have in nearly 20 years.”
While focusing much of his speech on his proposed actions to replace the cuts, he also discussed his proposal to create an Energy Security Trust that would use revenues generated by oil and gas development on federal lands to support new research and technologies that will shift cars and trucks to non-oil fuels. With gas prices high during the past month, Obama urged Congress to adopt his approach.
The renewable energy industry responded to the President’s remarks as well as his proposed Energy Security Trust.
“America is ready for more renewable fuel. It’s being made in American cities, reinvigorating our local economies and the nation’s, too. It is being made by American workers, offering them good-paying, stable jobs in a growing industry. It’s also fighting climate change,” said Adam Monroe, President of Novozymes North America. “Investors want to keep investing but need policy certainty. If America provides that certainty – and lets policies like the Renewable Fuel Standard work – we’ll see more construction jobs, long-term careers, steel in the ground and less effects on our air and environment.”
Fuels American agreed and noted that a move toward oil alternatives is the best way to reduce pain at the pump and address climate change. “The Energy Security Trust Fund is a major step in this direction, and cost-effective, homegrown renewable fuel will play a central role. The initiative could not come at a better time, as gas prices and global temperatures are on the rise, and the oil industry is redoubling its efforts to block alternatives.”