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The president has promised an “all-of-the-above” energy strategy for the future that involves investments in alternative energy, as well as increased domestic production of fossil fuels.
In March 2010, the president approved new offshore drilling in the Gulf of Mexico, only to see the Deepwater Horizon rig explode and cause one of the worst oil spills in American history a few weeks later. He implemented a six-month moratorium on offshore drilling in May of that year but lifted the restriction in October 2010 and eventually opened new areas to exploration, including the waters off the Arctic coast of Alaska and vast parts of the Gulf of Mexico. Waters along the West Coast and Virginia remain off-limits.
Conservatives have criticized the administration for rejecting the Keystone XL pipeline, designed to provide a new source of petroleum from the oil sands of Canada. The White House said the deadline that congressional Republicans pushed had prohibited an appropriate review, citing concerns about the project’s path through the environmentally sensitive Nebraska Sand Hills. Critics argue that the president was merely pandering to environmentalists.
Obama has taken credit for increased domestic oil production, but experts note that the rise during his administration is mostly due to his predecessor’s policies, since President Bush’s last five-year drilling plan ended just this year.
The Obama administration approved billions of dollars in loans under the American Recovery and Reinvestment Act of 2009 to spur alternative-energy growth. Several grants went to companies that failed, including a $535 million loan to the solar-panel manufacturer Solyndra, which went bankrupt in September. The Energy Department promised to back $75 million in private investments earlier in 2011, after it became clear the company was experiencing serious trouble.
Obama rejected a temporary halt of fracking in the Marcellus shale regions of Pennsylvania and New York in 2010, but he has since pressed for strict regulations to ensure public safety.
In April, Obama announced plans to step up oversight of energy markets by investing $52 million to strengthen the Commodities Futures Trading Commission and by increasing by tenfold the penalties for market manipulation. Politicians from both sides of the political spectrum have said that “speculation” is partly responsible for the hike in oil prices during the past year, but neither the president nor lawmakers have offered specific examples when pressed to cite instances.
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Obama on EnergyObama's Statements (444)
Because it's easy to say you're independent and you're going to bring people together and all that stuff -- until you actually have to do it. And when the vote comes on energy, and there’s a choice between standing with big oil or fighting for the clean energy jobs of the future, whose side are you going to be on? Martha is going to be on your side.
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It's the oldest play in the book. But everybody here knows that the choices that have to be made in order to get this economy moving -- to make sure that people are actually working in jobs that pay a living wage, that we have a green energy economy that is freeing ourselves from dependence on foreign oil, that young people can actually afford to go to college and can look forward to graduating to careers that are building this country -- that those things aren’t going to happen overnight and they're not going to be easy. But we sure aren’t going to get there if we look backwards and try to reinstitute the same failed policies that we've had over the past decade.
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We invested in proven strategies like the COPS program and the Byrne Grants that you rely on to bring down crime and boost public safety. We funded and awarded more than 1,800 of the Energy Efficiency and Conservation Block Grants that you conceived -- flexible products that reduce energy use, put people back to work and save taxpayers' money.
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That's why we enacted initiatives that are beginning to give rise to a clean energy economy. That's part of what's going on in this community college. If we hadn't done anything with the Recovery Act, talk to the people who are building wind turbines and solar panels. They would have told you their industry was about to collapse because credit had completely frozen. And now you're seeing all across Ohio some of the -- this state has received more funds than just about anybody in order to build on that clean energy economy -- new cutting-edge wind turbines and batteries that are going to be going into energy-efficient cars.
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And when we walked through these doors last year our first and most urgent task was to rescue our economy, to give immediate relief to those who were hurt by its downturn, but also to rebuild it on a new, stronger foundation for job creation. So we helped state and local governments keep cops and firefighters and teachers on the job, helping to plug their budgets. We invested in areas with the most potential for job growth both immediate and lasting –- in our infrastructure, in science and technology, in education, in clean energy. And these steps have saved or created about 2 million jobs so far.
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We should put more Americans to work building clean energy facilities -- and give rebates to Americans who make their homes more energy-efficient, which supports clean energy jobs. And to encourage these and other businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America.
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You see, Washington has been telling us to wait for decades, even as the problems have grown worse. Meanwhile, China is not waiting to revamp its economy. Germany is not waiting. India is not waiting. These nations -- they're not standing still. These nations aren't playing for second place. They're putting more emphasis on math and science. They're rebuilding their infrastructure. They're making serious investments in clean energy because they want those jobs. Well, I do not accept second place for the United States of America.
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But to create more of these clean energy jobs, we need more production, more efficiency, more incentives. And that means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. It means continued investment in advanced biofuels and clean coal technologies. And, yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.
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I know there have been questions about whether we can afford such changes in a tough economy. I know that there are those who disagree with the overwhelming scientific evidence on climate change. But here's the thing -- even if you doubt the evidence, providing incentives for energy-efficiency and clean energy are the right thing to do for our future -– because the nation that leads the clean energy economy will be the nation that leads the global economy. And America must be that nation.
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We will continue to go through the budget, line by line, page by page, to eliminate programs that we can't afford and don't work. We've already identified $20 billion in savings for next year. To help working families, we'll extend our middle-class tax cuts. But at a time of record deficits, we will not continue tax cuts for oil companies, for investment fund managers, and for those making over $250,000 a year. We just can't afford it.
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We won't stop fighting to spark innovation and ignite a clean energy economy where America's workers are building solar panels and wind towers and cutting-edge batteries for automobiles -- because the nation that leads the clean energy revolution will be the nation that leads the global economy. And, as I said last night, other countries aren't waiting. They want those jobs. China wants those jobs. Germany wants those jobs. They are going after them hard, making the investments required.
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Even if -- and I mentioned last night we have to increase production on oil, we have to increase production on natural gas, because we're not going to be able to get all our clean energy up and running quickly enough to meet all of our economic growth needs. But even if we are increasing production we've got to get started now decreasing our use and making our economy more efficient.
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As you heard last night, that's why we're putting in place the policies that will enable us to reduce the debt we inherited and deal with the spending required to keep us from falling off the cliff this year. And during the process, you heard him say how we are reordering our country's priorities. We're investing in health care, education, energy information, technology, health technology -- electric vehicles and batteries, investments that will help us build a new economy for the 21st century -- investments that will allow us to lead in the 21st century as we did in the 20th.
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Now, finally, this is only one part of the jobs package that I've proposed. I'm also calling for additional investments in infrastructure. We were just talking, Terry and I were -- and Joe -- we were just talking about the fact that part of their business right now has to do with rail lines and doing some work for Amtrak. We were just talking about the fact that part of it has to do with solar companies. Well, we want to increase our investment in clean energy.
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Look, I listen all the time, including to your governor, who's somebody who I enjoyed working with a lot before the campaign and now that I'm President. And I know that West Virginia struggles with unemployment, and I know how important coal is to West Virginia and a lot of the natural resources there. That's part of the reason why I've said that we need a comprehensive energy policy that sets us up for a long-term future.
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I've said that I'm a promoter of nuclear energy, something that I think over the last three decades has been subject to a lot of partisan wrangling and ideological wrangling. I don't think it makes sense. I think that that has to be part of our energy mix. I've said that I am supportive -- and I said this two nights ago at the State of the Union -- that I am in favor of increased production.
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And the future is that clean energy -- cleaner forms of energy are going to be increasingly important, because even if folks are still skeptical in some cases about climate change in our politics and in Congress, the world is not skeptical about it. If we're going to be after some of these big markets, they're going to be looking to see, is the United States the one that's developing clean coal technology? Is the United States developing our natural gas resources in the most effective way? Is the United States the one that is going to lead in electric cars? Because if we're not leading, those other countries are going to be leading.
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So what I want to do is work with West Virginia to figure out how we can seize that future. But to do that, that means there's going to have to be some transition. We can't operate the coal industry in the United States as if we're still in the 1920s or the 1930s or the 1950s. We've got to be thinking what does that industry look like in the next hundred years. And it's going to be different. And that means there's going to be some transition. And that's where I think a well-thought-through policy of incentivizing the new while recognizing that there's going to be a transition process -- and we're not just suddenly putting the old out of business right away -- that has to be something that both Republicans and Democrats should be able to embrace.
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And we began building the infrastructure, investing not just in roads and bridges, in airports and railways, but in the infrastructure of the future, something that John Hickenlooper knows a lot about, making sure that we've got high-speed in this country, making sure that we've got broadband lines in this country, making sure that we're investing in science and technology, and education and clean energy in America that is going to assure long-term growth and prosperity.
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Look, we can keep on being consumed by the politics of energy, but we know that there are factories to reopen, and assembly lines to restart, and workers ready to build wind turbines and solar panels and advanced batteries right here in the United States of America. We know that whoever leads the clean energy revolution is going to lead the 21st century economy. The people of Colorado understand that. Michael Bennet understands that.
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And at the same time, we initiated investments to spur hiring while laying a foundation for long-term lasting growth. We doubled our capacity in renewable energy like wind and solar. We computerized medical records to save money and lives. We provided the largest boost to medical research in history. All across the country, classrooms and school laboratories are being renovated. Roads and railways are being upgraded as part of the largest investment in infrastructure since President Eisenhower half a century ago initiated the Interstate Highway System.
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And because the future belongs to countries that create the jobs of tomorrow, we've got to lead in energy. That's why we're investing in companies right here in Nevada and across this nation that produce solar power and wind power and the smart, energy-efficient electric grids -- the investments that are giving rise to a clean energy economy. It's vital that we do that.
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Fiscal responsibility. Clean energy. A world-class education. A health care system that works. An economy that lifts up all our citizens. That's how America can lead. That's how the future will be won -- with all of us coming together to win it -- Democrats and Republicans alike. And independents.
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And so if we've got a smart energy policy that is encouraging the use of electric cars and improving gas mileage, and making sure that we're looking at alternative fuels like biofuels that can be used for trucks, all those things will help to reduce our dependence on foreign oil and, as a consequence, will, over time, stabilize fuel prices in a way that is very helpful to the airlines.
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Q Thank you, . My name is Dr. Herve Misoko (phonetic). I am originally from France -- actually from Africa, moved to France, and now I'm here in America because I believe -- I still believe that America is the country of the American Dream. And I came here -- I'm a scientist, president of a renewable energy startup, and I came here because I really believe that America can become the first country for clean energy.
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Well, that's the only idea that we're trying to talk about when it comes to these greenhouse gases that are causing global warming. If we say that, you know what, the pollution that's being sent into the atmosphere has a cost to all of us -- in terms of in some cases the air we breathe that's causing asthma, in some cases because it's causing climate change -- we just want you to take into account those costs and price energy accordingly. And that means that things like wind energy suddenly become more appealing because they don't produce those pollution -- those pollutants, and other sources of energy become less appealing because they do produce those pollutants.
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Look what happened with the car. We started getting our clock cleaned when consumers decided they wanted a cleaner car and suddenly everybody was buying their cars from Japan, or now South Korea. And we want to make sure that that doesn't happen when it comes to wind turbines, it doesn't happen when it comes to solar energy, et cetera.
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Overall, the economy is in a better place than it was a year ago. We were contracting by 6 percent and we're now growing by 6 percent. But I know that your states are still in a very tough situation, and too many Americans still haven't felt the recovery in their own lives. So we're working to create jobs by all means necessary, be it by cutting taxes for small businesses that create them, to investing more in infrastructure and in energy efficiency, or giving you more help to close budget shortfalls. And I am not going to rest until we see more progress in each and every one of your states.
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And that's why we've taken up the cause of better health care that works for our people, our businesses, and our governments alike. That's why we will continue to fight for the cause of clean energy, an economy that will free ourselves from the grips of foreign oil and generate millions of good jobs and good wages in the process. That's why we've taken up the cause of guaranteeing that Americans have the knowledge and the skills and education they need in this new and changing world.
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I was talking to Governor Christie a moment ago. It used to be, five years ago when we tried to talk about wind power along the East Coast, there was Delaware and no one else was doing it. All of sudden we started to invest in it and now you've got millions of megawatts of programs that are being suggested. Same way with solar energy. We're making major new investment in the Mohave Desert, a billion-dollar commitment.
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And nations around the world, from Asia to Europe, have already realized this. They’re putting more emphasis on math and science. They’re building high-speed railroads and expanding broadband access. They’re making serious investments in clean energy because they want those jobs. These countries know what’s required to compete in the 21st century. And so do we. As I said in the State of the Union, I do not accept second place for the United States of America.
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A competitive America is also America that finally has a smart energy policy. We know there's no silver bullet here. We understand that to reduce our dependence on oil and the damage caused by climate change, we're going to need more production in the short term, we're going to need more efficiency, and we need more incentives for clean energy.
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And already, the Recovery Act has allowed us to jumpstart the clean energy industry in America -– an investment that will lead to 720,000 clean energy jobs by the year 2012. To take just one example, the United States used to make less than 2 percent of the world's advanced batteries for hybrid cars. By 2015, we’ll have enough capacity to make up to 40 percent of these batteries.
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So that’s what health reform is all about. Now, as long a road as this has been, we all know our journey is far from over. There’s still the work to do to rebuild this economy. There’s still work to do to spur on hiring. There’s work to do to improve our schools and make sure every child has a decent education. There’s still work to do to reduce our dependence on foreign oil. There’s more work to do to provide greater economic security to a middle class that has been struggling for a decade.
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Ken and I were colleagues in the Senate, and I appointed him because I knew that he would be a faithful and pragmatic steward of our natural resources. And as Secretary, he is changing the way that the Interior Department does business so that we’re responsibly developing traditional sources of energy and renewable sources of energy, from the wind on the high plains to the suns in the desert to the waves off our coasts. And so I'm very grateful to the work that he’s done in culminating in one of the announcements that we’re making today.
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Today, we’re also going to go one step further. In order to save energy and taxpayer dollars, my administration -- led by Secretary Chu at Energy, as well as Administrator Johnson at GSA -- is doubling the number of hybrid vehicles in the federal fleet, even as we seek to reduce the number of cars and trucks used by our government overall. So we’re going to lead by example and practice what we preach: cutting waste, saving energy, and reducing our reliance on foreign oil.
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So today we’re announcing the expansion of offshore oil and gas exploration, but in ways that balance the need to harness domestic energy resources and the need to protect America’s natural resources. Under the leadership of Secretary Salazar, we’ll employ new technologies that reduce the impact of oil exploration. We’ll protect areas that are vital to tourism, the environment, and our national security. And we’ll be guided not by political ideology, but by scientific evidence.
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There will be those who strongly disagree with this decision, including those who say we should not open any new areas to drilling. But what I want to emphasize is that this announcement is part of a broader strategy that will move us from an economy that runs on fossil fuels and foreign oil to one that relies more on homegrown fuels and clean energy. And the only way this transition will succeed is if it strengthens our economy in the short term and the long run. To fail to recognize this reality would be a mistake.
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For decades we’ve talked about how our dependence on foreign oil threatens our economy -– yet our will to act rises and falls with the price of a barrel of oil. When gas gets expensive at the pump, suddenly everybody is an energy expert. And when it goes back down, everybody is back to their old habits.
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For decades we’ve talked about the threat to future generations posed by our current system of energy –- even as we can see the mounting evidence of climate change from the Arctic Circle to the Gulf Coast. And this is particularly relevant to all of you who are serving in uniform: For decades, we’ve talked about the risks to our security created by dependence on foreign oil, but that dependence has actually grown year after year after year after year.
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Some of the press may be wondering why we are announcing offshore drilling in a hangar at Andrews Air Force Base. Well, if there’s any doubt about the leadership that our military is showing, you just need to look at this F-18 fighter and the light-armored vehicle behind me. The Army and Marine Corps have been testing this vehicle on a mixture of biofuels. And this Navy fighter jet -- appropriately called the Green Hornet -- will be flown for the first time in just a few days, on Earth Day. If tests go as planned, it will be the first plane ever to fly faster than the speed of sound on a fuel mix that is half biomass. The Air Force is also testing jet engines using biofuels and had the first successful biofuel-powered test flight just last week. I don’t want to drum up any kind of rivalry here, but -- (laughter.)
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So moving towards clean energy is about our security. It’s also about our economy. And it’s about the future of our planet. And what I hope is, is the policies that we’ve laid out -- from hybrid fleets to offshore drilling, from nuclear energy to wind energy -- underscores the seriousness with which my administration takes this challenge. It’s a challenge that requires us to break out of the old ways of thinking, to think and act anew. And it requires each of us, regardless of whether we’re in the private sector or the public sector, whether we’re in the military or in the civilian side of government, to think about how could we be doing things better, how could we be doing things smarter -- so that we are no longer tethered to the whims of what happens somewhere in the Middle East or with other major oil-producing nations.
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So I’m open to proposals from my Democratic friends and my Republican friends. I think that we can break out of the broken politics of the past when it comes to our energy policy. I know that we can come together to pass comprehensive energy and climate legislation that’s going to foster new energy -- new industries, create millions of new jobs, protect our planet, and help us become more energy independent. That’s what we can do. That is what we must do. And I’m confident that is what we will do.
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So since taking office, we have seized that opportunity. With your help, we’ve made a historic investment in clean energy that will not only create the jobs of tomorrow, but will also lay the foundation for long-term economic growth. We’ve continued to invest in innovators and entrepreneurs who want to unleash the next wave of clean energy. We’ve strengthened our investment in our most precious resources -- the air we breathe, the water we drink, and the parks and public spaces that we enjoy.
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And if anybody has seen these blades for these wind turbines that Iowa is a leader in -- they’re being manufactured at a state-of-the-art factory that only a few years ago was completely shut down. And now they’ve got 600 people working there, and they’re looking to expand even further. And it gives you a sense of what can happen when you’ve got a combination of a terrific state government -- because Tom Vilsack was the one who originally brought them in. You’ve got a federal government that’s giving tax credits and tax incentives for wind energy and clean energy, and then you’ve got a community full of folks that are just ready to work and willing to do what it takes. And that is exactly the kind of future that we want to promote.
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For decades our schools have been failing too many of our kids. For decades, our dependence on foreign oil threatened our economic and national security. For decades, families have been struggling with out-of-control health care premiums. For decades, our deficits -- well, actually just a decade -- our deficits were unacceptably large year after year -- because 10 years ago, we actually had a surplus.
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Now, we’ve talked about this for decades. We talked about how our dependence on fossil fuels threatened our economy. But after all the talk, a lot of times our will to act rose and fell depending on what the price of a gallon of gas was at the pump. During the summer when prices went up, everybody was all for clean energy. And when prices went back down, suddenly everybody forgot about it.
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And each new wind farm has the potential to create hundreds of construction jobs, and dozens of permanent local jobs in communities just like Fort Madison. Robert -- we were talking about the fact that -- who’s catering the food here at the factory? That's suddenly a whole bunch of business for the local grocers. The folks who are installing the electricity here -- additional work. So there’s a ripple effect that occurs.
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And one study suggests that if we pursue our full potential for wind energy, and everything else goes right, wind could generate as much as 20 percent of America’s electricity 20 years from now. That's right, 20 percent. And Secretary Vilsack was telling me that Iowa is at the cutting edge. Iowa has already hit that mark, hasn’t it -- because of Governor Culver and his predecessor, Tom Vilsack, it may be a reality right here in Iowa. This state already generates a higher percentage of its electricity from wind than any other state. And that number is only growing. That number is only growing.
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And as extraordinary as this facility is, here’s the thing -- wind power isn’t a silver bullet, it’s not going to solve all our energy challenges. There’s no single energy source. The key is to understand that this is a key component, a key part of a comprehensive strategy to move us from an economy that just runs on fossil fuels to one that relies on more homegrown fuels and clean energy. I believe that we can come together around this issue and pass comprehensive energy and climate legislation that will ignite new industries, spark new jobs in towns just like Fort Madison, make America more energy-independent. Our security, our economy, the future of our planet all depend on it.
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That means making our schools more competitive, and our colleges and our community colleges more affordable to young people. That means health insurance reform that gives families and businesses more choice, and more competition, and better protection from some of the worst abuses of the insurance industry. It means common-sense reforms that prevent the irresponsibility of a few people on Wall Street wreaking havoc all across Main Street, all across America. And it means igniting a new, clean-energy economy that generates good jobs right here in the United States and starts freeing ourselves from dependence on foreign oil.
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Now, for decades, we’ve talked about doing this. For decades, we’ve talked about how our dependence on oil from other countries threatens our economy. But usually our will to act kind of rises or falls depending on the price at the pump. We talked about how it threatens future generations, even as we witnessed some funny things going on in terms of our climate change, and recognizing the environmental costs of relying on fossil fuels, but, frankly, we always said we’ll get to it tomorrow. We talked about how it threatened our security, but we’ve grown actually more dependent on foreign oil every single year since Richard Nixon started talking about this danger of dependency on foreign oil.
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A lot of people thought such an agreement was impossible. After all, for decades we had made little headway in improving the fuel efficiency of our cars. We’d hear a lot of urgent talk in Washington when oil prices went up, then we’d see politicians rush to the local gas stations -– I remember going to gas stations -- holding press conferences, announcing new legislation. But the impetus for action would fade when gas prices started to go back down. Meanwhile, progress was mired in a lot of old arguments traded across entrenched political divides: left versus right, management versus labor, business leaders versus environmental advocates.
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We know how important that is. We know that our dependence on foreign oil endangers our security and our economy. We know that climate change poses a threat to our way of life -– in fact we’re already seeing some of the profound and costly impacts. And the disaster in the Gulf only underscores that even as we pursue domestic production to reduce our reliance on imported oil, our long-term security depends on the development of alternative sources of fuel and new transportation technologies.
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And that’s why, when we fashioned the Recovery Act to get our economy moving again, we emphasized clean energy. Today, we’re supporting the development of advanced battery technologies. We’re doubling the capacity to generate renewable electricity. We’re building a stronger, smarter electric grid, which will be essential to powering the millions of plug-in hybrids -- cars and trucks that we hope to see on the roads. It’s estimated that through these investments, we’ll create or save more than 700,000 jobs. And these investments will help businesses develop new technologies that vehicle makers can use to meet higher fuel efficiency standards.
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Through the directive I’m signing, we’re also going to work with public and private sectors to develop the advanced infrastructure that will be necessary for plug-in hybrids and electric vehicles. And we’re going to continue to work to diversify our fuel mix, including biofuels, natural gas, and other cleaner sources of energy. I believe that it’s possible, in the next 20 years, for vehicles to use half the fuel and produce half the pollution that they do today. But that’s only going to happen if we are willing to do what’s necessary for the sake of our economy, our security, and our environment.
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Today’s announcement is an essential part of our energy strategy. But it’s not a substitute for other necessary steps to ensure our leadership in a new clean energy economy. I’m heartened by the good work that’s been done by Senator Kerry and Lieberman on a comprehensive energy and climate bill to reduce our dependence on foreign oil, to prevent the worst consequences of climate change, and foster the millions of new jobs that are possible if we rise to this challenge. And this follows the passage of comprehensive legislation through the House last June.
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Now the rest of us -- the rest of us must do our part. And to do so, we must first recognize that our strength and influence abroad begins with steps we take at home. We must educate our children to compete in an age where knowledge is capital, and the marketplace is global. We must develop clean energy that can power new industry and unbound us from foreign oil and preserve our planet. We have to pursue science and research that unlocks wonders as unforeseen to us today as the microchip and the surface of the moon were a century ago.
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And we thought about how could we restore an auto industry that was on the brink. But again, we couldn’t go back to the status quo. So what we did was we said, you know what, we’re going to make sure that GM and Chrysler aren’t liquidated, but we’re going to make sure that we invest in advanced battery technologies and hybrid technologies so that we can start seeing a future of plug-in hybrids that get 150 miles a gallon so that we can start breaking our dependence on foreign oil.
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And we’ve now got over a thousand people from the federal government deployed down there. We are doing everything we can to contain the damage. But the fact of the matter is, is that not only do we have to revisit how these oil companies are operating, to make sure that they're operating in a safe and effective way. But we’ve also still got this overarching issue, even if you hadn’t seen the catastrophe down in the Gulf, the reason that folks are now having to go down a mile deep into the ocean, and then another mile drilling into the ground below that is because the easy oilfields and oil wells are gone, or they're starting to diminish.
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And what does that tell us? That tells us that we’ve got to have a long-term energy strategy in this country. And we’ve got to start -- we’ve got to start cultivating -- we’ve got to start cultivating solar and wind and biodiesel. And we’ve got to increase energy efficiency across our economy in our buildings and our automobiles.
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Where was I? I was going down Memory Lane. So, we ended up initiating a series of steps -- the largest investment in clean energy in our history. Restoring the primacy of science and investing in research and development, the largest investment in infrastructure since Eisenhower built the Interstate Railway System. The largest investment in education by the federal government in our history. The most progressive -- the most progressive tax cut in our history to restore a sense of fairness to our tax system. Help for states so that they didn't have to lay off teachers and firefighters and police officers, including right here in California.
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And so we’ve sent over a thousand people down to the Gulf, boom, equipment, legal advisors, helping fishermen who have lost their livelihoods as a consequence of this. And we are now having to do a thoroughgoing review to see how it is that oil companies can say that they know how to handle these problems when it turns out actually that they don’t. And that’s a responsibility of government.
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And we’ve been putting it off for decade after decade after decade. And it is about time that we said to ourselves that we’re ready to make a change on behalf of the future of our children and our grandchildren. And it won’t happen overnight. It won’t happen tomorrow. It won’t happen next week. But if we start investing in clean energy technology and solar and wind and biodiesel, if we invest in hybrid plug-ins that can get 150 miles a gallon, if we start making our buildings more efficient and if we start finally saying to ourselves we can’t just let everybody pollute for free -- if we follow science and we follow some common-sense principles, then, look, oil is still going to be in the energy mix. We’re not going to eliminate that completely. But we are going to over time transition to ourselves and we will become more energy efficient, which will be good for our national security, it will be good for our economy, it will be good for our environment, it will be good for our future.
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So I try to visit places like this about once a week, hear from folks as often as possible who are actually doing the extraordinary work of building up America. And I appreciated the chance to tour your plant and to see the incredible, cutting-edge solar panels that you’re manufacturing, but also the process that goes into the manufacturing of these solar panels. And it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. So thank you very much for that.
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So that’s why, even as we cut taxes and provided emergency relief over the past year -- we also invested in basic research, in broadband networks, in rebuilding roads and bridges, in health information technology, and in clean energy. Because not only would this spur hiring by businesses -- it would create jobs in sectors with incredible potential to propel our economy for years, for decades to come. There is no better example than energy.
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We all know the price we pay as a country as a result of how we produce and use -- and, yes, waste -- energy today. We’ve been talking about it for decades -- since the gas shortages of the 1970s. Our dependence on foreign oil endangers our security and our economy. Climate change poses a threat to our way of life -- in fact, we’re already beginning to see its profound and costly impact. And the spill in the Gulf, which is just heartbreaking, only underscores the necessity of seeking alternative fuel sources. We’re not going to transition out of oil next year or 10 years from now. But think about it, part of what’s happening in the Gulf is that oil companies are drilling a mile underwater before they hit ground, and then a mile below that before they hit oil.
With the increased risks, the increased costs, it gives you a sense of where we’re going. We’re not going to be able to sustain this kind of fossil fuel use. This planet can’t sustain it. Think about when China and India -- where consumers there are starting to buy cars and use energy the way we are. So we’ve known that we’ve had to shift in a fundamental way, and that’s true for all of us.
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But even as we are dealing with this immediate crisis, we’ve got to remember that the risks our current dependence on oil holds for our environment and our coastal communities is not the only cost involved in our dependence on these fossil fuels. Around the world, from China to Germany, our competitors are waging a historic effort to lead in developing new energy technologies. There are factories like this being built in China, factories like this being built in Germany. Nobody is playing for second place. These countries recognize that the nation that leads the clean energy economy is likely to lead the global economy. And if we fail to recognize that same imperative, we risk falling behind. We risk falling behind.
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Fifteen years ago, the United States produced 40 percent of the world’s solar panels -- 40 percent. That was just 15 years ago. By 2008, our share had fallen to just over 5 percent. I don’t know about you, but I’m not prepared to cede American leadership in this industry, because I’m not prepared to cede America’s leadership in the global economy.
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Since the project broke ground last fall, more than 3,000 construction workers have been employed building this plant. Across the country, workers -- across the country, workers in 22 states are manufacturing the supplies for this project. Workers in a dozen states are building the advanced manufacturing equipment that will power this new facility. When it’s completed in a few months, Solyndra expects to hire a thousand workers to manufacture solar panels and sell them across America and around the world.
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We’re investing in an advanced electricity grid. And Governor Schwarzenegger and I were just talking about this before we came out, because this has been a big priority for him -- that will be more efficient and better able to harness renewable energy sources. We’re providing grants to build wind farms and install these solar panels, helping us double our ability to generate renewable energy. We’re expanding our capacity in biofuels to reduce our dependence on oil. We’ve helped forge one historic agreement -- and are on track to produce a second -- to dramatically increase the fuel efficiency of America’s cars and trucks. So we are making progress. It’s progress that’s going to produce jobs, that’s going to help secure our future.
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Already we’re seeing the results of the steps we’ve taken. As I said, before the Recovery Act, we had the capacity to make less than 2 percent of the world’s advanced vehicle batteries. In the next five years, we’ll make 40 percent of these batteries here in the United States. Before the Recovery Act, we could build just 5 percent of the world’s solar panels. In the next few years, we’re going to double our share to more than 10 percent.
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Here at this site, Solyndra expects to make enough solar panels each year to generate 500 megawatts of electricity. And over the lifetime of this expanded facility, that could be like replacing as many as eight coal-fired power plants. It’s also worth noting, to achieve this doubling of our share of solar capacity, we actually need to make four times as many solar panels, because other countries are adding capacity, too. Nobody in this race is standing still.
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That’s not all. You’re also proving something more. Every day that you build this expanded facility, as you fill orders for solar panels to ship around the world, you’re demonstrating that the promise of clean energy isn’t just an article of faith -- not anymore. It’s not some abstract possibility for science fiction movies or a distant future -- 10 years down the road or 20 years down the road. It’s happening right now. The future is here. We’re poised to transform the ways we power our homes and our cars and our businesses. And we’re poised to lead our competitors in the development of new technologies and products and businesses. And we are poised to generate countless new jobs, good-paying middle-class jobs, right here in the United States of America.
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What’s also been made clear from this disaster is that for years the oil and gas industry has leveraged such power that they have effectively been allowed to regulate themselves. One example: Under current law, the Interior Department has only 30 days to review an exploration plan submitted by an oil company. That leaves no time for the appropriate environmental review. They result is, they are continually waived. And this is just one example of a law that was tailored by the industry to serve their needs instead of the public’s. So Congress needs to address these issues as soon as possible, and my administration will work with them to do so.
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We’ve talked about doing this for decades, and we’ve made significant strides over the last year when it comes to investing in renewable energy and energy efficiency. The House of Representatives has already passed a bill that would finally jumpstart a permanent transition to a clean energy economy, and there is currently a plan in the Senate –- a plan that was developed with ideas from Democrats and Republicans –- that would achieve the same goal.
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If nothing else, this disaster should serve as a wake-up call that it’s time to move forward on this legislation. It’s time to accelerate the competition with countries like China, who have already realized the future lies in renewable energy. And it’s time to seize that future ourselves. So I call on Democrats and Republicans in Congress, working with my administration, to answer this challenge once and for all.
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Now, one of the legitimate questions that I think needs to be asked is should the federal government have such capacity. And that's part of what the role of the commission is going to be, is to take a look and say, do we make sure that a consortium of oil companies pay for specifically technology to deal with this kind of incident when it happens. Should that response team that’s effective be under the direct charge of the United States government or a private entity? But for now, BP has the best technology, along with the other oil companies, when it comes to actually capping the well down there.
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I continue to believe that oil production is important, domestic oil production is important. But I also believe we can’t do this stuff if we don’t have confidence that we can prevent crises like this from happening again. And it’s going to take some time for the experts to make those determinations. And as I said, in the meantime, I think it’s appropriate that we keep in place the moratorium that I’ve already issued.
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Secondly, with regard to the Minerals Management Service, Secretary Salazar yesterday basically blamed the Bush administration for the cozy relationship there, and you seemed to suggest that when you spoke in the Rose Garden a few weeks ago when you said, for too long, a decade or more -- most of those years, of course, the Bush administration -- there’s been a cozy relationship between the oil companies and the federal agency that permits them to drill. But you knew as soon as you came in, and Secretary Salazar did, about this cozy relationship, but you continued to give permits -- some of them under questionable circumstances. Is it fair to blame the Bush administration? Don't you deserve some of that?
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I continue to believe what I said at that time, which was that domestic oil production is an important part of our overall energy mix. It has to be part of an overall energy strategy. I also believe that it is insufficient to meet the needs of our future, which is why I’ve made huge investments in clean energy, why we continue to promote solar and wind and biodiesel and a whole range of other approaches, why we’re putting so much emphasis on energy efficiency.
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Now, let me make one broader point, though, about energy. The fact that oil companies now have to go a mile underwater and then drill another three miles below that in order to hit oil tells us something about the direction of the oil industry. Extraction is more expensive and it is going to be inherently more risky.
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But as I said yesterday, and as I repeated in the meeting that we just left, I ultimately take responsibility for solving this crisis. I’m the President and the buck stops with me. So I give the people of this community and the entire Gulf my word that we’re going to hold ourselves accountable to do whatever it takes for as long as it takes to stop this catastrophe, to defend our natural resources, to repair the damage, and to keep this region on its feet. Justice will be done for those whose lives have been upended by this disaster, for the families of those whose lives have been lost -- that is a solemn pledge that I am making.
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In particular, we’re expanding trade and commerce. We agreed to deepen our collaboration on energy efficiency and clean energy technologies. And this afternoon, President Medvedev and I will join American and Russian business leaders as they move forward with a series of major trade and investment deals that will create jobs for Americans and Russians across many sectors, from aerospace and automotive engineering to the financial sector and high technology. Consistent with my administration’s National Export Initiative, this includes the sale of 50 Boeing aircraft -- worth $4 billion -- that could add up to 44,000 new jobs in the American aerospace industry.
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So today, President Medvedev and I agreed to expand trade and commerce even further. We agreed to deepen our collaboration on energy efficiency and clean energy technologies. We reached an agreement that will allow the United States to begin exporting our poultry products to Russia once again. Chicken is important.
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The G20 leaders renewed our commitment, made in Pittsburgh, to phase out fossil fuel subsidies. The United States has laid out our plans for achieving this goal, and we’re urging our G20 partners to do so as well. This would be one of the most important steps we can take to create clean energy jobs, increase our energy security and address the threat of climate change.
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Now, let’s be fair though. The other party’s opposition is also rooted in some sincere beliefs about how they think the economy works. They think that our economy will do better if we just let the banks or the oil companies or the insurance industry make their own rules. They still believe that, even after the Wall Street crash, even after the BP oil well blew, that we should just keep a hands-off attitude. They think we should keep doing what we did for most of the last decade leading up to the recession.
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In the Gulf, we don’t yet know what caused the explosion on the Deepwater Horizon oil rig. But what we do know is that for decades, the oil industry has been able to essentially write its own rules and safety regulations. Industry insiders were put in charge of industry oversight. And oil and gas companies were allowed to basically fill out their own safety inspection forms.
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But if you think about the history of this country, we’ve always recognized that there are times when only government has been able to do what individuals couldn’t do and what corporations would not do. That’s how we have railroads and highways and public schools and police forces. That’s how we’ve made possible scientific research that led to the medical breakthroughs and technological wonders that all of us take for granted now. That’s why we have Social Security and a minimum wage and laws to protect the food we eat and the water we drink and the air we breathe. That’s why we have rules to ensure that mines are safe and that oil companies pay for the spills that they cause.
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So already -- already we’ve provided entrepreneurs and small business owners with tax credits and loan guarantees that’s led to 720,000 clean energy jobs -- will lead to over 700,000 jobs in 2012. These are good-paying, middle-class, American jobs. I’ve seen them. I’ve gone to wind turbine plants where they’re creating wind turbines, and gone to solar plants where they’re making the latest generation of solar panels. And we’ve created an entire new advanced battery industry here in the United States. So where we were only getting 2 percent of that market, we’re now going to be getting 40 percent of that market. That was all done through the Recovery Act.
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We’ve got to build on that progress, not undo it. That’s why we need to pass legislation that makes clean energy the profitable kind of energy for America’s businesses. We’ve got to have a national mission to change the way we use energy and produce energy. And you know what, it will be good for our economy. It is going to drive our economy in the 21st century. It is not time for us to look backwards, it’s time for us to look forward right now when it comes to energy policy in this country.
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And then we’ve got to put more money into research and development, because ultimately the jobs that are being created here are going to be created by small businesses, by start-ups, by entrepreneurs who’ve got a new idea. And we’ve got to make sure that -- we’ve got make sure that we’re investing in research on things like clean energy, so that’s another aspect of it.
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And we can’t afford to stand by as our dependence on foreign oil deepens, as we keep on pumping out the deadly pollutants that threaten our air and our water and the lives and livelihoods of our people. And we can’t stand by as we let China race ahead to create the clean energy jobs and industries of the future. We should be developing those renewable energy sources, and creating those high-wage, high-skill jobs right here in the United States of America.
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And now here we are a year later. And a year later, GM and Chrysler, along with Ford, are all posting a profit. The U.S. auto industry has hired 55,000 workers, the most job growth in a decade. And not only that, but you’re producing the cars of the future right here at this plant, producing cars that are going to reduce our dependence on foreign oil. This car right here doesn’t need a sip of gasoline for 40 miles and then keeps on going after that.
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So that’s why we still also got to make targeted investments to encourage new private sector manufacturing growth. We got to encourage clean energy. That’s why we’re taking steps to help communities revitalize and redevelop old, shuttered auto facilities, preparing them for new industries and new jobs and new opportunities.
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And ZBB is also planning to take advantage of a special tax credit to build another factory in southeastern Wisconsin, so we can create even more jobs and more opportunity. And Eric is confident that you can expand because you’re seeing rising demand for advanced batteries. And all this is part of steps we’ve taken in clean energy -– steps that have led to jobs manufacturing wind turbines and solar panels, building hybrid and electric vehicles, modernizing our electric grid so that we have more sources of renewable energy but we can also use it more effectively.
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We expect our commitment to clean energy to lead to more than 800,000 jobs by 2012. And that’s not just creating work in the short term, that’s going to help lay the foundation for lasting economic growth. I just want everybody to understand --just a few years ago, American businesses could only make 2 percent of the world’s advanced batteries for hybrid and electric vehicles -- 2 percent. In just a few years, we’ll have up to 40 percent of the world’s capacity.
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Here at ZBB, you’re building batteries to store electricity from solar cells and wind turbines. And you’ve been able to export batteries around the globe, and that’s helping lead this new industry. For years, we’ve heard about manufacturing jobs disappearing overseas. Well, companies like this are showing us how manufacturing can come back right here in the United States of America, right back here to Wisconsin.
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Now, I’ll be honest with you, there’s going to be a big debate about where we go. There are folks in Washington right now who think we should abandon our efforts to support clean energy. They’ve made the political calculation that it’s better to stand on the sidelines than work as a team to help American businesses and American workers.
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See, when folks lift up the hoods on the cars of the future, I want them to see engines stamped “Made in America.” When new batteries to store solar power come off the line, I want to see printed on the side, “Made in America.” When new technologies are developed and new industries are formed, I want them made right here in America. That's what we’re fighting for. That's what this is about.
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See, when folks lift up the hoods on the cars of the future, I want them to see engines stamped “Made in America.” When new batteries to store solar power come off the line, I want to see printed on the side, “Made in America.” When new technologies are developed and new industries are formed, I want them made right here in America. That's what we’re fighting for. That's what this is about.
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We want to jumpstart a homegrown clean energy industry. I don’t want to see new solar panels and wind turbines and electric cars manufactured someplace else. I want to see them stamped with “Made in America, by American workers.” We’re investing in a 21st century infrastructure -- not just new roads and bridges, but faster Internet access and high-speed railroads –- projects that can lead to hundreds of thousands of new, private sector jobs.
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The same thing is true on clean energy. And the same thing is true on equal pay for equal work. And the same thing is true for not having tobacco companies market to children. These are common-sense ideas. Democrats and Republicans across the country should be able to support it. But we’ve got folks in Washington who are more concerned with the next election than they are with the next generation.
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That can’t be the kind of leadership that we need going into the 21st century. We can’t go backwards. We have to move forward. That’s what’s at stake in this election. If we give them the keys to this economy, they are going to drive it right back into the ditch. And riding shotgun will be the big banks and the insurance companies and the oil companies and every special interest under the sun.
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Item after item after item when you look at what Nancy and the House have done in combination with Harry Reid in the Senate, what we’ve delivered is a package of changes that are going to help bolster security for middle-class families. And then we looked at the long term, and we said, look, what are we going to do about energy? And as a consequence invested -- made the biggest investments in clean energy in our history, building solar panels and wind turbines and advanced battery manufacturing plants, and biodiesel all across the country. And we said, we’re going to make the biggest investment in research and development in our history, and we did that. All designed to make sure that we are competitive in a 21st-century economy. And we did all this without any help from the other side.
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Instead of prolonging an addiction to oil that endangers everything from our security to our coastlines, we are jumpstarting a homegrown energy industry in this country. I don’t want to see solar panels and wind turbines and advanced batteries and electric cars manufactured in Europe or Asia. I want to see them made right here in the United States of America, by American workers.
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So I need you to join me, and I need you to join Patty, in building a future where our small businesses flourish on the power of their ideas and ingenuity. A future where clean energy powers not just America, but powers the world, produced in the fields and factories of the United States. A future where our children get the education and training they need to compete with anyone and anywhere. I want to build a future where we recapture a sense of optimism and confidence -- hope that’s made America a beacon to the world.
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If I did not have a partner like Patty, we would not have been able to invest in clean energy like never before in our history. If I didn’t have Patty Murray, we would not have been able to get small business loans out at a time when most banks had completely contracted and a lot of folks were on the verge of going under. If it hadn’t been for Patty, states like Washington would have had to lay off tens of thousands of teachers and firefighters and police officers. Because of Patty, we were able to get help that states and local governments needed.
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If we did not tackle energy now, then we don’t know what this view will look like 50 years from now, or 70 years from now, or maybe even 20 years from now, because of the impact it has on the environment. But we also don’t know what kind of impact the next crisis in terms of oil supplies might have on our economy or our national security.
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They’re coming back and basically peddling the same old snake oil they were peddling before. They want to give tax breaks to folks who don’t need them and weren’t even asking for them. They want to keep on giving tax breaks to companies that are shipping jobs overseas. They want to deregulate, so that oil companies, for example, could drill with minimum oversight. And they’re basically saying to most middle-class families, you’re on your own.
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We want to make sure that we are still pursuing a vision for clean energy, because I believe that whoever wins that race for clean energy in the 21st century, they are going to own the 21st century economy. And so I want solar panels and wind turbines and biodiesel and hydroelectric power -- I want that here in the United States of America. And I want a smart grid that can transmit it all across the country.
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Let me give you a couple of examples of areas that I think have enormous promise. Number one is the whole clean energy industry -- and Toledo actually is becoming a leader in this, creating good jobs, in areas like solar -- building solar panels, wind turbines, advanced battery manufacturing. There is a whole series of huge potential manufacturing industries in which we end up being world leaders and, as a bonus, end up creating a more energy-efficient economy that is also good for the environment.
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Now, we made, at the beginning of my term, the largest investment in clean energy in our history. And so there are plants that are opening up all across the country, creating products made in America that are now being shipped overseas. I'll give you one example, and that's the advanced battery manufacturing industry. These are the batteries that go into electric cars, or the batteries that are ending up helping to make sure that if you get solar power or wind power, that it can be transmitted in an efficient way.
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And we've got to have an energy strategy in this country. Instead of prolonging an addiction to oil that endangers everything from our security to our coastlines, we’re jumpstarting a homegrown, clean energy industry in this country. I don’t want to see solar panels and wind turbines and advanced batteries that go into electric cars -- I don't want them manufactured elsewhere. I want them manufactured right here in the United States of America, by American workers.
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These guys now, they’re all running on, well, Democrats are the spending party. Think about this. We had record surpluses. When I arrived in the White House I had a $1.3 trillion deficit wrapped in a bow waiting for me. So, yes, we had to spend money to get us out of what could have been a depression. So we spent money on high-speed rail, and we spent money on clean energy, and we spent money making sure teachers and cops and firefighters weren’t laid off. What did they have to show for the $1.3 trillion deficit that they delivered to us?
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And instead of prolonging an addiction to oil that endangers everything from our security to our coastlines, we’re now jumpstarting a homegrown, clean energy industry in this country. I don’t want to see solar panels or wind turbines and electric cars manufactured in Europe or in Asia. I want to see them made right here in the United States of America, by American workers. And that's starting to happen all across the Midwest.
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Because of the clean energy investments we’ve made, you’re seeing solar plants and wind turbine plants popping up, advanced battery manufacturing right here in the Midwest. But we’ve also got to not only spur on clean energy, we’ve got to build a 21st century infrastructure. Yes, new roads, new bridges, but also faster Internet access, high-speed railroads -- projects that will lead to hundreds of thousands of new private sector jobs.
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Unfortunately, over the last decade, we’ve not done what’s necessary to shore up the foundations of our own prosperity. We spent a trillion dollars at war, often financed by borrowing from overseas. This, in turn, has short-changed investments in our own people, and contributed to record deficits. For too long, we have put off tough decisions on everything from our manufacturing base to our energy policy to education reform. As a result, too many middle-class families find themselves working harder for less, while our nation’s long-term competitiveness is put at risk.
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Our most urgent task is to restore our economy, and put the millions of Americans who have lost their jobs back to work. To strengthen our middle class, we must give all our children the education they deserve, and all our workers the skills that they need to compete in a global economy. We must jumpstart industries that create jobs, and end our dependence on foreign oil. We must unleash the innovation that allows new products to roll off our assembly lines, and nurture the ideas that spring from our entrepreneurs. This will be difficult. But in the days to come, it must be our central mission as a people, and my central responsibility as President.
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As we combat the spread of deadly weapons, we’re also confronting the specter of climate change. After making historic investments in clean energy and efficiency at home, we helped forge an accord in Copenhagen that -- for the first time -- commits all major economies to reduce their emissions. We are keenly aware this is just a first step. And going forward, we will support a process in which all major economies meet our responsibilities to protect the planet while unleashing the power of clean energy to serve as an engine of growth and development.
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The key is for us to keep on improving the economy, and that’s going to be my number one priority over the next several years. If the economy is growing, if we’re investing in small businesses so they can open their doors and hire more workers, if we’re helping large businesses in terms of plants and equipment -- a lot of the initiatives that I’ve put in place already -- if we’re building infrastructure -- not just roads and bridges but also broadband lines -- if we’re investing in clean energy -- all those things are going to open up new opportunities for young people with skills and talent for the future.
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And what I want to do is just to go speak to young people directly and remind them of what I said during the campaign, which was change is always hard in this country. It doesn’t happen overnight. You take two steps forward, you take one step back. This is a big, complicated democracy. It’s contentious. It’s not always fun and games. A lot of times, to bring about big changes like, for example, in our energy policy, you’re taking on a lot of special interests -- the oil companies and utilities. And some of them may not want to see the kinds of changes that would lead to a strong green economy.
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And you got to ask yourselves, what direction do I want this country to go in? Do I want to invest in our people, in our middle class and making it stronger, and our infrastructure and our education system and clean energy -- is that one vision or are we just going to keep on doing the same things that got us into this mess in the first place?
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It meant that we invested in infrastructure that would lay the groundwork for a 21st century economy -- not just roads and bridges but also broadband lines and a smart electric grid that could make us more energy efficient. It meant that we had a new energy policy that would focus on clean energy -- solar and wind and biodiesel.
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And I just want to use as an example the proposal that they put forward with respect to tax policy. They want to borrow $700 billion to provide tax cuts for the top 2 percent of Americans, people making more than $250,000 a year. It would mean an average of a $100,000 check to millionaires and billionaires. That’s $700 billion we don’t have, so we’d either have to borrow it, which would add to our deficit, or we’d have to cut -- just to give you an example, about 20 percent of the amount of money that we spend on education. We’d have to cut investments we’ve made in clean energy. We’d have to cut investments we’ve made in Head Start. We’d have to cut improvements in terms of student loans for kids going to college that would affect about 8 million kids.
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But here’s the good news. The clean energy sector I think is going to be a huge growth sector. And what we did during the Recovery Act was we invested in companies, including companies here in Iowa. I was out at a wind farm -- where was that? Out in Fort Madison, Siemens -- where you go here and what was just a shut-down factory, they’ve reopened. They’re building the blades for these massive windmills. And they had just hired several hundred people and were looking at hiring several hundred more because they are seeing some certainty in the renewable energy industry.
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So if we give them the keys back, they’ll keep giving tax breaks to companies that ship jobs overseas. I want to give tax breaks. Barbara wants to give tax breaks. We already have -- to companies that are investing right here in the United States of America, to small businesses and American manufacturers and clean energy companies that are building solar panels and wind turbines and electric cars right here in the United States of America with American workers. That’s the choice in this election. That’s what we’re about.
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But you know what -- right now the same special interests that fought us every inch of the way, they are fighting just as hard in this election. They want to roll back the clock. Here in California, oil companies and the other special interests are spending millions on a campaign to gut clean air standards and clean energy standards, jeopardizing the health and prosperity of this state. All across America, special interests have poured millions of dollars into phony front groups -- you’ve seen them. They’re called “Americans for Prosperity,” or “Moms for Motherhood.” I made that last one up.
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They don’t have the guts to say, we’re funding this. So they hide behind these front groups. You don’t know who these groups are. You don’t know who’s funding it -- although we have a pretty good idea. Smearing Democratic candidates. This is thanks to a gigantic loophole. They can spend without limit, keep their contributions secret. It could be oil companies, Wall Street speculators, insurance companies. You don’t know. They won’t tell you. They won’t say.
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You don’t even know who’s sponsoring these ads. They have all these names like “Americans for Prosperity,” “Mothers for Motherhood.” Actually, I made that last one up, but -- but they’re spending without limit, keeping their contributions secret. They don’t even have the guts to stand up for what they say they believe in. And we don’t know who’s funding them. Is it the oil industry? Is it the insurance companies? Is it speculators? They won’t tell you. They won’t say. They don’t want you to know who’s bankrolling all these negative ads.
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This election is a choice. And if we give them the keys -- which will happen if you don’t vote -- they’ll keep giving tax breaks to companies that ship our jobs overseas. We want to give tax breaks to companies that create jobs right here in the United States -- to small businesses and American manufacturers and clean energy companies. Because I don’t want wind panels and -- wind turbines and solar panels and electric cars made in Europe or Asia. I want them built right here in the United States -- by American workers here in the United States of America. That's the choice in this election.
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We are going to make sure we continue to invest in clean energy and we enforce our clean air and clean water laws. You’ve seen what they're trying to do here in California, trying to roll back laws that will keep California at the cutting-edge. And now that we’ve got special interests spending millions of dollars out there to gut these clean air standards and clean energy standards, and they're doing the same thing all across the country -- millions of dollars in special interest money, using phony front groups. You don't know their names. They call themselves “Americans for Prosperity,” or “Mothers for Motherhood.” I made that last one up, but -- but it might as well be.
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I understand that. But don’t let anybody tell you that our fight hasn’t been worth it. Don’t let them tell you that we’re not making a difference. Because of you, there are people right here in California who don’t have to choose between getting treatment for their cancer or going bankrupt. Because of you, there are parents who are able to look their children in the eye and say, yes, you will go to college. We can afford it, we’re getting some help. Because of you, there are small businesses who are able to keep their doors open, even in the midst of recession. Because of you, we have brought home nearly 100,000 brave men and women from Iraq.
Because of you, we are going to continue to fight to end “don’t ask, don’t tell.” Because of you, we are going to make sure that we’ve got an energy policy for the future of America.
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If you give the other side the keys, the other side will keep giving tax breaks to companies that ship jobs overseas. Mark and I, we want to give tax breaks to companies that are investing right here in Minnesota, right here in the United States -- in small businesses and American manufacturers. We want to invest in clean energy companies -– because I don’t want solar panels and wind turbines and electric cars built in Europe or built in Asia. I want them built right here in America, with American workers. That’s the choice in this election.
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And thanks to a gigantic loophole, these special interests can spend unlimited amounts without even disclosing where the money is coming from. We don't know where it’s coming from. We don't know if it’s from the oil industry. We don't know if it’s from banks. We don't know if it’s insurance companies. Could be coming overseas -- we don't know. They won’t tell you. They don’t want you to know. They won't stand behind what they do.
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We've got a race to see who’s going to determine the clean energy future. And one of the things we did in the Recovery Act was invest in solar panels and wind turbines and advanced battery manufacturing here in the United States of America. I want those things made here. But right now we're getting our clock cleaned because we have not been serious about making those investments. And we haven't set the guideposts where private capital could come in and start making those investments. And that means losing that race. That's not acceptable.
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But understand, the other side is fighting back. The same special interests we’ve been battling on your behalf over the last two years, they are fighting back hard. And they are now using these phony front groups to funnel hundreds of millions of dollars in negative ads all across the country, distorting the records of Democrats. And you know what? They are not even willing to disclose where the money is coming from. You don’t know. Could be from insurance companies. Could be from oil companies. Could be from Wall Street banks. You don’t know.
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And that’s what we’ve done over the last two years. And I could not be prouder of the record of accomplishment in this Congress. A lot of it happened so fast people didn’t realize it. Within the first few months, not only had we made investments in clean energy that were unprecedented, not only did we significantly increase our research and development so that we could continue to be an innovation economy, not only did we make the largest investment in infrastructure since Eisenhower built the Interstate Highway System, not only did we make the largest investment in education in history, but we had made sure that 4 million children who hadn’t previously gotten it had health insurance.
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We don't want to keep giving tax breaks to companies that ship jobs overseas. We want to give tax breaks to companies that are investing right here in Charlottesville, right here in Virginia, to small businesses and American manufacturers and clean energy companies. I don't want solar panels and wind turbines and electric cars made in Europe or made in Asia. I want them made here in the United States of America with American workers. That's the choice in this election.
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I want to thank the first-time voters and Temple University Young Democrats -- for all the great work you guys have done. And give it up for Quincy Lyons for the great job he’s doing organizing.
Now, I am not here to give a long speech, because I want everybody out there, not in here. I’m here to deliver two messages.
The first message is thank you, because not only did all of you mobilize, organize and energize in 2008 to help send me to the White House -- but over the last two years, so many of you have continued to be involved each and every day to make sure that we could keep moving this country forward. It’s because of you that young people are getting college scholarships that weren’t getting it before.
It’s because of you that young people can now stay on their parents’ health insurance till they’re 26 -- and folks who have health insurance aren’t dropped by insurance companies when they get sick.
And the fact that -- and it’s because of you that we’re also going to be able to fund AIDS. It’s because of you that we are going to be in a position to make sure that each and every person out there is able to find work after a devastating economic crisis that made such a difference to so many families all across this country.
Now, here’s the thing, though, guys. You cannot stop now, because the fact of the matter is we are in a difficult election. It’s difficult here in Pennsylvania. It is difficult all across the country.
And unless each and every one of you turn out, and get your friends to turn out, and get your families to turn out, then we could fall short, and all the progress that we’ve made over the last couple of years can be rolled back.
So the key right now is not just to show up here, it’s not just to listen to speeches. It’s to go out there and do the hard work that's going to be required to bring this home over the last few days. That's going to be the key.
And so I know that some of you may have been at the rally we had with 20,000 folks of Germantown. But you know what, coming to a rally, that's not the hard part. What I need this weekend is 20,000 doors knocked on by all the volunteers who are here today. Is that something that you think you can do, 20,000?
In order for Joe Sestak to be successful and Dan Onorato to be successful and the entire Democratic ticket to be successful, you're going to need to talk to folks everywhere you can and make sure that you describe to them the future that you see for this country.
You want a country where every young person can get a decent education. You want a country where nobody is bankrupt because they get sick. You want a country where our seniors can retire with dignity and respect, and Social Security is there not just for this generation but for future generations.
You want a country that has the best infrastructure in the world. We used to be number one. We can’t have the best rail lines and the best airports built in China or Singapore. They need to be right here in the United States of America.
We don't want to be falling behind in math and science and technology. We’ve got to be first in research and development and technology to make sure that the new products and new services are developed right here in the United States.
We want clean energy here. We don't want solar panels and wind turbines and electric cars built in China or Europe. We want them built here in the United States with American workers.
And so it is absolutely critical that you go out there and you describe your hopes for the future, especially the young people here, because this election is not just going to set the stage for the next two years. It’s going to set the stage for the next 10, for the next 20.
And for those of you who were so excited two years ago, I just want to remind you this. Two years ago was not about me. It was about you and it was about this country. And I said then that change was going to be hard. Now, we’ve been involved in some tough fights over the last two years. We can’t move backwards now. We’ve got to keep moving forward now. And that's all going to be up to you.
So I want everybody to get out there, knock on doors, make phone calls, volunteer, talk to your friends, talk to your neighbors, go into the beauty shops, go into the barber shops, when you’re in church or -- you know, this weekend, I want everybody to be talking about -- have folks voted.
If you do that, then I am confident we’re not just going to win this election but we’re going to keep on moving this country forward so that the American Dream is accessible for everybody, not just some.
Thank you very much, Philadelphia. I love you. God bless you. Let’s get busy. Let’s go to work. Thank you.
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We don't want to keep giving tax breaks to companies that ship jobs overseas. We want those tax breaks to go to companies that are investing here in Bridgeport, small businesses and American manufacturers and clean energy companies, because we don't want electric cars or solar panels or wind turbines made in China or Asia or in Europe. We want them made right here in the United States of America -- with American workers. That's the choice in this election.
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THE VICE PRESIDENT: This is real, though. This is not just political theater. They don't think we should be giving tax credits for renewable energy so that you can make the windmills and solar panels and lithium ion batteries right here in Ohio, and hire thousands and thousands of Ohioans. They don't think we should provide the tax breaks to middle-class families to help send their kids to this great university. They don't think that's -- literally, that's what we're doing. But they don't think we should. And as a matter of fact, they don't even want to make the middle-class tax cuts permanent -- unless -- unless we provide $700 billion in tax cuts to their wealthy friends, increasing the burdens of the debt $700 billion.
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We know some of what we need to do to out-compete other countries in the 21st century. We need to offer our children the best education in the world. We need to spur innovation and new industries like clean energy that will create the jobs of tomorrow. We need to upgrade America’s crumbling infrastructure, its roads and bridges, update high-speed rail and high-speed Internet to connect every community. And we need to redouble our commitment to fiscal discipline and address our long-term deficit challenges.
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I also want to note that I support legislation to make clear -- in the wake of a recent Supreme Court decision -- that the Secretary of Interior can take land into trust for all federally recognized tribes. That’s something that I discussed yesterday with tribal leaders.
We’re also breaking down bureaucratic barriers that have prevented tribal nations from developing clean energy like wind and solar power. It’s essential not just to your prosperity, but to the prosperity of our whole country. And I’ve proposed increasing lending to tribal businesses by supporting community financial institutions so they can finance more loans. It is essential in order to help businesses expand and hire in areas where it can be hard to find credit.
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We also extended a program that GE says its customers have used to invest $6 billion in clean energy production across this country –- driving demand for the company’s wind turbines. And I saw one of those big turbines on the way in. So we know we can compete. Not just in the industries of the past, but also in the industries of the future.
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This is our generation’s Sputnik moment. Two years ago, I said that we needed to reach a level of research and development we haven’t seen since the height of the Space Race. And in a few weeks, I will be sending a budget to Congress that helps us meet that goal. We’ll invest in biomedical research, information technology, and especially clean energy technology -– an investment that will strengthen our security, protect our planet, and create countless new jobs for our people.
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Already, we’re seeing the promise of renewable energy. Robert and Gary Allen are brothers who run a small Michigan roofing company. After September 11th, they volunteered their best roofers to help repair the Pentagon. But half of their factory went unused, and the recession hit them hard. Today, with the help of a government loan, that empty space is being used to manufacture solar shingles that are being sold all across the country. In Robert’s words, “We reinvented ourselves.”
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That’s what Americans have done for over 200 years: reinvented ourselves. And to spur on more success stories like the Allen Brothers, we’ve begun to reinvent our energy policy. We’re not just handing out money. We’re issuing a challenge. We’re telling America’s scientists and engineers that if they assemble teams of the best minds in their fields, and focus on the hardest problems in clean energy, we’ll fund the Apollo projects of our time.
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At the California Institute of Technology, they’re developing a way to turn sunlight and water into fuel for our cars. At Oak Ridge National Laboratory, they’re using supercomputers to get a lot more power out of our nuclear facilities. With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have a million electric vehicles on the road by 2015.
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Now, clean energy breakthroughs will only translate into clean energy jobs if businesses know there will be a market for what they’re selling. So tonight, I challenge you to join me in setting a new goal: By 2035, 80 percent of America’s electricity will come from clean energy sources.
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We live and do business in the Information Age, but the last major reorganization of the government happened in the age of black-and-white TV. There are 12 different agencies that deal with exports. There are at least five different agencies that deal with housing policy. Then there’s my favorite example: The Interior Department is in charge of salmon while they’re in fresh water, but the Commerce Department handles them when they’re in saltwater. I hear it gets even more complicated once they’re smoked.
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America needs to get behind entrepreneurs like Neal. We need to get behind clean energy companies like Orion. We need to get behind innovation. That’s how we’ll meet the goal I set last night and make sure 80 percent of America’s electricity comes from clean energy sources by 2035. That is a goal that we can meet. That is a goal we must meet. (Applause. That’s how we’ll make America the first country to have 1 million electric vehicles on the road by 2015. In five years, a million electric cars on the road. That’s how America will lead the world in clean energy. And as I’ve said before, the nation that leads the world in clean energy will lead the global economy in the 21st century.
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But Orion tells a different story. This is the model for the future. I’m told the story of Orion begins a few decades ago. Neal was switching jobs. He decided to try his hand at clean energy. Clean energy seemed pretty far-fetched to a lot of people back then, but Neal figured there might be something to it. So he bought a couple of solar panel distributors. Both of them went under. But Neal didn’t give up. He kept at it, he started Orion, a company that would not only distribute but also manufacture its own lights.
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MILITARY AIDE: John H. Adams. At a time when contaminated waterways and polluted air threatened too many of our communities, John H. Adams co-founded the Natural Resources Defense Council to encourage responsible stewardship of our natural resources. A staunch defender of the wonders of our planet, he served as executive director and, later, as president of the NRDC, challenging Americans to live up to our responsibilities to leave something better to our children with an urgency matched by few others.
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During one of the sessions, somebody asked, why come to Cleveland? And I said, not only are big things happening here but they’re emblematic of what’s happening all across the Midwest and all across the country. This is a city that was founded on manufacturing, like a lot of cities in the Midwest. And as the economy changed, a lot of people wrote off Cleveland as a shell of its former self. But you, all of you in the audience, you knew differently. You’ve been working to reinvent the Rust Belt as the Tech Belt. So you’ve got fiber optics cables that now run beneath Cleveland’s streets like the railroads and highways of the 21st century, drawing new businesses to open their doors downtown. Your universities, your hospitals, entrepreneurs, businesses have all teamed up to get biotechnology and clean energy from imagination to reality, and as a consequence, you’ve made Cleveland an emerging global leader in both fields.
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We talked about the fact that people were encouraged by the investments we’re making in clean energy, but one of the most important things we heard could be done -- and this is something that Steve is going to be taking up with his Startup America -- is creating networking opportunities in particular fields and in particular clusters because oftentimes it’s the contacts that you make in that networking process that may open up job opportunities. And you know what? That doesn’t cost the U.S. Treasury anything to set up but may make all the difference in terms of success.
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And we’ve also got -- Norma Byron is here. Where’s Norma? There you are, Norma. Good to see you. Norma is CEO of Ashlawn Energy up in Painesville, and it’s a company that provides multi-megawatt energy storage solutions using -- and I have no idea what this is -- vanadium redox fuel cells. That’s one of the coolest things I’ve ever said out loud. So with help of an award from the Department of Energy’s Smart Grid Program, Ashlawn is poised to manufacture a next-generation energy storage system in Painesville that will improve efficiency. It will help families and businesses cut down on energy waste, save money and reduce dangerous carbon pollution. And they’re also retraining local workers with the skills necessary to manufacture new components.
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That’s why we convened this Winning the Future Forum for Small Business. Along with Cleveland State and local organizations like JumpStart and NorTech, we looked for entrepreneurs here in Northeast Ohio who live to out-hustle, to out-innovate everybody else -– in manufacturing and construction, in clean energy and biotech, in retail, in restaurants -– including the owner of Bubba’s BBQ, who I imagine will be one of the more popular participants today.
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In Ohio and Pennsylvania, thanks in part to federal grants, I saw universities and businesses joining together to make America a world leader in biotechnology and in clean energy. And if you have any doubt about the importance of this federal investment in research and development, I would suggest that you talk to the cutting-edge businesses in your own states. They will tell you that if we want the next big breakthrough, the next big industry to be an American breakthrough, an American industry, then we can’t sacrifice these investments in research and technology.
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Now, even as we focus on oil in the near term, we shouldn’t lose sight of the fact that the only long-term solution to the world’s dependence on fossil fuels is clean energy technology. And that’s why the United States and Brazil are deepening our cooperation on biofuels -- and why we’re launching a U.S.-Brazil Green Economy Partnership, because we know that the development of clean energy is one of the best ways to create new jobs and industries in both our nations.
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Together we can also promote energy security and protect our beautiful planet. As two nations that are committed to greener economies, we know that the ultimate solution to our energy challenges lies in clean and renewable power. And that’s why half the vehicles in this country can run on biofuels, and most of your electricity comes from hydropower. That’s also why, in the United States, we’ve jumpstarted a new clean energy industry. And that’s why the United States and Brazil are creating new energy partnerships -- to share technologies, create new jobs, and leave our children a world that is cleaner and safer than we found it.
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We’re expanding the clean energy partnerships that are key to creating green jobs and addressing climate change, which is evident in the glacier melt in this region. As a member of the Energy and Climate Partnership for the Americas that I proposed, Chile is already sharing its expertise with solar with the region.
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And we’re coming together, as a hemisphere, to create clean energy jobs and pursue more secure and sustainable energy futures. And if anybody doubts the urgency of climate change, they look -- they should look no further than the Americas -- from the stronger storms in the Caribbean, to glacier melt in the Andes, to the loss of forests and farmland across the region.
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Under the Energy and Climate Partnership of the Americas that I proposed, countries have stepped forward, each providing leadership and expertise. Brazil has expertise in biofuels. Chile in geothermal. Mexico on energy efficiency. El Salvador is connecting grids in Central America to make electricity more reliable. These are exactly the kind of partnerships that we need -- neighbors joining with neighbors to unleash the progress that none of us can achieve alone.
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Security for our citizens. Trade and development that creates jobs, prosperity and a clean energy future. Standing up for democracy and human rights. These are the partnerships that we can forge together -- here in the Americas but also around the world. And if anyone doubts whether this region has the capacity to meet these challenges, they need to only remember what happened here in Chile only a few months ago.
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We need to also give our contribution in this partnership. And our difference is in that the financial aid capacity that we have. But just to include the country of El Salvador in this it’s a message to the international investors that we can trust El Salvador. The government of El Salvador is now working on a series of projects that will be presented to the inter-government teams in this next April -- we can have a better idea of which of these programs or these projects are going to be financed. And we have an initiative in the port region, especially, and the extension of the airport, which I explained to President Obama in our bilateral meeting that we just had, but also in the transportation public system, and also in renewable energy projects -- so that once we have these projects prepared and already submitted to the inter-government teams, we hope that, in turn, we will have taken a decision on this regard, but from a different perspective.
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And what we then tried to do is to translate in concrete terms what would that mean in terms of policy. It would mean that we were educating our kids not just to be outstanding workers and outstanding entrepreneurs, but also outstanding citizens. It meant that we had to make sure that we had an energy policy that not only protected the planet but also ensured our long-term security because it ratcheted down our dependence on foreign oil. It meant that we finally had, in a nation as wealthy as ours, a health care system that was rational and smart and did not leave millions of people uninsured or at risk of bankruptcy just because a family member got sick.
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Now, here’s a source of concern, though. We’ve known about the dangers of our oil dependence for decades. Richard Nixon talked about freeing ourselves from dependence on foreign oil. And every President since that time has talked about freeing ourselves from dependence on foreign oil. Politicians of every stripe have promised energy independence, but that promise has so far gone unmet.
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This begins by continuing to increase America’s oil supply. Even for those of you who are interested in seeing a reduction in our dependence on fossil fuels -- and I know how passionate young people are about issues like climate change -- the fact of the matter is, is that for quite some time, America is going to be still dependent on oil in making its economy work.
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Now, last year, American oil production reached its highest level since 2003. And for the first time in more than a decade, oil we imported accounted for less than half of the liquid fuel we consumed. So that was a good trend. To keep reducing that reliance on imports, my administration is encouraging offshore oil exploration and production -- as long as it’s safe and responsible.
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Moreover, we’re actually pushing the oil industry to take advantage of the opportunities that they’ve already got. Right now the industry holds tens of millions of acres of leases where they’re not producing a single drop. They’re just sitting on supplies of American energy that are ready to be tapped. That’s why part of our plan is to provide new and better incentives that promote rapid, responsible development of these resources.
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Now, even if we increase domestic oil production, that is not going to be the long-term solution to our energy challenge. I give out this statistic all the time, and forgive me for repeating it again: America holds about 2 percent of the world’s proven oil reserves. What that means is, is that even if we drilled every drop of oil out of every single one of the reserves that we possess -- offshore and onshore -- it still wouldn’t be enough to meet our long-term needs. We consume about 25 percent of the world’s oil. We only have 2 percent of the reserves. Even if we doubled U.S. oil production, we’re still really short.
So the only way for America’s energy supply to be truly secure is by permanently reducing our dependence on oil. We’re going to have to find ways to boost our efficiency so we use less oil. We’ve got to discover and produce cleaner, renewable sources of energy that also produce less carbon pollution, which is threatening our climate. And we’ve got to do it quickly.
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Now, in terms of new sources of energy, we have a few different options. The first is natural gas. Recent innovations have given us the opportunity to tap large reserves –- perhaps a century’s worth of reserves, a hundred years worth of reserves -– in the shale under our feet. But just as is true in terms of us extracting oil from the ground, we’ve got to make sure that we’re extracting natural gas safely, without polluting our water supply.
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That’s why I’ve asked Secretary Chu, my Energy Secretary, to work with other agencies, the natural gas industry, states, and environmental experts to improve the safety of this process. And Chu is the right guy to do this. He’s got a Nobel Prize in physics. He actually deserved his Nobel Prize. And this is the kind of thing that he likes to do for fun on the weekend. He goes into his garage and he tinkers around and figures out how to extract natural gas.
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But the potential for natural gas is enormous. And this is an area where there’s actually been some broad bipartisan agreement. Last year, more than 150 members of Congress from both sides of the aisle produced legislation providing incentives to use clean-burning natural gas in our vehicles instead of oil. And that's a big deal. Getting 150 members of Congress to agree on anything is a big deal. And they were even joined by T. Boone Pickens, a businessman who made his fortune on oil, but who is out there making the simple point that we can’t simply drill our way out of our energy problems.
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So as we replace oil with fuels like natural gas and biofuels, we can also reduce our dependence by making cars and trucks that use less oil in the first place. Seventy percent of our petroleum consumption goes to transportation -- 70 percent. And by the way, so does the second biggest chunk of most families’ budgets goes into transportation. And that’s why one of the best ways to make our economy less dependent on oil and save folks more money is to make our transportation sector more efficient.
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And by the way, the federal government is going to need to lead by example. The fleet of cars and trucks we use in the federal government is one of the largest in the country. We’ve got a lot of cars. And that’s why we’ve already doubled the number of alternative vehicles in the federal fleet. And that’s why today I am directing agencies to purchase 100 percent alternative fuel, hybrid, or electric vehicles by 2015. All of them should be alternative fuel.
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Still, there are few breakthroughs as promising for increasing fuel efficiency and reducing our dependence on oil as electric vehicles. Soon after I took office, I set a goal of having one million electric vehicles on our roads by 2015. We’ve created incentives for American companies to develop these vehicles, and for Americans who want them to buy them.
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And for those of you who are wondering what that means, the thing that’s been holding back electric vehicles is the battery that stores that electricity, that energy. And the more efficient, the more lightweight we can make those batteries, the easier it is to manufacture those cars at a competitive price.
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Today, our homes and businesses consume 40 percent of the energy that we use, and it costs us billions of dollars in energy bills. Manufacturers that require large amounts of energy to make their products, they're challenged by rising energy costs. And so you can’t separate the issue of oil dependence from the issue of how we are producing generally -- more energy generally.
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The nice thing about energy efficiency is we already have the technology. We don’t have to create something new. We just have to help businesses and homeowners put in place the installation, the energy-efficient windows, the energy-efficient lighting. They’ll get their money back. You will save money on your electricity bill that pays for those improvements that you made, but a lot of people may not have the money up front, and so we’ve got to give them some incentives to do that.
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And just like the fuels we use in our cars, we’re going to have to find cleaner renewable sources of electricity. Today, about two-fifths of our electricity come from clean energy sources. But we can do better than that. I think that with the right incentives in place, we can double our use of clean energy. And that’s why, in my State of the Union address back in January, I called for a new Clean Energy Standard for America: By 2035, 80 percent of our electricity needs to come from a wide range of clean energy sources -- renewables like wind and solar, efficient natural gas. And, yes, we’re going to have to examine how do we make clean coal and nuclear power work.
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Now, in light of the ongoing events in Japan, I want to just take a minute to talk about nuclear power. Right now, America gets about one-fifth of our electricity from nuclear energy. And it’s important to recognize that nuclear energy doesn’t emit carbon dioxide in the atmosphere. So those of us who are concerned about climate change, we’ve got to recognize that nuclear power, if it’s safe, can make a significant contribution to the climate change question.
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But more broadly, a clean energy standard can expand the scope of clean energy investments because what it does is it gives cutting-edge companies the certainty that they need to invest. Essentially what it does is it says to companies, you know what, you will have a customer if you’re producing clean energy. Utilities, they need to buy a certain amount of clean energy in their overall portfolio, and that means that innovators are willing to make those big capital investments.
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And we’ve got to start now because -- think about this -- in the 1980s, America was home to more than 80 percent of the world’s wind capacity, 90 percent of the world’s solar capacity. We were the leaders in wind. We were the leaders in solar. We owned the clean energy economy in the ‘80s. Guess what. Today, China has the most wind capacity. Germany has the most solar capacity. Both invest more in clean energy than we do, even though we are a larger economy and a substantially larger user of energy. We’ve fallen behind on what is going to be the key to our future.
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I’ve visited gleaming new solar arrays that are among the largest in the world. I've tested an electric vehicle fresh off the assembly line. I mean, I didn’t really test it -- I was able to drive like five feet before Secret Service said to stop. I’ve toured factories that used to be shuttered, where they’re now building advanced wind blades that are as long as 747s, and they’re building the towers that support them. And I’ve seen the scientists that are searching for the next big breakthrough in energy. None of this would have happened without government support.
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We’re already paying a price for our inaction. Every time we fill up at the pump, every time we lose a job or a business to countries that are investing more than we do in clean energy, when it comes to our air, our water, and the climate change that threatens the planet that you will inherit -– we’re already paying a price. These are costs that we are already bearing. And if we do nothing, the price will only go up.
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So at moments like these, sacrificing these investments in research and development, in supporting clean energy technologies, that would weaken our energy economy and make us more dependent on oil. That’s not a game plan to win the future. That’s a vision to keep us mired in the past. I will not accept that outcome for the United States of America. We are not going to do that.
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Now, if we don’t close this deficit, now that the economy has begun to grow again, if we keep on spending more than we take in, it’s going to cause serious damage to our economy. Companies might be less likely to set up shop here in the United States of America. It could end up costing you more to take out a loan for a home or for a car, because if people keep on having to finance America’s debt, at a certain point they’re going to start charging higher interest rates. We won’t be able to afford investments in education or clean energy, or all the things that we care about because we know it’ll help drive our economy and create jobs.
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Some folks in Washington also want to close the deficit by gutting our investments in things like clean energy or medical research or basic science. That’s not a viable choice. America has always been the world’s engine of innovation and discovery. That’s who we are. That’s how we’ve prospered. I don’t want other countries to lead in the industries of tomorrow. I want new technologies invented here in the United States. I want new solar panels and wind turbines and fuel-efficient cars and advanced batteries all to be made right here in the United States of America. I want us to invent them right here.
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I mean, let’s just take energy as an example. Folks are out there dealing with gas at four bucks a gallon. It’s just another hardship, another burden, at a time when we’re just coming out of a recession and things are already pretty tight for folks. Now, whenever this happens, just like clockwork, you see politicians going in front of the cameras and they’ll say they’ve got a three-point plan for two-buck-a-gallon gas. The truth is, the only real solution to helping families at the pump in the medium and the long term is clean energy. That’s how we’ll save families money. That’s how we’ll reduce our dependence on foreign oil. We’ve got to develop new technologies to lessen our reliance on a fuel that is finite and that we’ve got to import from other countries, including some very unstable parts of the world. And that’s why I think that cutting clean energy investments by 70 percent -- 70 percent, which has been proposed by some in Congress -– would be such a mistake.
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I just mentioned natural gas. We have a lot of natural gas here in this country. The problem is, is that extracting it from the ground -- the technologies aren’t as developed as we’d like and so there are some concerns that it might create pollution in our groundwater, for example. So we’ve got to make sure that if we’re going to do it, we do it in a way that doesn’t poison people.
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MR. ZUCKERBERG: Yes, let’s start off. So let’s start off with the conversation about the debt. So I understand that yesterday morning you had a town hall in Virginia where you talked about your framework not only for resolving the short-term budget issues, but the longer-term debt. And you spent some time talking about tax reform and some cost cutting, but you also spent a lot of time talking about things that you didn’t think that we could cut -- in education, infrastructure and clean energy.
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So, for example, they proposed 70 percent cuts in clean energy. Well, I don't know how we free ourselves from dependence on foreign oil -- and anybody who is paying gas prices knows that there’s an economic component to this as well as an environmental component to it -- if we’re not investing in the basic research and technology that allows solar, wind and others to thrive and develop.
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Let me say this. We lose -- the Treasury loses $4 billion a year on subsidies to oil companies. Now, think about this. The top five oil companies have made somewhere between $75 billion and $125 billion every year for the last five years. Nobody is doing better than Exxon. Nobody is doing better than Shell or these other companies. They are doing great. They are making money hand over fist. Well, maybe Facebook is doing a little better. But you get the idea. They’re doing really well. They don’t need special tax breaks that cost us $4 billion. So what we’ve said is, why can’t we eliminate the tax breaks for the oil companies who are doing great, and invest that in new energy sources that can help us save the planet?
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It hasn’t been that long since Election Day, and we’ve gone through some very, very tough times and we’ve still gotten a lot done. We’ve still been able to get this economy recovering. We’ve still been able to get health care passed. We’ve still been able to invest in clean energy. We’ve still been able to make sure that we overturn “don’t ask, don’t tell.” We still made sure that we got two women on the Supreme Court. We’ve made progress.
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It is great to be back here in Reno, great to be back in Nevada. I am thrilled that all of you are here. We’ve got some special, special people that I want to acknowledge. First of all, I want to thank Electra Therm for hosting us, and John Fox, the CEO of Electra Therm, is here. Stephen Olson, the president and CFO of Electra Therm. Thank you very much. They just had a chance to meet me backstage and they were describing all the great work that they are doing. I am told the contraption behind me here is known as the Green Machine. Produces renewable energy from low-temperature heat waste. And John and Stephen were explaining to me how it works, and I was nodding, pretending like I understood what they were saying. Actually, I have no idea how it works, but I’m glad it does work.
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So we’re going to make some cuts in some programs, including some that I like and if we were in better fiscal shape we’d keep on funding, but I’m telling you what we’re not going to do. We’re not going to reduce our deficit by gutting our investment in clean energy and medical research and basic science. I refuse to make that choice.
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Now, there are some things that we can do right now. Last month I asked my Attorney General to look into any cases of price gouging so we can make sure nobody is being taken advantage of at the pump. Today, I’m going to go a step further. The Attorney General is putting together a team whose job it is to root out any cases of fraud or manipulation in the oil markets that might affect gas prices, and that includes the role of traders and speculators. We’re going to make sure that nobody is taking advantage of American consumers for their own short-term gain.
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The big five oil companies over the last five years, the least they’ve made in profits is $75 billion. The most they’ve made is $125 billion. They are doing fine. And we are encouraging production. We are working to make sure that there are safe and secure ways for us to drill for more oil, develop more natural gas. We are all for production in a safe way. But these folks don’t need further incentives by getting a better deal than the mom-and-pop shop down the street are getting when it comes to their taxes. They shouldn’t get special tax breaks worth $4 billion that we could invest someplace else. That doesn’t make sense. It’s got to stop.
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Instead of subsidizing yesterday’s energy sources, let’s invest in tomorrow’s. Some in Congress have proposed slashing by 70 percent our investment in clean energy. I’m not going to do that. I was talking to John about the fact that the investment made by the Department of Energy helped Electra Therm do what it’s doing -- helped it expand, helped it hire more workers. Why are we going to stop making investments in companies like this?
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So that’s the bottom line. We need to cut spending. We can’t ignore future deficits. But just as ignoring deficits would mortgage our future, failing to invest in our kids, in our infrastructure, in our basic research and clean energy, that would be mortgaging our future as well. And I’m not willing to do it. And that’s at the core of the debate that we’re having right now.
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When it comes to electricity, the traditional sources that we get electricity from are coal, natural gas, and some nuclear. That’s typically the menu from which we get most of our electricity production at most of the big utilities. And the advantage, particularly of coal, is that it’s been very cheap. We are the Saudi Arabia of coal. We’ve got a lot of coal.
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But each of these fossil fuels that we use have some problems, particularly with pollution. And coal, in particular, in some of these old plants create a lot of particulates that go into the atmosphere and create all kinds of problems in terms of asthma, and it’s also having an impact on the climate overall.
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But when you think about what’s going to be sort of our future electricity sources, I want to make sure that we are also the frontrunners, the leaders, when it comes to solar, when it comes to wind, when it comes to waste heat -- geothermal, right? So there are a whole range of additional energy sources that we’re just not tapping into, and that’s what a company like Electra Therm is all about.
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So one of the things that we’ve proposed is what’s called a clean energy standard. It’s a very simple concept. What it says is, the country, state by state, will purchase a certain amount of energy from these alternative sources. So we’re not saying that immediately you shut down the old plants, because, frankly, we couldn’t. I mean, the economy needs a certain amount of electricity just to run our businesses and do everything that we do. But if we set a target and we say here’s the amount of alternative energy that is going to be purchased every year, then suddenly all these companies out here start saying, you know what, I’ve got some certainty. I know that if I invest in building a new plant that I’m going to be able to sell that electricity.
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And that changes the economic incentives, and then the market can sort out which ones are the best -- who’s got the best company, who’s got the best technologies, et cetera. It’s not the government saying -- picking winners and losers, it’s just saying get a certain amount from this option, this array of options of clean energy. That can make a huge difference.
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So one of the things that we’re doing, both for homeowners, but also increasingly for commercial buildings, we want to give you some incentives where we say, you know what, you buy that insulation, you make your home more energy efficient, we’ll give you a tax break. Or we say to companies, you’re going to make your building more energy efficient, we will give you some money on the front end and then you can pay it back by the savings that you get on your electricity bill every month. So a combination of creating a market for clean and alternative energy, and also providing incentives to consumers to be more energy efficient -- you combine those two things, there’s no reason why we can’t have a brighter energy future. But it does require some investment from the federal government. That’s why I’m not willing to see our investment in clean energy slashed by 70 percent, and that’s part of the debate that we’re having in Washington right now. All right?
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I could not be prouder of our track record over the last two and a half years. But yanking this country out of a great depression, passing historic health care laws so that people who are bankrupt -- people who are sick don’t have to go through bankruptcy in order to pay their medical bills -- making sure that "don’t ask, don’t tell" was finally repealed, making sure that we’ve got two women on the Supreme Court -- and one of them is the first Latina on the Supreme Court -- making sure that we made the largest investment in clean energy and education and infrastructure in our history. I could not be prouder of those achievements. But we’ve got so much more work to do.
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Is it a vision of America that is big and ambitious and generous and says we’re going to invest in clean energy, and we are going to invest in our kids’ college educations, we’re going to invest in math and science education because we know that innovation is going to be the key to the 21st century? And we’re going to invest in our infrastructure because we want to make this a great country to do businesses, and we understand that means moving goods and services and people and information efficiently around the country?
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And along the way, we did a few other things: The largest investment in clean energy in our history. The largest investment in science and basic research that we had seen in years. Largest investment in our infrastructure since Dwight Eisenhower built the Interstate Highway System.
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Yes, because of you, we’ve made the largest investments in clean and renewable energy in our history. And those are already creating jobs and new businesses. But high gas prices are killing folks out there -- killing you. You know. It’s rough. You say, “it’s just really rough.”
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And so we’ve got to keep making investments in clean energy. We’ve got to strive for energy independence in this country. We’ve got to invest in solar and wind and electric cars, and it’s time we stopped giving the oil companies $4 billion in taxpayer subsidies -- take that money and put it into clean energy.
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Because of all of you, we’ve put hundreds of thousands of people to work rebuilding our infrastructure. But now we’ve got to make sure that we’re built to compete in the 21st century. Not just new roads and new bridges, but high-speed rail and high-speed Internet. A smart grid to make sure that we can move all that clean energy all across the country.
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But let me tell you something. I will not reduce our deficit by sacrificing the things that have always made America great. The things that have made Americans prosper. I won’t sacrifice our investments in education. I will not sacrifice those. I won’t sacrifice our investments in science and basic research. I won’t sacrifice the safety of our highways or our airports. I won’t sacrifice our investment in clean energy at a time when our dependence on foreign oil is causing Americans so much pain at the pump. I will not sacrifice America’s future. That I will not do.
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So not only did we make the biggest investment in education that the federal government has ever made, not only did we make the biggest investment in clean energy in our history, not only did we make the biggest investment in infrastructure since Dwight Eisenhower built the Interstate Highway System, not only did we put the most money in basic research in our history, but we passed a health care bill that finally began to deliver on the promise of universal health care, something we’d been trying to do for a hundred years.
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And then there’s the environmental aspect of it. There are climate change deniers in Congress and when the economy gets tough, sometimes environmental issues drop from people’s radar screens. But I don’t think there’s any doubt that unless we are able to move forward in a serious way on clean energy that we’re putting our children and our grandchildren at risk.
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We have increased oil production, but more importantly we’ve also said to ourselves how are we going to find the kinds of alternative energy sources, the new energy sources that will reduce our dependence on foreign oil but also clean up the planet in the process. That’s something we need to invest in.
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But let me tell you what I won’t do. I will not reduce our deficit by sacrificing the things that have always made America great. The things that have made Americans prosper. I will not sacrifice our investment in education. I won’t sacrifice scholarships for our students or medical research for our scientists. I won’t sacrifice the safety of our highways or our airports. I will not sacrifice our investment in clean energy at a time when our dependence on foreign oil is causing Americans so much pain at the pump. I won’t sacrifice clean air and clean water. I will not sacrifice America’s future.
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Because of you, we made the largest investment in clean energy in our history. And that’s already changing how jobs and businesses across the country are thinking about energy. We’re creating new businesses, advanced battery manufacturing, and plants building wind turbines and solar panels. But at a time when gas prices are --
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We’ve got a lot more work to do to have an energy policy that works. We’re going to have to keep on making those investments. And by the way, we can afford them. You know, for $4 billion, we could do an awful lot. And you know where we could get $4 billion is by ending taxpayer subsidies we give to oil companies and gas companies. That’s profits coming from your pocket into their pocket. They’re making enough profit. We should be investing in the energy of the future, not yesterday’s energy.
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We need to finally break the cycle of one energy crisis after another, and start getting on the path of real -- a real energy policy that frees ourselves from dependence on foreign oil and cleans up the planet in the process. We’ve got to leave America better than we found it, and we’re not done yet.
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We’re not going to pull up the ladder behind us. I’m not going to reduce our deficit by sacrificing the things that always made up great as a people. I’m not going to sacrifice investments in education. I’m not going to make scholarships harder to get and more expensive for young people. I’m not going to sacrifice the safety of our highways or our airports. I’m not going to sacrifice clean air and clean water. I’m not going to sacrifice clean energy at a time when we need to free ourselves from dependence on foreign oil, and folks are getting killed at the pump. I’m not going to sacrifice America’s future.
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We imagine a big America where we’re investing in the same kind of science that invented the Internet. We want to invent the next big energy breakthrough that is going to make sure that we’re no longer dependent on foreign oil, and we can start finally doing something about climate change, and we’re not vulnerable to huge spikes in gasoline prices. We want that transformation starting here in the United States of America.
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Distinguished. That's the word I’m looking for. Distinguished. And we’ve had some setbacks, and some things haven’t happened as fast as people wanted them to happen. I know. I know the conversations you guys have. Oh, you didn’t get the public option and -- gosh, I wish that energy bill had passed. I understand the frustrations. I feel them, too.
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Class of 2011, you and your generation are now responsible for our future. I’m only going to be President a little bit longer. You are going to be leaders for many years to come. You will have to make choices to keep our dream alive for the next generation. Choices about whether we’ll stack the deck against workers and the middle class, or whether we make sure America remains a place where if you work hard you can get ahead. You’re going to have to make a choice about whether we’ll say we can’t afford to educate our young people and send them to college, or whether we continue to be a country that makes investments that are necessary to keep those young people competitive in this new century. It will be up to you to choose whether we’ll remain vulnerable to swings in oil prices or whether we invest in the clean energy that can break our dependence on oil and protect our planet. It will be your choice as to whether we break our promise to seniors and the poor and the disabled and tell them to fend for themselves, or whether we keep strengthening our social safety net and our health care system.
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But I’d just make this point, as well. As well as the military pressure, don’t underestimate the pressure of building up the opposition, the contacts we have with the National Transitional Council, the fact that they are opening offices and building support and strength from the allies. Don’t underestimate the extent to which we’re now cutting off oil products to the regime because they’re using them in their tanks and their other military equipment -- and also the other steps that I know Americans and others are taking to try and release Libyan assets back into the hands of the National Transitional Council and recognizing them as the right interlocutor for us to speak to.
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And my second question is how do you see the cooperation in the area of energy security between Poland and America, and between America and the European Union? And my third, last question is did you talk about political repressions in Belarus, and as far as the arrest of journalist of Gazeta Wyborcza, Andrezej Poczobut?
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As I mentioned earlier, we had an extensive discussion about both shale gas and nuclear power. I think Prime Minister Tusk and I both believe that it is important for us to diversify our energy sources. The United States doesn't want to be energy-independent [sic] on anybody. And Poland doesn’t want to be energy-dependent on anybody. And what that means is that there has to be a broad set of energy approaches.
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With respect to nuclear power, similarly, we have to do it in a way that is safe and secure. Obviously, all of us are mindful of what happened in Japan. And we have a great track record and enormous expertise in the United States of developing nuclear power in a way that is safe and secure. And we are happy to consult with the Polish government, and have our companies consult with the Polish government, in terms of how to approach that.
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And shale gas -- well, for obvious reason, it was a subject of important talks -- and nuclear power. We agreed with President Obama that these undertakings are really an excellent area for Polish-American cooperation. And I am sure that it will bring good results. To the Polish people, American people, it will be both joint business and joint common energy security. And it will also be of use to a united Europe, this cooperation that will also give to Europe more stability in terms of energy.
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Of course, in the years ahead, a key to achieving our export goal will be promoting clean energy in America. It’s how we’ll reduce our dependence on foreign oil. And that’s how we’ll encourage new businesses and jobs to take root on our shores. John understands this better than virtually anybody. Throughout a distinguished career in which he’s led nonprofits, government agencies, and large companies, he’s been a fierce proponent of alternative energy.
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Later, in the private sector, he rose to become the Chairman and CEO of Edison International, one of the nation’s largest utility companies. John headed the company for almost 20 years, during which time he helped Edison become a leader in solar and wind power, and innovative approaches to proving the profitability of clean energy. Just before he retired from the company, he launched a plan to turn 65 million square feet of unused commercial rooftops into solar power stations, the largest array in the country, with enough electricity for more than 160,000 homes.
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We can’t stop medical research being done by our scientists. We can’t stop building the infrastructure that made this country great. I’m not going to sacrifice clean energy at a time when our dependence on foreign oil has caused Americans so much pain at the pump. That doesn't make any sense. In other words, I will not sacrifice America’s future.
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When I was elected -- I think back to 2008 and Grant Park, and it was a beautiful night -- I said to people, this is not the end, this is the beginning, and that we were going to have a steep hill to climb. I had gotten into the race because of this profound belief in America, but also because there was a huge gap between what I thought America could be and where we were. That we had seen a decade where incomes and wages had stagnated. We had seen the absence of any coherent energy policy that would free ourselves from dependence on foreign oil and help to clean up the planet. Our education system -- there was a lot of talk about reforming it, but we hadn’t made the kind of progress that would allow us to be competitive in the 21st century.
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Small businesses that have still not recovered from what happened during the recession. There is enormous anxiety from a lot of folks about our debt and our deficits, and how we start living within our means but still making the investments in clean energy and education and infrastructure that are so vital to us remaining competitive.
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We had kicked the can down the road for too long on critical issues like having an energy policy that would allow us to free ourselves from our dependence on foreign oil, and would allow us to clean up the environment and make sure that the new jobs of the future were created right here in the United States of America.
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And we expanded national service for young people so they could participate and contribute into the building of America. We made the largest investment in clean energy in our history and the largest investment in education. And we changed the student loan system so that we weren’t given billions of dollars to banks, but we were giving them directly to students.
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And some of the big projects that we set for ourselves during the campaign have not yet been done. We still don’t have an energy policy that is suitable for the 21st century. We still have to invest in clean energy, that solar panels and wind turbines are built right here in this country, and electric cars are built right here in the country -- and we are focused not on the energy sources of the past, but the energy sources of the future. We still have that project to deal with climate change in a serious way. Those things haven’t changed.
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Remarks by the President on the Critical Role the Manufacturing Sector Plays in the American Economy
That’s why I ran for President -- to get us where we need to be. I ran because I believe in an America where working families aren’t just treading water but they’re moving forward, and where our businesses lead the change on new technologies like clean energy and advanced manufacturing of the sort you’re doing right here at this plant.
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Remarks by the President on the Critical Role the Manufacturing Sector Plays in the American Economy
And a big part of that, a big part of our future has to be a robust and growing manufacturing sector. We’ve got to make things right here in America. We’ve always made things here in America. It’s in our blood. This plant has been in operation for 60 years. And what you’ve learned is that if you want to beat the competition, then you’ve got to innovate. You’ve got to invest in new skills, you’ve got to invest in new processes, you’ve got to invest in new products. I was just learning that some of the equipment right behind us -- this was a huge investment. How much did you guys -- $90 million. Think about that. That’s what made you guys competitive, having the best workers but also having the best equipment. You had to up your game. And that’s what we’ve got to do as a country as a whole. I want the cars and planes and wind turbines of the future to bear the proud stamp that says “Made in America.” That’s what I want.
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We have to have an energy policy in this country. We still don’t have one, which is why so many people around the country are so vulnerable to changes in the price of oil. And so what we’ve done through the Recovery Act and through clean energy programs all across the country is making sure that clean energy jobs are created here in the United States and we’re starting to create a more efficient transportation sector so that we can start weaning ourselves off of dependence on foreign oil.
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And a lot of people don’t realize that even without legislation last year, we raised fuel-efficiency standards on cars for the first time in 30 years, and we’re going to do it again. But reversing our energy policy and making it smart in a way that not only saves people’s dollars but also helps save the planet, that’s not a two-year project. That’s a multiyear project.
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And so some of those decisions were tough. And you remember, we got criticized a lot. But you take a look at what’s happened. Some folks didn’t want us getting involved in the auto industry -- I didn’t expect to be the CEO of a car company when I ran for President. But as a consequence of what we did, we saved jobs. We saved American manufacturing. We cut taxes for middle-class families. We ended subsidies to the banks for student loans, to make college more affordable. We made sure -- that’s why I signed a bill to make sure there was equal pay for equal work, because I’ve got two daughters and I want to make sure they’re treated just the same as the boys are. That’s why we’re promoting manufacturing and homegrown American energy -- because that’s what will lead to jobs that pay a decent salary. I want the wind turbines and the solar panels and the electric cars to be built right here in America.
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Neither party is blameless for the decisions that led to this problem, but both parties have a responsibility to solve it. If we don’t solve it, every American will suffer. Businesses will be less likely to invest and hire in America. Interest rates will rise for people who need money to buy a home or a car, or go to college. We won’t have enough money to invest in things like education and clean energy, or protect important programs like Medicare, because we’ll be paying more and more interest on this national debt and that money just flows overseas instead of being spent here on the things that we need.
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Now, here’s the thing, though -- and this is what the argument is about -- we can’t just close our deficit with spending cuts alone, because if we take that route it means that seniors would have to pay a lot more for Medicare, or students would have to pay a lot more for student loans. It means that laid-off workers might not be able to count on temporary assistance or training to help them get a new job. It means we’d have to make devastating cuts in education and medical research and clean energy research -- just at a time when gas prices are killing people at the pump.
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And it’s why I’ve said if we’re going to reduce our deficit, then the wealthiest Americans and the biggest corporations should do their part as well. Before we stop funding clean energy research, let’s ask oil companies and corporate jet owners to give up the tax breaks that other companies don’t get. I mean, these are special tax breaks. Before we ask college students to pay more for their education, let’s ask hedge fund managers to stop paying taxes that are lower on their rates than their secretaries. Before we ask seniors to pay more for Medicare, let’s ask people like me to give up tax breaks that we don’t need and we weren’t even asking for.
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But we can’t just close our deficits by cutting spending. That’s the truth, and Americans understand that. Because if all we all do is cut, then seniors will have to pay a lot more for their health care, and students will have to pay a lot more for college, and workers who get laid off might not have any temporary assistance or job training to get them back on their feet. And with gas prices this high, we’d have to stop much of the clean energy research that will help us free ourselves from dependence on foreign oil.
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And that’s why people from both parties have said that the best way to take on our deficit is with a balanced approach –- one where the wealthiest Americans and big corporations pay their fair share, too. Before we stop funding energy research, we should ask oil companies and corporate jet owners to give up special tax breaks that other folks don’t get. Before we ask college students to pay more to go to college, we should ask hedge fund managers to stop paying taxes that are lower in terms of rates than their secretaries. Before we ask seniors to pay more for Medicare -- before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks that we don’t need and weren’t even asking for.
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So I’ve laid out an energy strategy that would do that. In the short term, we need to increase safe and responsible oil production here at home to meet our current energy needs. And even those who are proponents of shifting away from fossil fuels have to acknowledge that we’re not going to suddenly replace oil throughout the economy. We’re going to need to produce all the oil we can.
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Those are all short-term solutions, though. In the long run, we’re going to have to do more. We’re going to have to harness the potential of startups and clean energy companies across America. We’re going to need to build on the progress that I’ve seen in your factories, where workers are producing hybrid cars and more fuel-efficient engines and advanced electric vehicles. We need to tap into this reservoir of innovation and enterprise.
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And just as cars will go further on a gallon of gas, our economy will go further on a barrel of oil. In the next 15 years, we’re going to reduce the amount of oil we need by 2.2 million barrels per day. And this will help meet the goal that I’ve set for America: reducing our dependence on foreign oil by one-third.
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Now, just as the interstate highways knitted the country together 50 years ago, we’ve also got to do some new things to meet the challenges of the 21st century. We need to expand the reach of broadband, high-speed Internet, to 7 million more people and hundreds of thousands of businesses in rural communities. And by taking that step, it’s making it possible for folks to take classes and train for new jobs online. It’s helping people sell goods, not just down the street but across the country and around the world. We’ve invested in clean energy, like advanced biofuels, so that we’re moving from an economy that runs on foreign oil to one that runs on homegrown America energy. That’s a whole new industry that’s taking root here in Iowa and across rural America.
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So today, I’m announcing that we’re ramping up our efforts to get capital to small businesses in rural areas. We’re doubling the commitment we’ve already made through key small business lending programs. We’re going to make it easier for people in rural areas looking for work to find out about companies that are hiring. We're going to do more to speed the development of next-generation biofuels, and we’re going to promote renewable energy and conservation. We’re going to help smaller local hospitals in communities like this one to recruit doctors and the nurses that they need. And those are just some of the things that we’re already announcing today. The reason we brought you all together is because I’m looking forward to hearing from you about what else we can do to jumpstart the economy here in rural America.
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Second of all, this issue of energy innovation I think is absolutely vital for rural communities, but for the entire country. If we can harness homegrown fuels -- whether it’s biofuels, wind, solar, geothermal, you name it -- then I think it can generate hundreds of thousands of jobs all across the country. It can help free ourselves from dependence on foreign oil. It diversifies sources of income for farmers. I’m not telling you guys anything that you don’t already know.
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This morning I had breakfast with somebody who has not only been interested in wind power because their family got involved in it 77 -- back in 1977, but are now -- have figured out a new technology to help locate where farm -- wind farms would ideally be located and have started a whole new business because they see the incredible potential of clean energy throughout this country.
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We were on the verge of going into a Great Depression, and we were able to yank ourselves out. The economy is now growing again. Over the last 17 months we’ve created over 2 million jobs in the private sector. We saved an auto industry that was on the brink. We have -- we’ve made investments in clean energy, in rebuilding our roads and our bridges.
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I will say that the more we see the science, the more we want to find ways to diversify our biofuels so that we’re not just reliant on corn-based ethanol. Now, we can do more to make corn-based ethanol more efficient than it is, and that’s where the research comes in. And there are some wonderful research facilities in our own University of Illinois system that have done a lot to advance the science on this.
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And so hopefully your grandfather, with his ethanol plant, is starting to work with our Department of Agriculture to find new approaches to the biofuel industry. But this is a huge area of support. This is another example of where we’ve got to make sure that our budget continues to invest in basic research, and that costs money. And if all we’re doing is cutting and we’re not thinking about investments, then over time we’re going to fall behind to countries like Brazil, where they’ve already got a third, I think, of their auto fleet operates on biofuels. Well, that’s -- there’s no reason why we should fall behind a country like Brazil when it comes to developing alternative energy. I want to be number one in alternative energy, and that’s good for the farm economy.
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Now, this is about priorities. It’s about making choices. If we just had all kinds of money and everybody was working, and we hadn’t gone through the worst financial crisis since the Great Depression, then maybe we wouldn’t have to make choices. But right now we’ve got to make some choices. We’ve got to decide what our priorities are. If we want to pay for this jobs plan, and close the deficit, and invest in our infrastructure, and make sure we’ve got the best education system in the world, the money has got to come from some place. Would you rather that the oil companies get to keep their tax loopholes?
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Domestically, we still have a lot more to do to heal this economy and to deal with some of the structural problems that existed even before the financial crisis hit. We still don’t have an energy policy in this country that will free ourselves from dependence on foreign oil, and can also generate new jobs in a new clean energy space.
We still don’t have the kinds of trade strategies that will open ourselves up to new markets, but make sure that we’ve got trade that’s fair, between ourselves and particularly the growing markets in the Pacific and the Asia region. We still have enormous challenges because middle-class families have not seen their wages and their incomes rise for the last 20 years, even as those of us at the very top have seen an extraordinary explosion in our wealth and our incomes.
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So would you rather keep tax loopholes for oil companies? Or would you rather put construction workers and teachers back on the job? Would you rather keep tax breaks for millionaires and billionaires -- or do you want to invest in medical research and new technology? Should we ask our seniors to pay thousands of dollars more for their Medicare -- or should we ask the most profitable corporations to pay their fair share?
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It hasn’t just been about "me first." There's always been a running thread that says we're all connected, and that there are some things that we can only do together as a nation. It's obvious when we think of our collective defense, and we think about the fire service, or when we think about the military. But it's also true when it comes to our schools. It's also true when it comes to protecting our natural resources. That's why Presidents like Lincoln and Eisenhower -- two Republicans -- invested in railroads and highways and science and technology. It's why this country gave millions of returning heroes -- including my grandfather -- the chance to study through the G.I. Bill. It's the reason that Michelle and I had the chance to succeed beyond our wildest dreams -- because not only did we have great parents and grandparents, but we also had the ability to get student loans. We also had this opportunity that the country gave us.
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Over the last two and a half years, even as we’ve been grappling with this economy, even as we’ve been saving the auto industry and making sure that we’ve got an energy policy that makes sense, we've still have been trying to make sure that we’re also dealing with some of the long-term problems that have been building up for decades. And we’ve got more work to do. We’re not yet finished.
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That means we have to build on the education reforms that we’ve already initiated to make college more affordable. We still have not done enough to have an energy policy that frees ourselves from dependence on foreign oil. We’ve done a lot. We’ve doubled fuel efficiency standards on cars -- probably the biggest impact in environmental action over the last 30 years. But we’re still wasting too much energy that we can’t afford to waste in this new environment.
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And we talked, when I was running, about what some of those challenges were. We knew that we were going to have to create an energy policy that would not only free ourselves from dependence on foreign oil, but also start changing how we think about the planet and how we think about climate. We knew that we were going to have to make sure that we changed our health care system that was broken, leaving millions of people without health insurance and leaving folks who did have health insurance less secure than they needed to be. We knew that we were going to have to get control of our federal budget, but do so in a way that ensured that we could still make the core investments in infrastructure and basic research and education that are so vital for us winning the future. We knew that we were going to have to not only put more money into our education system, but we were going to have to revamp it so that not just a few of our kids are prepared for the 21st century, but all of our kids are prepared for the 21st century.
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The American people are going through a very tough time. This is a big transition -- and by the way, it's not unique to America. This is a global shift that's taking place. We've got a world that has shrunk and is interconnected and is more competitive than ever. And every country out there is trying to adjust and trying to figure out, how do we make sure we've got the best educated citizens, and how do we make sure we've got the most dynamic, innovative economy, and how are we making sure that we're investing in industries of the future, like clean energy, and how do we make certain that in our international affairs we're projecting power not just based on our military but also based on our diplomacy and the power of our ideas.
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Ultimately, Colorado, this comes down to choices and it comes down to priorities. If we want to pay for this jobs plan, put people back to work, close this deficit, invest in our future, then the money has got to come from somewhere. And so my question is: Would you rather keep tax loopholes for oil companies? Or do you want construction workers to have a job rebuilding our schools and our roads and our bridges?
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We need to work short term and we’re going to need to work long term. Because, after we pass this jobs bill, we’re still going to have work to do. We’re still going to have to reform our education system. We’re still going to have to make sure that we’ve got an immigration system in this country that is fair -- and, yes, secures our borders, but also makes sure that folks who are here aren’t living in the shadows. We’ve still got to make sure that we have an energy policy that is smart for our pocketbooks and frees ourselves from dependence on foreign oil -- and make sure that we’re doing something about climate change.
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We discussed the world economy, and we shared our intentions to work closely with our European partners to stabilize the eurozone area, but also to make sure that we are all participating in creating a system in which free trade, in which coordinated commercial practices, in which our focus on growing the economy, issues like energy security all involve close coordination between our two countries. And we very much appreciate the partnership there.
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We’re going to have to have an energy policy in this country that makes sense -- because I am tired of the U.S. economy being held hostage to the spot oil market. We’ve got to develop clean energy that will not only put money back in the pocket of consumers -- but will also save our environment.
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And on student loans and school reform and on a whole host of issues that don’t get a lot of attention -- on doubling fuel efficiency standards on cars and trucks to not only free ourselves from dependence on foreign oil, but also to start reducing carbon in the atmosphere and making us more competitive, to saving the auto industry -- I keep a checklist in my desk of stuff that I promised to do and we're through about 60 percent of it -- which isn’t bad for three years.
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We had a health care system that was broken. We have an energy policy that leaves us subject to the whims of the world oil market. We had a Washington that seemed less and less responsive to those values and ideals that we believe in so deeply. And this was all before the worst economic crisis and the worst financial crisis since the Great Depression.
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So that’s what we’re up against. We’re going to have to fight for jobs. We’re going to have to fight to have the kind of energy policy that makes sure that we’re freeing ourselves from dependence on foreign oil. We are going to have to fight to make sure that we’re continuing to improve our schools all across the country. And yes, we are going to have to fight to make sure that immigration reform is a reality in this country.
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And today, even though we’ve got a hard road to travel, we can look back on the change that we’ve made over the past three years with enormous pride. Change is the first bill I signed into law that says in this country an equal day’s work gets an equal day’s pay -- because our daughters need to have the same opportunities as all of our sons get.
Change is not just pulling this economy out of the possibilities of a Great Depression and stabilizing and making sure we didn’t have a financial meltdown, but it’s also making sure that we restored the American auto industry so that it is more profitable than it’s been in a decade. And, by the way, it’s profitable making cars that are more fuel-efficient than ever before. And we’ve now doubled fuel-efficiency standards on cars and trucks, which is going to take carbon out of our atmosphere and make us less dependent on foreign oil. That’s change that you produced. That’s what change looks like.
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We still don't have all the energy policies in place that we need to free ourselves from dependence on foreign oil and adequately deal with climate change, despite the fact that we've doubled fuel economy standards on cars and made enormous progress on clean energy -- and that means that I'm going to need another term to finish the job.
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In today’s innovation economy, we also need a world-class commitment to science and research, the next generation of high-tech manufacturing. Our factories and our workers shouldn’t be idle. We should be giving people the chance to get new skills and training at community colleges so they can learn how to make wind turbines and semiconductors and high-powered batteries. And by the way, if we don’t have an economy that’s built on bubbles and financial speculation, our best and brightest won’t all gravitate towards careers in banking and finance. Because if we want an economy that’s built to last, we need more of those young people in science and engineering. This country should not be known for bad debt and phony profits. We should be known for creating and selling products all around the world that are stamped with three proud words: Made in America.
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It will evolve over time. What may be discovered is, is that there are certain issues that Prime Minister Maliki and his government think are especially important right now -- for example, making sure that oil production is ramped up, and we are helping to encourage global investment in that sector.
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And nowhere is the promise of innovation greater than in American-made energy. Over the last three years, we’ve opened millions of new acres for oil and gas exploration, and tonight, I’m directing my administration to open more than 75 percent of our potential offshore oil and gas resources. Right now -- right now -- American oil production is the highest that it’s been in eight years. That’s right -- eight years. Not only that -- last year, we relied less on foreign oil than in any of the past 16 years.
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We have a supply of natural gas that can last America nearly 100 years. And my administration will take every possible action to safely develop this energy. Experts believe this will support more than 600,000 jobs by the end of the decade. And I’m requiring all companies that drill for gas on public lands to disclose the chemicals they use. Because America will develop this resource without putting the health and safety of our citizens at risk.
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The development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don’t have to choose between our environment and our economy. And by the way, it was public research dollars, over the course of 30 years, that helped develop the technologies to extract all this natural gas out of shale rock –- reminding us that government support is critical in helping businesses get new energy ideas off the ground.
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Now, what’s true for natural gas is just as true for clean energy. In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries. Because of federal investments, renewable energy use has nearly doubled, and thousands of Americans have jobs because of it.
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We’ve subsidized oil companies for a century. That’s long enough. It’s time to end the taxpayer giveaways to an industry that rarely has been more profitable, and double-down on a clean energy industry that never has been more promising. Pass clean energy tax credits. Create these jobs.
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We can also spur energy innovation with new incentives. The differences in this chamber may be too deep right now to pass a comprehensive plan to fight climate change. But there’s no reason why Congress shouldn’t at least set a clean energy standard that creates a market for innovation. So far, you haven’t acted. Well, tonight, I will. I’m directing my administration to allow the development of clean energy on enough public land to power 3 million homes. And I’m proud to announce that the Department of Defense, working with us, the world’s largest consumer of energy, will make one of the largest commitments to clean energy in history -– with the Navy purchasing enough capacity to power a quarter of a million homes a year.
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Of course, the easiest way to save money is to waste less energy. So here’s a proposal: Help manufacturers eliminate energy waste in their factories and give businesses incentives to upgrade their buildings. Their energy bills will be $100 billion lower over the next decade, and America will have less pollution, more manufacturing, more jobs for construction workers who need them. Send me a bill that creates these jobs.
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It’s an economy built on American manufacturing, with more good jobs and more products made right here in the United States of America. It’s an economy built on American energy, fueled by homegrown and alternative energy sources that make us more secure and less dependent on foreign oil. And by the way, there’s a connection between those two things. This company right here, some of its key customers are folks who are active in alternative energy. There are jobs to be had -- and Iowa knows all about it -- when we are pursuing aggressively clean energy and alternative energy.
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And last night, at the State of the Union, I laid out a vision of how we move forward. Laid out a blueprint for an economy built to last. It’s an economy built on the American manufacturing, with more good jobs and more products made in America. It’s an economy built on American energy fueled by homegrown and alternative energy sources that make us more secure and less dependent on foreign oil. It’s an economy built on the skills of American workers, getting people the education and the training they need so they’re prepared for the jobs of today and ready to compete for the jobs of tomorrow.
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We’re also going to need to look at clean energy and innovation in the energy field. We have -- as I said last night, oil production is higher than it's been in eight years. We're actually importing less oil as a percentage than any time in the last 16 years. So we're opening up the oil and the gas industry here in the United States. But they don't need subsidies. We need to stop subsidizing oil companies, and use that money to invest in clean energies like wind and solar and high-tech batteries. Those are industries that are already creating new jobs and making us even less dependent on foreign oil.
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But in the longer run, we’re going to have to both invest in our future -- invest in education so we're producing more engineers, invest in clean energy, invest in our infrastructure -- and we have to do all this at the same time as we've got to get our fiscal house in order. And that means we've got to make choices.
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Third, let’s make sure all these new trucks that are running on natural gas have places to refuel. That’s one of the biggest impediments, is the technology. We know how to make these trucks, but if they don’t have a place to pull in and fill up, they got problems.
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And finally, to keep America on the cutting edge of clean energy technology, I want my Energy Secretary, Steven Chu, to launch a new competition that encourages our country’s brightest scientists and engineers and entrepreneurs to discover new breakthroughs for natural gas vehicles.
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Last year we relied less on foreign oil than any time in the past 16 years. Hasn’t gotten a lot of attention, but it’s important. We’re moving in the right direction when it comes to oil and gas production.
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The same promise is true for clean energy. Because of federal investments, renewable energy use -- sources like wind and solar -- has nearly doubled. Thousands of Americans have jobs because of those efforts.
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What does it mean? It means that the world’s largest consumer of energy -- the Department of Defense -- is making one of the largest commitments to clean energy in history. That will grow this market, it will strengthen our energy security.
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It’s an economy built on American energy, fueled on homegrown and alternative energy sources that make us more secure and less dependent on foreign oil, which obviously is not just good for our prosperity but also for our security. We all know that. It’s an economy built on the skills of American workers -- getting people the education and the training that they need so that they’re prepared for the jobs of today and ready to compete for the jobs of tomorrow.
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Now, today we’ve been focusing on American energy. For all our lives, America has been talking about decreasing our dependence on foreign oil. I’ve been hearing it -- I’m older than most of you guys -- I’ve been hearing it all my life. Well, my administration has actually tried to do something about it.
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Over the last three years, we negotiated the toughest new efficiency standards for cars and trucks in history. That will save us and consumers billions of gallons of gas and a lot of money. We’ve opened millions of new acres for oil and gas exploration here in the United States. Right now, American oil production is the highest it’s been in eight years. Eight years.
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So this morning I was in Nevada talking about how natural gas is a enormous energy source for the United States. We are the Saudi Arabia of oil -- or Saudi Arabia of natural gas. We’ve just got to develop it, and if we do effectively, then we’re going to create jobs and it’s going to power trucks that are cleaner and cheaper and factories that are cleaner and cheaper.
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So as I said on Tuesday, I’m not going to walk away from the promise of clean energy. We’re not going to cede the wind industry or the solar industry or the battery industry to China or Germany because we’re too timid to make that same commitment here in the United States. We subsidized oil for a very long time, long enough. It’s time to stop giving taxpayer giveaways to an industry that’s never been more profitable. We’ve got to double down on a clean energy industry that’s never been more promising, and Congress is going to need to act.
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So this is common sense. But we’re not going to wait for Congress. We’re also going to do some things administratively. It’s why I’m directing my administration to allow the development of clean energy on enough public lands to power 3 million homes. And the reason we’re at Buckley is because the military is doing its part. The military is doing its part, as usual. As usual. Now, it’s important for the military to do its part because we’re the largest -- our military is the largest energy consumer in the world. So we can set a good example and help create an additional market for clean energy. The Navy is going to purchase enough clean energy capacity to power a quarter of a million homes a year. And it won’t cost taxpayers a dime.
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And I promise you, the Department of Defense is not just embracing clean energy because it feels good. We got some tough-minded folks. Our number-one priority is always the security of this nation. But what our military understands is that if we’re smart on energy, that saves DOD budgets that allow them to do a whole bunch of other things.
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Ray Mabus has said, “We wouldn’t allow some of the places that we buy fossil fuels from to build our ships or to build our aircrafts, to build our ground equipment. We wouldn’t do that. And yet we give them say on whether those ships sail, or whether those aircrafts fly or whether those vehicles run, because we buy fuel from them.” Why would we do that if we don’t have to? The less we depend on foreign oil, the more secure we become as a nation.
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The rest of the military -- including here at Buckley -- is doing its part as well. In 2010, you started installing thousands of solar panels here on the base. That same year, the Air Force flew an A-10 Thunderbolt entirely on alternative fuels, a first for the military. Overall, the Air Force is on track to save $500 million in fuel costs over the next five years because you guys have changed the way you operate. Think about that -- half a billion dollars. That’s worth clapping.
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That’s the economy we want, an economy built on American manufacturing with more good jobs and more products made here in the United States of America. An economy built on American energy, fueled by homegrown and alternative sources that make us more secure and less dependent on foreign oil. An economy built on the skills of American workers, getting people the education and the training they need to prepare for the jobs of today, but also to compete for the jobs of tomorrow.
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Now, part of my blueprint and what I want to focus on a little bit today is for an economy built to last with American energy. That’s why we’re here. For decades, Americans have been talking about how do we decrease our dependence on foreign oil. Well, my administration has actually begun to do something about it.
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Over the last three years, we negotiated the toughest new efficiency standards for cars and trucks in history. We’ve opened millions of new acres for oil and gas exploration. Right now, American oil production is the highest that it’s been in eight years. Eight years. Last year, we relied less on foreign oil than in any of last 16 years. That hasn’t gotten a lot of attention, but that’s important. We’re moving in the right direction when it comes to oil and gas production.
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But as I said on Tuesday, and as the folks here at UPS understand, even with all this oil production, we only have about 2 percent of the world’s oil reserves. So we got to have an all-out, all-in, all-of-the-above strategy that develops every source of American energy –- a strategy that is cleaner and cheaper and full of new jobs.
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Now, a great place to start is with natural gas. Some of you may not have been following this, but because of new technologies, because we can now access natural gas that we couldn’t access before in an economic way, we’ve got a supply of natural gas under our feet that can last America nearly a hundred years. Nearly a hundred years. Now, when I say under our feet, I don’t know that there’s actually gas right here. I mean in all the United States.
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And developing it could power our cars and our homes and our factories in a cleaner and cheaper way. The experts believe it could support more than 600,000 jobs by the end of the decade. We, it turns out, are the Saudi Arabia of natural gas. We’ve got a lot of it. We’ve got a lot of it.
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Now, removing that natural gas obviously has to be done carefully. And I know that there are families that are worried about the impact this could have on our environment and on the health of our communities. And I share that concern. So that’s why I’m requiring -- for the first time ever -- that all companies drilling for gas on public lands disclose the chemicals they use. We want to make sure that this is done properly and safely. America will develop this resource without putting the health and safety of our citizens at risk.
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But that alone doesn’t do it. So if we want to actually deal with the deficit, we’ve got to look at the other side of the ledger. Do we want to keep these tax cuts for the wealthiest Americans? Or do we want to keep investing in everything else -- like education, like clean energy -- like a strong military, like caring for our veterans who are coming home from Iraq and Afghanistan? We can’t do both. We can’t do both.
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We've subsidized oil companies for a century. That’s long enough. Congress needs to stop giving taxpayer dollars to an oil industry that’s never been more profitable, and double down on a clean energy future that’s never been more promising.
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But people understand that the job is not done, not even close to being done yet. And they understand that if we’re going to finish the job, then we’ve got to, first of all, make sure that American manufacturing is strong. And that means that we’re out there creating a tax code that doesn’t provide tax breaks for companies that are shipping jobs overseas. We are focusing on companies that are investing right here in the United States, because we believe that when you make it in America everybody benefits, everybody does well.
They understand that we need American energy. And part of my goal on Tuesday was to dispel this notion that somehow we haven’t been on top of developing American energy -- oil and gas production up higher than they’ve been in eight years, percentage of imports lower than in the last 16. We’ve been developing and opening up millions of acres to develop.
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I know the other side doesn’t always believe in this agenda. They think that the only subsidy that’s worth providing is subsidies to oil companies. Well, as I said, we’ve been subsidizing oil companies for close to a century now. Rarely have they been more profitable. Let’s take some of that money, let’s take some of those tax breaks and make sure that we’re investing in a clean energy future that’s just as promising.
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Skills for American workers, making sure that every young person in this country has the skills to succeed. I told the story at the State of the Union, but I want to make sure everybody hears this, because we’re going to have to work hard on this. Companies are starting to say it makes economic sense for us to move back here into the United States. Wages in places like China are going up faster than productivity. American workers have never been more productive. Energy costs increasingly are competitive here in the United States, partly because of all of the development that’s taking place around natural gas. Transportation costs are higher from other places.
When you look at the whole package, a lot of companies are saying, we want to be here, close to our market. But one of the biggest impediments is we’ve got to be able to find the skilled workers that are going to be managing million-dollar pieces of equipment.
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But -- I think young people especially understand this -- no matter how much oil we produce, we’ve only got 2 percent of the world’s oil reserves. And that means we’ve got to focus on clean, renewable energy. We’ve got to have a strategy that, yes, is producing our own oil and natural gas. But we’ve also got to develop wind and solar and biofuels.
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I don’t want to cede the wind or the solar or the battery industry to China or Germany because we were too timid, we didn’t have the imagination to make the same commitment here. And I want those jobs created here in the United States of America. And I also want us to think about energy efficiency, making sure -- we’ve already doubled fuel efficiency standards on cars. Part of Detroit coming back is creating more fuel-efficient cars here in Michigan -- and more fuel-efficient trucks. And we’ve got to revamp our buildings to make them more fuel-efficient.
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This past Tuesday, I tried to lay out that vision, that blueprint for how we move forward, involving resuscitating American manufacturing -- the same way we've done with the auto industry, we can do that across the board. American energy -- how do we, yes, make sure that American oil production and natural gas are properly produced, but how do we also make sure that we're still investing in clean energy and looking 10, 20, 30 years down the road and making sure that we're at the forefront of the kind of clean energy economy that I think everybody is going to have to adjust to.
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And so when we went to Asia, for example, what was striking was, yes, people understand that China is on the rise and economically their fates are going to be tied not only to us but also to a rapidly growing China, but when it comes to putting together an architecture out there that assures that small countries are protected, that everybody is abiding by the same sets of rules, that their natural resources are properly developed and not exploited -- they're still looking to us.
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The recovery is accelerating. America is coming back -- which means the last thing we can do is go back to the same failed policies, the very same policies that got us into this mess in the first place. And that’s what’s at stake in this election. That’s exactly what the other candidates want to do. They don’t make any secret about it. They want to go back to the days when Wall Street played by its own rules. They want to go back to the days when insurance companies could deny you coverage or jack up premiums without reason. They want to go back to spend trillions of dollars more on tax breaks for folks like me, for the wealthiest Americans, even if it means adding to the deficit, or gutting things like education or clean energy or making Medicare more expensive for seniors.
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An economy built to last is one where we support science, and scientists and researchers that are making the next breakthroughs in clean energy right here in the United States of America. We are a nation of inventors and tinkerers. We come up with new ideas, and we try things that the world hasn't seen before. And that has to be an area where we are thinking not just about now, but we're thinking about tomorrow and the next generation. And nowhere is that truer than when it comes to energy.
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We've subsidized oil companies for nearly a hundred years. It's time to end a hundred years of taxpayer giveaways to an industry that’s rarely been more profitable, so we can double down on the clean energy industry that has never been more promising -- in solar power and wind power and biofuels. That’s good for our economy, it's good for our national security, and it is good for the planet. And that is part of what's at stake in this election.
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And what we've also started to say is, is that we've got to have an even bolder program to get the low-hanging fruit when it comes to our energy challenges, and that’s making everything more energy efficient. If we had the energy efficiency that exists in Japan right now, we would lower our energy consumption by 20 percent. It's remarkable. It's doable. It doesn’t require new technologies.
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That's why it's so important for us to stay focused and Congress to continue to do the things that the American people want to see done in order to improve the economy. We’ve got to build an economy that is built on American manufacturing and American-made energy, and is improving the skills and capacity of American workers. We've got to make sure that when we think about energy, that we're fueling America by homegrown and alternative energy sources that make us more secure and less dependent on foreign oil. When we think about skills for American workers, we got to make sure that everybody has the opportunity not only for four-year colleges, but also two-year colleges, the community colleges that Dr. Jill Biden is doing such a great job promoting all across the country.
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And it means this country will reduce our oil consumption by more than 2 million barrels a day. That's not only good for your pocketbook, that's good for the environment.
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It’s outrageous. It’s inexcusable. And every politician who’s been fighting to keep those subsidies in place should explain to the American people why the oil industry needs more of their money -- especially at a time like this.
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Today we’re taking a step that will make it easier for companies to save money by investing in energy solutions that have been proven here in the University of Miami -- new lighting systems, advanced heating and cooling systems that can lower a company's energy bills and make them more competitive.
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We’re making new investments in the development of gasoline and diesel and jet fuel that’s actually made from a plant-like substance -- algae. You’ve got a bunch of algae out here, right? If we can figure out how to make energy out of that, we’ll be doing all right.
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We said that we've got to start developing American energy. We've doubled clean energy since I've been President. And even as we've increased production of oil, we've recognized we've got to transition so that our kids and our grandkids are able to enjoy not only economic growth and not be dependent on what's happening in the Middle East or someplace else, but also we're able to protect the planet.
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So we’ve got a good story to tell about the last three years but I’m not done yet. I need five more years. We need five more years to reform an immigration system that doesn’t work and make sure that we are a nation of laws and a nation of immigrants. We need five more years because we still have to implement energy policies that work for everybody. And that means continuing to push on clean energy and energy efficiency.
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Now, that’s what the other candidates want to do. I don’t know if you guys have been watching the Republican primary debates, in case you need an incentive. They make no secret about what they want to do. They want to go back to the days when Wall Street played by its own rules. They want to go back to the days when insurance companies could deny you coverage or jack up your premiums without reason. They want to spend trillions more on tax breaks for the wealthiest individuals, for people like me, who don’t need it, weren’t even asking for it -- even if it means adding to the deficit, even if it means gutting our investments in education or clean energy, or making it harder for seniors on Medicare. Their philosophy is simple: We are better off when everybody is left to fend for themselves, everybody makes their own rules, a few do very well at the top and everybody else is struggling to get by. That’s their core vision for America.
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An America built to last is one where we're supporting scientists and researchers trying to find the next breakthrough in clean energy, making sure that happens right here in the United States. You know, we've subsidized oil companies for a century. It's time to end a hundred years of subsidies for an industry that's rarely been more profitable, and make sure that we're doubling down on clean energy that's never been more promising -- solar power and wind power, biofuels. They can break our addiction to foreign oil, create jobs here in America. And it's good for our national security, it's good for our economy, it's good for your pocketbook.
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Last week, we announced the next steps towards further energy exploration in the Arctic. Earlier this week, we joined Mexico in an agreement that will make more than 1.5 million acres in the Gulf available for exploration and production, which contains an estimated 172 million barrels of oil and 304 billion cubic feet of natural gas.
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And that means we can’t just rely on fossil fuels from the last century. We can’t just allow ourselves to be held hostage to the ups and downs of the world oil market. We've got to keep developing new sources of energy. We've got to develop new technology that helps us use less energy, and use energy smarter. We've got to rely on American know-how and young engineers right here at the U who are focused on energy. That is our future. And that’s exactly the path that my administration has been trying to take these past three years.
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And we’re making progress. That's the good news. In 2010, our dependence on foreign oil was under 50 percent for the first time in over a decade. We were less reliant on foreign oil than we had been. In 2011, the United States relied less on foreign oil than in any of the last 16 years. That's the good news. And because of the investments we’ve made, the use of clean, renewable energy in this country has nearly doubled -– and thousands of American jobs have been created as a consequence.
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First of all, while there are no silver bullets short term when it comes to gas prices -- and anybody who says otherwise isn't telling the truth -- I have directed my administration to look for every single area where we can make an impact and help consumers in the months ahead, from permitting to delivery bottlenecks to what’s going on in the oil markets. We're going to look at every single aspect of gas prices, because we know the burden that it's putting on consumers. And we will keep taking as many steps as we can in the coming weeks.
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That's short term. But over the long term, an all-of-the-above energy strategy requires us having the right priorities. We've got to have the right incentives in place. I'll give you an example. Right now, $4 billion of your tax dollars subsidize the oil industry every year -- $4 billion. They don't need a subsidy. They're making near-record profits. These are the same oil companies that have been making record profits off the money you spend at the pump for several years now. How do they deserve another $4 billion from taxpayers and subsidies?
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The potential of a sustained, all-of-the-above energy strategy is all around us. Here in Miami, 2008, Miami became the first major American city to power its city hall entirely with solar and renewable energy. Right here in Miami. The modernization of your power grid so that it wastes less energy is one of the largest projects of its kind in the country. On a typical day, the wind turbine at the Miami-Dade Museum can meet about 10 percent of the energy needs in a South Florida home, and the largest wind producer in the country is over at Juno Beach. Right here at this university, your work is helping manufacturers save millions of dollars in energy bills by making their facilities more energy efficient.
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So a lot of work is already being done right here, just in this area. And the role of the federal government isn’t to supplant this work, take over this work, direct this research. It is to support these discoveries. Our job is to help outstanding work that’s being done in universities, in labs, and to help businesses get new energy ideas off the ground -- because it was public dollars, public research dollars, that over the years helped develop the technologies that companies are right now using to extract all this natural gas out of shale rock.
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The payoff on these public investments, they don’t always come right away, and some technologies don’t pan out, and some companies will fail. But as long as I’m President, I will not walk away from the promise of clean energy. Your future is too important. I will not -- I will not cede, I will not give up, I will not cede the wind or the solar or the battery industry to China or Germany because some politicians in Washington have refused to make the same commitment here in America.
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We’re launching a program that will bring together the nation’s best scientists and engineers and entrepreneurs to figure out how more cars can be powered by natural gas, a fuel that’s cleaner and cheaper and more abundant than oil. We’ve got more of that. We don’t have to import it. We may be exporting it soon.
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That's why we focused on education, and we've said that not only do we want to improve K through 12 so that every child is getting the basics -- math and science and English -- but we want everybody to be able to go to college. And we took $60 billion that was going to -- that was being channeled to the banks as subsidies through the student loan program and we said let’s take that money and give it directly to students so that we could expand Pell grants and we could make sure that every -- young people who want to go to college can afford to do so. Because right now, actually, student loan debt is higher than credit card debt in this country. And it’s a huge burden on the next generation and we have to start relieving it.
We said, we’ve got to have an energy policy that makes sense and that includes developing oil and gas resources in this country, but it also means focusing on clean energy. And here in Florida, we’ve seen enormous progress on things like solar and wind and biodiesel. But we’ve got to do more -- making sure that our cars are more energy efficient, making sure that we’re not prey to every year right around this time oil spiking because something is going on in the Middle East, and our whole economy is suddenly vulnerable.
And we focused on making sure that our tax system is fair. What I’ve said consistently is, look, I don’t like paying taxes any more than anybody else does and I’m the President. Now, here’s the thing about being President, you pay every dime. You don’t take advantage of any loopholes -- because everybody sees your income tax returns. So I’m probably in the top bracket in every category.
But what I’ve said is Michelle and I have been so blessed, we can afford to do a little bit more to make sure that the next generation is able to come back up, is able to achieve their dreams the same way Michelle and I did. Because we think about our stories. I was raised by a single mom. Michelle was raised by a blue-collar worker and a secretary. My mother-in-law, even though she lives with us now, she's kept her home back in Chicago. It’s now her house, but when they were growing up it was actually my mother-in-law’s sister’s house and Michelle’s family lived on the top floor, the second floor of this bungalow. It couldn’t have been more than 600 square feet where four people grew up.
And yet, she was able to go to a quality public school, go to Princeton, go to Harvard Law School, because somebody made an investment in her. Somebody said, you know what, we want to make sure everybody has opportunity. And that’s the same way I was able to get ahead, is because somebody made an investment in me.
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That means we’ve got to strengthen American manufacturing so that more and more good jobs and products are made here in America. It means that we’ve got to develop new sources of American energy so that we’re less dependent on foreign oil and yearly spikes in gas prices. And it means that we’ve got to make sure that every American is equipped with the skills, with the education that they need to compete for the jobs of tomorrow as well as the jobs of today. And that’s what I want to talk to these governors a little bit about.
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After three decades of inaction, we’re gradually putting in place the toughest fuel economy standards in history for our cars and pickups. That means the cars you build will average nearly 55 miles per gallon by the middle of the next decade -- almost double what they get today. That means folks, every time they fill up, they're going to be saving money. They'll have to fill up every two weeks instead of every week. That saves the typical family more than $8,000 at the pump over time. That means we’ll cut our oil consumption by more than 2 million barrels a day. That means we have to import less oil while we're selling more cars all around the world.
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The question is whether or not we should keep giving $4 billion in taxpayer subsidies to the oil industry. The oil industry has been subsidized by you, the taxpayer, for about a hundred years.
If we drilled every square inch of this country — so we went to your house and we went to the National Mall and we put up those rigs everywhere — we'd still have only 2 percent of the world's known oil reserves.
But understand: This was not our program, per se. Congress — Democrats and Republicans — put together a loan guarantee program [that funded Solyndra].
By working to meet our responsibilities as a nuclear power, we’ve made progress in a third area -- strengthening the global regime that prevents the spread of nuclear weapons. When I came into office, the cornerstone of the world’s effort -- which is the Nuclear Non-Proliferation Treaty -- was fraying. Iran had started spinning thousands of centrifuges. North Korea conducted another nuclear test. And the international community was largely divided on how to respond.
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This same principle applies with respect to Iran. Under the NPT, Iran has the right to peaceful nuclear energy. In fact, time and again the international community -- including the United States -- has offered to help Iran develop nuclear energy peacefully. But time and again Iran has refused, instead taking the path of denial, deceit and deception. And that is why Iran also stands alone, as the only member of the NPT unable to convince the international community that its nuclear program is for peaceful purposes -- the only member. That’s why the world has imposed unprecedented sanctions, slowing Iran’s nuclear program.
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As we do, let’s never forget the astonishing benefits that nuclear technology has brought to our lives. Nuclear technology helps make our food safe. It prevents disease in the developing world. It’s the high-tech medicine that treats cancer and finds new cures. And, of course, it’s the energy -- the clean energy that helps cut the carbon pollution that contributes to climate change. Here in South Korea, as you know, as a leader in nuclear energy, you’ve shown the progress and prosperity that can be achieved when nations embrace peaceful nuclear energy and reject the development of nuclear arms.
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And with rising oil prices and a warming climate, nuclear energy will only become more important. That’s why, in the United States, we’ve restarted our nuclear industry as part of a comprehensive strategy to develop every energy source. We supported the first new nuclear power plant in three decades. We’re investing in innovative technologies so we can build the next generation of safe, clean nuclear power plants. And we’re training the next generation of scientists and engineers who are going to unlock new technologies to carry us forward.
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One of the great challenges they’ll face and that your generation will face is the fuel cycle itself in producing nuclear energy. We all know the problem: The very process that gives us nuclear energy can also put nations and terrorists within the reach of nuclear weapons. We simply can’t go on accumulating huge amounts of the very material, like separated plutonium, that we’re trying to keep away from terrorists.
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In this sense, we see how the efforts I’ve described today reinforce each other. When we enhance nuclear security, we’re in a stronger position to harness safe, clean nuclear energy. When we develop new, safer approaches to nuclear energy, we reduce the risk of nuclear terrorism and proliferation. When nations, including my own, fulfill our responsibilities, it strengthens our ability to ensure that other nations fulfill their responsibilities. And step by step, we come closer to the security and peace of a world without nuclear weapons.
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On Iran, we agree that the P5-plus-1 talks with Iran that should be announced soon offer us an opportunity to resolve diplomatically the critical issue of ensuring that Iran is abiding by its international obligations, that will allow it to rejoin the community of nations, and have peaceful uses of nuclear energy while not developing nuclear weapons.
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I think we all understand that no one nation can do this alone. This is one of those challenges in our interconnected world that can only be met when we work as an international community. And what we did in Washington, what we're now doing in Korea, becomes part of a larger global architecture designed to reduce the dangers of nuclear weapons and nuclear terrorism, but also allows us then to more safely and effectively pursue peaceful uses of nuclear energy.
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Think about that. It’s like hitting the American people twice. You’re already paying a premium at the pump right now. And on top of that, Congress, up until this point, has thought it was a good idea to send billions of dollars more in tax dollars to the oil industry.
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Right now, the biggest oil companies are raking in record profits –- profits that go up every time folks pull up into a gas station. But on top of these record profits, oil companies are also getting billions a year -- billions a year in taxpayer subsidies -– a subsidy that they’ve enjoyed year after year for the last century.
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It’s not as if these companies can’t stand on their own. Last year, the three biggest U.S. oil companies took home more than $80 billion in profits. Exxon pocketed nearly $4.7 million every hour. And when the price of oil goes up, prices at the pump go up, and so do these companies’ profits. In fact, one analysis shows that every time gas goes up by a penny, these companies usually pocket another $200 million in quarterly profits. Meanwhile, these companies pay a lower tax rate than most other companies on their investments, partly because we’re giving them billions in tax giveaways every year.
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Now, I want to make clear, we all know that drilling for oil has to be a key part of our overall energy strategy. We want U.S. oil companies to be doing well. We want them to succeed. That’s why under my administration, we’ve opened up millions of acres of federal lands and waters to oil and gas production. We’ve quadrupled the number of operating oil rigs to a record high. We’ve added enough oil and gas pipeline to circle the Earth and then some. And just yesterday, we announced the next step for potential new oil and gas exploration in the Atlantic.
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So American oil is booming. The oil industry is doing just fine. With record profits and rising production, I’m not worried about the big oil companies. With high oil prices around the world, they’ve got more than enough incentive to produce even more oil. That’s why I think it’s time they got by without more help from taxpayers who are already having a tough enough time paying the bills and filling up their gas tank. And I think it’s curious that some folks in Congress, who are the first to belittle investments in new sources of energy, are the ones that are fighting the hardest to maintain these giveaways for the oil companies.
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And keep in mind, we can’t just drill our way out of this problem. As I said, oil production here in the United States is doing very well, and it's been doing well even as gas prices are going up. Well, the reason is because we use more than 20 percent of the world’s oil but we only have 2 percent of the world’s known oil reserves. And that means we could drill every drop of American oil tomorrow but we’d still have to buy oil from other countries to make up the difference. We’d still have to depend on other countries to meet our energy needs. And because it’s a world market, the fact that we’re doing more here in the United States doesn’t necessarily help us because even U.S. oil companies they’re selling that oil on a worldwide market. They’re not keeping it just for us. And that means that if there’s rising demand around the world then the prices are going to up.
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We’re going to keep investing in clean energy like the wind power and solar power that’s already lighting thousands of homes and creating thousands of jobs. We’re going to keep manufacturing more cars and trucks to get more miles to the gallon so that you can fill up once every two weeks instead of every week. We’re going to keep building more homes and businesses that waste less energy so that you’re in charge of your own energy bills.
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We’re going to do all of this by harnessing our most inexhaustible resource: American ingenuity and American imagination. That’s what we need to keep going. That’s what’s at stake right now. That’s the choice that we face. And that’s the choice that’s facing Congress today. They can either vote to spend billions of dollars more in oil subsidies that keep us trapped in the past, or they can vote to end these taxpayer subsidies that aren’t needed to boost oil production so that we can invest in the future. It’s that simple.
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We still have to have an energy policy that reflects both the short-term challenges that people are feeling, the pinch that they're feeling at the pump, but also the long-term challenges that we're facing in terms of energy independence and climate change.
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It means that we've got to sustain the work we've done making investments in research and development so that the breakthroughs in biotech or clean energy happen here in the United States.
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But that’s what the other side wants to do. They make no secret about it. They want to go back to the days where Wall Street played by its own rules. They want to go back to the day when insurance companies could do whatever they wanted to. They want to go back to the days where -- they want to continue to spend trillions of dollars on tax breaks for the wealthiest individuals in America, even if it means adding to the deficit, or gutting education, or gutting investments in clean energy, or hurting Medicare.
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We’ve got to make sure the next great breakthrough in clean energy happens right here in the United States of America. We have been subsidizing oil companies for 100 years now through taxpayer giveaways. I think it’s time -- I just talked about this yesterday -- it’s time to stop taxpayer giveaways to an oil industry that has been rarely more profitable. Let’s double down on clean energy that has never been more promising -- solar and wind and biofuels, and energy efficiency, electric batteries. That’s what we need to be investing in.
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And that's why we fulfilled pledges to end “don't ask, don't tell,” or to sign the Lilly Ledbetter Act that ensures equal pay for equal work. That's why we followed through on commitments to invest in clean energy, and doubled fuel-efficiency standards on cars -- and trucks -- in an unprecedented fashion.
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We still have to do more when it comes to energy, because as much progress as we've made over the last few years, the fact of the matter is, is that we still are importing too much oil and our economy is still subject to the whims of what happens in the Middle East. And our environment is still captive to our addiction to fossil fuels.
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But, of course, that’s exactly what the other side -- all those folks who are running for this office -- that’s exactly what they’re proposing. They don’t make any secret about it. They want to go back to the days when Wall Street played by its own rules. They want to roll back health care so that insurance companies can jack up your rates or whatever they want. They want to continue to spend trillions of dollars more on tax breaks for the wealthiest individuals, even if it means adding to the deficit, even if it means gutting things like education, and basic research, and clean energy and Medicare -- all those things that help this economy grow.
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An economy built to last is one where we support scientists and research and science. Whether it’s stem cell research or climate change, we want to make sure that the great medical breakthroughs happen here in the United States and that happens because we finance research. We want to make sure that the next breakthroughs in clean energy happen here in the United States. That happens because we support clean energy.
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We have -- we’ve subsidized oil companies for 100 years. And I think they’re doing pretty good, last I checked. Every time you fill up a tank, they’re doing just fine. So I think it’s time to end 100 years of taxpayer giveaways to an industry that’s never been more profitable. Let’s double down on the clean energy industry that’s never been more promising -- solar power and wind power, biofuels.
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Under my administration … we've added enough oil and gas pipeline to circle the Earth and then some.
Now, that’s their priorities. And that doesn’t make any sense. Do we want to keep tax cuts for the wealthiest Americans who don’t need them and didn’t ask for them? Or do we want to make sure that they’re paying their fair share? Do we want to keep subsidizing big oil, or do we want to make sure we’re investing in clean energy? Do we want to jack up interest rates on millions of students, or do we want to keep investing in things that will help us and help them in the long-term -- things like education and science, and a strong military and care for our veterans? We can’t do both. We can’t have it both ways. We’ve got to make a choice about what our priorities are.
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Do we want to keep giving taxpayer giveaways to big oil? Or do we want to invest in clean energy and do we want to make sure that we're rebuilding this country? And make sure that we can keep interest rates on millions of students affordable? We need to be investing in the things that build America over the long term. Things like education and science, a caring for our veterans, and a strong military. And we can’t have it both ways. We've got to make choices.
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We need to make sure everybody pays their fair share. How can we continue to subsidize an oil industry that's making record profits instead of investing in things like clean energy that will help shape our future? Do we want to jack up interest rates on millions of students? Or do we want to keep investing in the things that help us in the long term -- things like education and science, and a strong military, and care for our veterans? Because we can’t have it both ways. We can't do all things on the cheap.
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And none of these fights have been easy. We’ve got to wage more fights and win them on these issues and many more. We’ve got more jobs to create. More students to educate. More clean energy to generate. More troops to bring home. More doors of opportunity to open for all our kids. The one thing we can’t do –- the one thing we can’t afford to do right now is to go back to the very same policies that got us into this mess.
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Second, our joint vision commits us to deepening our trade and investment. We’re already among each other’s top trading partners, and our exports to Japan and Japanese companies here in the U.S. support more than 1 million American jobs. But there’s more we can do, especially as we work to double U.S. exports. So I appreciate the Prime Minister updating me on his reform efforts in Japan, including liberalizing trade and playing a leading role in Asia Pacific’s economy. We instructed our teams to continue our consultation regarding Japan’s interest in joining the Trans-Pacific Partnership, which would benefit both our economies and the region. And we agreed to deepen our cooperation on nuclear safety, clean energy and cyber security to enhance our economic competitiveness.
Third, our joint vision lays out the future we seek in the Asia Pacific -- a region where international rules and norms are upheld, where nations contribute to regional security, where commerce and freedom of navigation is not impeded and where disputes are resolved peacefully. As such, we continue our close consultations on the provocative actions of North Korea, which are a sign of weakness and not strength, and only serve to deepen Pyongyang’s isolation. And we discussed the changes underway in Burma and how our two nations can both reward progress there while encouraging more reforms that improve the lives of the Burmese people.
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After Vietnam and the energy crisis of the 1970s, some said America had passed its high point. But the very next decade, because of our fidelity to the values we stand for, the Berlin Wall came tumbling down and liberty prevailed over the tyranny of the Cold War.
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I’m running so that we can have control over our energy future. Our dependence on foreign oil is at its lowest point in 16 years. By the middle of the next decade, our cars will average nearly 55 miles per gallon. Thousands of Americans have jobs because of the production of renewable energies here in Colorado and all across the country. And your Governor and your mayors have been leaders in this -- your congressional delegation -- they understand now is not the time to cut these investments to pay for $4 billion a year in giveaways to the oil companies. Now is the time to end those subsidies on an industry that’s rarely been more profitable, and let's invest in the future. Let's invest in energy that has rarely been more promising for our economy and our security and the safety of our planet.
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I see an American Century because we have the resilience to make it through these tough economic times. We're going to put America back to work by investing in the things that keep us competitive -- education and high-tech manufacturing, science and innovation. We'll pay down our deficits, reform our tax code and keep reducing our dependence on foreign oil. We need to get on with nation-building here at home. And I know we can, because we’re still the largest, most dynamic, most innovative economy in the world. And no matter what challenges we may face, we wouldn’t trade places with any other nation on Earth.
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I just had a wonderful tour of this facility. And I was telling some of the folks we couldn’t take the helicopters in because the winds were too strong, so you are definitely in the right business. Obviously there's some wind power here in Iowa that we want to tap.
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This is not just an issue, by the way, for the wind industry. Some of America’s most prominent companies -– from Starbucks to Campbell’s Soup –- they’re calling on Congress to act because they use renewable energy.
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We’ve doubled fuel-efficiency standards on cars. We have doubled the amount of clean energy that we’re producing. We’ve still got a long way to go to have the kind of energy strategy that we need. But we actually have seen our imports of foreign oil drop down under 50 percent, the lowest that it’s been in 15 years. And through not only the production of clean energy, but massive investments in energy efficiency, we’ve got a chance to get control of our energy future in a way that is good for our economy, good for our national security and is good for our environment and we can start tackling climate change in a serious way and lead the world on that issue.
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And since then, our dependence on foreign oil has gone down every single year that I've been in office -- every single year. America is now producing more domestic oil than any time in the last eight years. But we're also producing more natural gas, and we're producing more biofuels than any time in our history. And that’s good for the Iowa economy. We're laying the foundation for some of our nation's first offshore wind farms. And since I became President, America has nearly doubled the use of renewable energy, like solar power and wind power -- we've nearly doubled it.
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So let's look at the wind industry. It's so important to Iowa. This industry, thanks in large part to some very important tax credits, has now taken off. The state of Iowa now gets nearly 20 percent of all your electricity from wind -- 20 percent. Overall, America now has enough wind capacity to power 10 million homes. So this is an industry on the rise. And as you know, it’s an industry that’s putting people to work. You know this firsthand. There are more wind power jobs in Iowa than any other state. That’s a big deal.
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And one of these modern windmills has more than 8,000 different parts -- everything from the towers and the blades to the gears, to the electrical switches. And it used to be that almost all these parts were imported. Today, more and more of these parts are being made here in America -- right here. We used to have just a few dozen manufacturing facilities attached to the wind industry. Today we have nearly 500 facilities in 43 states employing tens of thousands of American workers -- tens of thousands.
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I want to keep moving towards a future where we control our own energy. Our dependence on foreign oil is at its lowest point in 16 years. We have doubled clean energy investments. We have raised fuel-efficiency standards so the cars will be getting 55 miles a gallon. Thousands of Americans have jobs because of the investments we’re making in things like advanced battery manufacturing. That’s our future.
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And imagine what we could keep on doing if we weren’t spending $4 billion a year on subsidies for the oil companies, and we were investing that in clean energy, we’re investing it in energy efficiency. It is time for us to end subsidies for a mature industry that’s rarely been more profitable. Let’s double down on the clean energy future that’s never been more promising for our economy and for our security and for the safety of our planet and doing something about climate change.
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I’m running so we can keep moving forward to a future where we control our own energy. Our dependence on foreign oil is at the lowest point it's been in 16 years. By the middle of the next decade, our cars will average nearly 55 miles per gallon. Thousands of Americans have jobs -- including here in Iowa -- because the production of renewable energy has nearly doubled in just three years in this country.
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Fourth, Congress should extend the tax credits for clean energy companies that are set to expire at the end of the year. This is something that a lot of members, both Democrats and Republicans, should be able to appreciate, because wind power, solar power, biofuels -- those aren't partisan issues -- that's a job sector that is growing across the country. But right now, there is too much uncertainty because we haven't gone ahead and locked down some of these tax credits.
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These companies are putting folks back to work and they're helping us break our dependence on foreign oil. There are members, again, of both parties that support these tax credits. And tens of thousands of jobs are at stake. So I think it's very important for us to make sure that we move forward on that.
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Now, listen, there’s no mystery about where the other side will take us if they win the election. I mean, their economic plan has been voted on in Congress. Governor Romney has it right there on his website. So, look, first, they promise to roll back all kinds of regulations on banks and polluters and insurance companies and oil companies.
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Now, I can tell this is a sophisticated group, so -- so you might be wondering, how do they spend $5 trillion on new tax cuts and then, with a straight face, say that their plan would reduce the deficit? How do they do that? It's a good question. Well, let me tell you, they start by proposing $1 trillion in cuts to things like education and training and medical research and clean energy.
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Second, under my plan, we’re going to move towards a future where we control our own energy. That’s something that’s good for our economy, good for our environment, good for our national security. So we need to end government subsidies to oil companies -- they’re making a lot of money on their own. Let’s double -- on wind power and solar power, biofuels and fuel-efficient cars. I want to put in place a new standard that makes clean energy the profitable kind of energy for every business in America.
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So this is about choices. I don’t believe that giving millionaires and billionaires a $250,000 tax cut is more valuable to our future than hiring transformative teachers, or providing financial aid to kids who need it to go to college. I don’t believe that kind tax cut is more likely to create jobs than providing loans to new entrepreneurs, or tax credits to small businesses who hire veterans. I don’t think it’s more likely to spur economic growth than our investments in clean energy and medical research, in building new roads and bridges and expanding our ports and our runways.
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And, look, their plan is pretty simple. It’s been voted on in Congress. It’s right there on Governor Romney’s website. First of all, they promise to roll back all kinds of regulation on banks and polluters and insurance companies and oil companies.
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-- and medical research and clean energy. But that's only $1 trillion. They’ve got $5 trillion that they want to pay for, right? So that’s not enough. So they also propose eliminating health care for about 50 million Americans and turning Medicare into a voucher program.
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Now, I’m running so that we have a future where we control our own energy, and that's good for our economy, our security. It’s good for our environment. So my plan would end government subsidies to oil companies that are making plenty of profits. Let’s double down on clean energy -- wind power and solar power, next generation of biofuels, fuel-efficient cars. That’s the choice in this election.
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This is about choices. I don’t believe that giving millionaires and billionaires a $250,000 tax cut is going to do more for our future than hiring transformative teachers, or providing financial aid to the children of middle-class families. I don’t believe a poorly designed tax cut like that is more likely to create jobs than providing loans to new entrepreneurs, or tax credits to small businesses who hire veterans. I don’t think it’s more likely to spur economic growth than investments in clean energy and medical research, and new roads and bridges and runways.
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Well, they start by proposing a trillion dollars in cuts to things like education and training, medical research, clean energy. But that’s only a trillion dollars, so that's not enough. So then they propose eliminating health care for about 50 million Americans and converting Medicare into a voucher program. But that’s still not enough. So then they also have to effectively raise taxes on the middle class by taking away tax deductions for everything from health care, college, retirement, homeownership -- which could cost families thousands of dollars.
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I’m running so that we have a future where we control our own energy. That’s good for our economy, it's good for our national security, it's good for our planet. We need to end subsidies for oil companies that are making plenty of money on their own, and double down on a clean energy industry that’s never been more promising -- in wind power and solar power, and biofuels and fuel-efficient cars.
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And the reason this is relevant is because this is part of their overall economic vision, an overall economic plan that he and the Republicans in Congress share and they will implement if they are elected. And it’s there for all to see it -- they put it on the table. It’s been voted on in Congress. It’s right on Governor Romney’s website. They’re going to rollback all kinds of regulations on banks and polluters and insurance companies and oil companies. That’s part one of the plan.
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Passing health care reform that provides 30 million people, for the first time, the opportunity to get health insurance that didn’t have it before. And it makes young people -- it makes it possible for young people to stay on their parents’ health insurance -- 2.5 million young people already taking advantage of that. Preventive care, including mammograms and cervical cancer screenings for women, contraceptive care.
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I want us to be in control of our own energy future. That's good for our economy, our security. It's good for our planet. That's why we need to end government subsidies for oil companies that are already making a lot of money. Let's double down on investments in clean energy -- in solar and wind and biodiesel, fuel-efficient cars. That would be good for all of us.
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I've got a vision that says we'll grow our economy if we control our own energy sources so we're not dependent on what happens in the Middle East. And that's why we've got to double down on clean energy -- wind power and solar power. And I've got a vision that says we grow best when our tax code makes sure that the wealthiest Americans are paying a little bit more in order to bring down our debt.
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I want to stop giving subsidies to oil companies that have never been more successful, never made more profits. I want to take that money and give subsidies to clean energy, to the energy of the future that's never been more promising -- fuel-efficient cars and solar power and wind power, biodiesel -- putting folks back to work creating homegrown energy, so we're less dependent on foreign oil.
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They believe that if we roll back regulations that we put in place on banks and insurance companies and oil companies, all meant to protect our people and our economy, that somehow everybody is going to be better off.
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Well, they start by proposing a trillion dollars in cuts to things like education and training, medical research, clean energy. But that’s only a trillion dollars, so that's not enough. So then they propose eliminating health care for about 50 million Americans and converting Medicare into a voucher program. But that’s still not enough. So then they also have to effectively raise taxes on the middle class by taking away tax deductions for everything from health care, college, retirement, homeownership -- which could cost families thousands of dollars.
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I’m running because I want to build not just the best energy policy in the world here in the United States, I also want us to take the lead in clean energy. We’ve seen oil production go up. We’re seeing natural gas production go up. And we’ve doubled our investment and production in solar and wind and biodiesel. I don't want us to be dependent on what happens in the Middle East for our energy. I want us to develop homegrown energy.
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I want us to stop giving tax subsidies to oil companies that are already incredibly profitable. I want to double down on our investment in clean energy that's never been more promising -- in solar and wind and biodiesel -- and put people back to work so that we can free ourselves from dependence on foreign oil, and build up America. That's why I’m running for a second term as President of the United States.
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So that’s one big part of their idea, is you cut taxes for folks at the top. Their second big idea is if you eliminate regulations on oil companies or insurance companies or credit card companies or polluters, that somehow that will free up the engine of growth. So those are basically their two -- those are the only two ideas they have. Don’t take my word for it. Go on their websites. Look at the Republican budget in the House of Representatives. That’s their basic approach. They believe that somehow all these benefits are going to trickle down if we just implement their plan.
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So we’re going to invest in education. We’re going to invest in American energy. Yes, we want to continue to expand our production of oil and natural gas, but I also want to make sure that we are the leaders in solar and wind and biodiesel, the energy of the future that can help reduce our dependence on foreign oil.
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Q , I’m Jim O’Reilly. Ten years as an elected city official has shown me a real change in what the Republican Party has been doing to us. They’ve taken away our power to protect our natural resources -- water and air -- from the strength of the oil and gas drillers that are doing fracking here in Ohio. I support what Lisa Jackson and the EPA are doing. Is there more the administration can do to protect us from the adverse effects of drilling for natural gas? Thank you.
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Now, part of that is this boom in natural gas. And this is something we should welcome, because not only are we blessed with incredible natural gas resources that are now accessible because of new technologies, but natural gas actually burns cleaner than some other fossil fuels, and is an ideal fuel -- energy source that we potentially can use for the next 100 years. So I want to encourage natural gas production. The key is to make sure that we do it safely and in a way that is environmentally sound.
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But it’s not just the auto industry. Whether we’re talking about advanced manufacturing of batteries that will help us run electric cars, or wind turbines, or solar panels -- I believe in making things here in America. And I believe in inventing things here in America.
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And all these things -- whether it’s investing in clean energy and making sure that solar panels and wind turbines are built here in the United States of America -- whether it’s making sure that health care is there for people who are working hard and doing the responsible thing, whether it’s making sure all our young people have access to the higher education that they need -- all these things tie together. It goes back to that central idea, the promise that if you work hard, you can get ahead. The same promise that our parents and our grandparents passed down to us, and that we now have a responsibility to pass on to our children and our grandchildren.
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You haven’t met the small business owners who decide to keep everybody on payroll, even if they couldn't pay themselves, because they believed in doing the right thing. You haven't talked to some of these autoworkers in these plants that folks thought would never build another car again and now can't build them fast enough. You haven't met folks who at the age of 50 or 55, went back to community college, sitting next to a bunch of 20-year-olds, because they believed in retraining themselves, and now are finding jobs in biotechnology or clean energy.
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We’ve still got an enormous amount to do on energy. There is a convergence here of environmental interests and economic interests. We’ve doubled fuel-efficiency standards on cars and doubled the production of clean energy, but if we can do more, then we can continue to keep pace with the goal that I set of drastically reducing our imports of foreign oil -- and take some carbon out of the atmosphere at the same time, and create hundreds of thousands of jobs all across the country.
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My opponent and I disagree when it comes to homegrown energy like wind. Wind power is creating new jobs all across Iowa. But Governor Romney says he wants to end the tax credit for wind energy producers. Now, America generates more than twice as much electricity from wind than when I took office. That's right. The wind industry supports about 7,000 jobs right here in Iowa. Without these wind energy tax credits, those jobs are at risk -- 37,000 jobs across the country would be at risk.
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Here’s another difference. Right now, homegrown energy, things like wind energy -- creating new jobs all across the states like Iowa -- and Governor Romney wants to end tax credits for wind energy producers. America now produces twice as much electricity from wind as we did before I took office. We’ve doubled the amount of electricity we’re producing with wind. The wind industry supports about 7,000 jobs in Iowa. Without these wind energy tax credits, a whole lot of these jobs would be at risk -- 37,000 jobs across this country would be at risk.
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So I think we should stop spending billions on taxpayer subsidies for an oil industry that is making all kinds of profit, and let’s keep investing in the clean energy that's never been more promising. That’s a disagreement I’ve got with Governor Romney. That’s a choice in this election.
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So on almost every issue -- whether it’s clean energy where we’ve doubled fuel-efficiency standards on cars, doubled clean energy, created jobs around the country, we can create more -- Mr. Romney has got a different view. On student loans, Mr. Romney says kids, they should just borrow money from their parents -- not realizing perhaps that some kids might not have parents whom they can borrow money from. That’s a different point of view. It is a different vision about how America should work.
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Now, I still want to make sure that government does its part by being good stewards of taxpayer dollars. So we've cut a trillion dollars out of federal spending -- a trillion dollars that I've already signed into law. We've got an additional trillion that's slated. So we're prepared to make some tough choices on things we can't afford. But we're not going to reduce the deficit by gutting education investments, gutting investments that we make in our infrastructure, gutting our investments in basic science and research that can lead to discoveries in clean energy or lead to discoveries in curing cancer. That's not how we're going to grow this economy and make sure that the middle class is strong.
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Let me give you another example. Kirk was just talking about wind power. I was just visiting a wind farm close by. It's a working farm. It has about five windmills on one property, 52 in this area -- 52 wind farms generating incredible amounts of energy and, by the way, helping family farmers with a little bit of extra income.
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Now, Governor Romney has decided that we should end the tax credit that we provide for wind power once and for all. That's his idea. He wants to get rid of it. At a moment when homegrown energy is creating new jobs here in states like Iowa, he wants to bring an end to it. He said -- and I'm quoting here -- he said new sources of energy like these are "imaginary."
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His running mate, Congressman Ryan, calls them a "fad." Then during a speech a few months ago, Governor Romney explained his energy policy this way -- "You can't drive a car with a windmill on it." That’s what he said about wind power. Now, I know he's tried some other things on top of a car. I didn’t know he had tried windmills on top of a car. But maybe he tried it. I would have liked to have seen that.
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But maybe he needs to come to Iowa to learn something about wind power. He'd know if he came here that 7,000 jobs have been created here in Iowa by the wind industry -- more than any other state in America. These jobs aren't a "fad," they're the future, and we've got to be investing in them.
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If he came here to Iowa, he might know that 20 percent of Iowa's electricity now comes from wind energy. Over the past 4 years, America has doubled its -- the amount of electricity that is produced from wind, and this is enough to power 13 million homes with clean and renewable energy. Think about that. It's the equivalent of 12 Hoover Dams' worth of electricity is being generated by wind power in this country. That’s something that’s worth investing in. That’s something we're doing for the next generation. And so are the 37,000 American jobs that are on the line if we let this wind tax credit expire.
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So this is a difference between me and Governor Romney. I want to stop giving $4 billion in taxpayer subsidies every single year to the oil companies that are doing just great, and let's take some of that money and continue to invest in homegrown, renewable energy right here in Iowa and all across America that can put people back to work.
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Well, I want to thank Jeff Heil and his father, Richard, for showing me around the farm. And I think it’s remarkable to think that the Heil family has been farming this land since 1902, but they’ve got a relatively new addition in the wind turbines that you see in the background. They’re part of the Laurel wind farm -- 52 turbines that harvest enough wind power to power an estimated 30,000 Iowa homes in a way that’s clean and renewable.
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Over the past four years, we’ve doubled the amount of electricity America can generate from wind -- from 25 gigawatts to 50 gigawatts. And to put that in perspective, that’s like building 12 new Hoover Dams that are powering homes all across the country. We doubled the amount of electricity we generate from solar energy, too. And combined, these energy sources are enough power to make sure that 13 million homes have reliable power and support the paychecks that help more than 100,000 Americans provide for their families.
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And I think it was interesting talking to Jeff. He described how these wind farms got started, and what you had was all the neighboring farms coming together and essentially forming a cooperative. And folks who had these windmills on their land, on their property, recognized that, look, that was going to have an impact on folks who might not. And so everybody in this area, whether they’ve got a wind farm or not, helps benefit -- or is benefiting from the economics of this wind energy.
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He said that new sources of energy like wind are "imaginary". His running mate calls them a “fad.” During a speech a few months ago, Governor Romney even explained his energy policy this way -- I'm quoting here -- “You can’t drive a car with a windmill on it.” That's what he said about wind power. “You can't drive a car with a windmill on it.” Now, I don't know if he has actually tried that. I know he has had other things on his car.
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But if he wants to learn something about wind, all he has got to do is pay attention to what you've been doing here in Iowa. If he saw what you’ve been doing, he’d see that there are places like Newton, where a few years ago the Maytag plant closed down, jobs dried up. Folks are now back to work manufacturing these enormous new towers and blades for some of the most sophisticated, high-tech wind turbines on the planet. The wind industry now supports 7,000 jobs here in Iowa -- 75,000 jobs across the country. These jobs aren't a "fad". These are good jobs, and they're a source of pride that we need to fight for.
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And if Governor Romney understood what you've been doing, he'd know that we used to have to import most of the parts were used for wind turbines -- they're now being made here in America, by American workers in American factories. That’s not “imaginary” -- that’s real. That’s part of what we’re fighting for in this election.
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If he knew what you’ve been doing, he’d know that 20 percent of Iowa’s electricity now comes from wind, powering our homes and our factories and our businesses in a way that is clean and renewable. In fact, over the past 4 years, we’ve doubled the amount of electricity America generates for wind. Across America, we’ve built the equivalent of 12 new Hoover Dams’ worth of wind energy. Think about that. Think about that.
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So Governor Romney may have figured out that you can’t drive a car with a windmill on it, but he doesn't seem to know that America now has enough wind turbines installed to generate enough electricity from wind to power nearly 13 million homes with clean energy. That’s how we leave something better for the next generation. That’s worth fighting for. That's what’s at stake right now.
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We met folks who have helped Iowa become a leader in wind energy -- and talked about how we need to keep investing in clean, renewable energy. This morning I had breakfast with Amanda and a number of other veterans, and listened to their stories about not only the pride they took in service to their country, but also they were pretty honest about some of the difficulties when they came home. And I reminded them that as Commander-In-Chief, one promise I guarantee I'll keep -- we are going to make sure we serve our veterans as well as they served us.
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The good news is you’re starting to see companies actually coming back from places like China, partly because when you start factoring in transportation costs and energy costs, as well as product quality, America is as productive and competitive as we’ve ever been. But that’s only going to be true if we continue to make sure that we’ve got the best workers in the world. And other folks are catching up. They’re putting more money into education.
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We met farmers who've been badly hurt by drought and who now need us to pass a farm bill. We met folks who've helped Iowa become a leader in wind energy. And now they need us to keep investing in clean, renewable energy. This morning I had breakfast with some of our outstanding veterans who fought under our proud flag. And so now we need to serve them just as well as they’ve served us, and make sure that they’ve got new jobs and new opportunities and a roof over their heads when they come home.
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On energy, Governor Romney has said that he wants to get rid of the tax credit for wind energy -- doesn't believe in -- he says these sources of energy are "imaginary." Congressman Ryan calls them a "fad". He needs to come to Iowa. He'll find out that there are 7,000 jobs in this state that depend on the wind industry. These jobs aren't a "fad." They're the future.
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But if he really wants to learn something about wind energy, he should come to Iowa. Then he’d know that 7,000 Iowa jobs depend on the wind industry -- more than any other state in America. These jobs aren’t a "fad." They’re our future. He'd know that the parts for making these high-tech wind turbines, they’re now made in Iowa. They’re made in America. That’s not "imaginary." I’ve been to the places in Newton, Iowa where some of this stuff is being made.
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I understand he may not have figured out how to drive a car with a windmill on it, but if he came to Iowa, he’d know that 20 percent of Iowa’s electricity now comes from wind energy. America has doubled the amount of electricity we get from wind over the last four years, enough power for nearly 13 million homes -- clean, renewable energy. That’s something you leave behind for the next generation. That is worth fighting for. There are 37,000 American jobs at stake in this wind energy tax credit. We should support it. I support it.
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Issue Position |
Romney has promised something for everyone with his energy proposals, saying he would protect both jobs and the environment. His plan calls for regulation reform, tapping more into the nation’s own resources and completing the Keystone XL pipeline.
He has shown limited support for green-energy development.
Romney’s energy plan calls for a streamlined regulatory process that would include fixed timelines for approval and a greater emphasis on weighing the cost of regulations. He has said he would increase domestic oil, natural-gas and nuclear-power production.
The former governor has said he would increase domestic production and support construction of the Keystone XL pipeline, bringing jobs and more Canadian oil to the United States. He has also recommended regulatory reform in the field of shale gas development.
The former governor has a mixed record when it comes to green-energy development. He has criticized the Obama administration for investing in green technology, but he used his executive power in Massachusetts to provide direct grants to a select few green-energy companies, as well as to speed up the use of investment money from the state’s renewable-energy trust. He has shown strong support for increased development in coal, natural gas, oil and nuclear energy.
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