For Immediate Release
Office of the Press Secretary
September 9, 2008
Rest of the Story: President Bush Supports a Comprehensive Energy Plan
Setting the Record Straight
In Focus: Energy
USA Today wrongly claimed that President Bush has implied offshore drilling would be "a quick and easy way of lowering prices at the pump." (Editorial, "The Truth About Drilling," USA Today, 9/9/08)
President Bush has repeatedly noted that offshore drilling would take years to have its full impact on prices at the pump:
- "[I]t's not going to produce a barrel of oil tomorrow, but it is going to change the psychology that demand will constantly outstrip supply. As I said in my remarks, it's going to take a while to get these reserves on line. But it won't take a while to send a signal to the world that we're willing to use new technologies to find oil reserves here at home." (President George Bush, Press Conference, The White House, 7/15/08)
- "The proposals I've outlined will take years to have their full impact. There is no excuse for delay -- as a matter of fact, it's a reason to move swiftly." (President George W. Bush Discusses Outer Continental Shelf Exploration, The White House, 6/18/08)
- "Bringing OCS resources online is going to take time and that means that the need for congressional action is urgent." (President George W. Bush, Meeting With Cabinet Members, The White House, 7/30/08)
- "People say, well, it's not going to instantly change the problem. You're right, it's not. There's no magic wand. But it will certainly send a clear signal to the markets that the United States is no longer going to sit on the sideline, that we're going to use our new technologies to find hydrocarbons right here in the continental United States." (President George W. Bush, Remarks On Energy And The Economy, Euclid, OH, 7/29/08)
The Administration agrees with USA Today and believe offshore exploration is only part of the solution. In fact in the President's radio address last Saturday, he once again called for a comprehensive energy approach that Democrats refuse to support and requested that, at the very least, Democrats "take action on three common-sense energy solutions that enjoy bipartisan support." (President George W. Bush, Radio Address, 9/6/08) These energy proposals included:
- Expanding access to offshore exploration on the Outer Continental Shelf. Experts believe that the currently restricted areas could eventually produce about 18 billion barrels of oil, or nearly 10 years' worth of our current annual production. This exploration is now banned by a provision included in the annual Interior appropriations bill. President Bush has asked Congress to remove this restriction.
- Expanding access to oil shale. Oil shale is a highly promising resource in the United States that could produce the equivalent of more than a century's worth of imports at current levels. Last year, Democratic leaders used the omnibus spending bill to insert a provision blocking oil shale leasing on Federal lands President Bush has called on Congress to remove that provision immediately.
- Extending renewable power tax credits to spur the development of alternative sources of energy, such as wind and solar. President Bush called on Congress to make these credits long-term and expand incentives to other forms of low-emission power generation. Increasing production of low-carbon electricity will allow us to power a new generation of plug-in hybrid and hydrogen-powered vehicles.
Additionally, President Bush has remained strong in the pursuit of alternative sources of energy. The President signed legislation responding to his "Twenty in Ten" challenge in his 2006 State of the Union address to increase fuel efficiency and mandate the use of renewable fuels to reduce our dependence on oil. The President recognizes, as do Republicans in Congress, that we do not need just one energy source. The Administration has also:
- Advanced clean energy technologies;
- Provided nearly $18 billion to research, develop, and promote alternative energy technologies;
- Invested more than $45 billion for climate-related science, technology, observation, and incentives;
- Signed into law loan guarantee authorities of up to $42.5 billion to support innovative energy technologies; and
- Invested in solar and wind, hydrogen fuel cell technologies, plug-in hybrid vehicles, as well as cutting-edge clean-coal plants and advanced nuclear power technologies.
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