For Immediate Release
Office of the Press Secretary
April 20, 2005

Fact Sheet: Securing Our Nation's Energy Future

Today's Presidential Action

Today, President Bush Delivered Remarks On Energy Policy Before Members Of The United States Hispanic Chamber Of Commerce. The President stressed the vital need for comprehensive energy legislation to sustain the economic growth of the last two years, and outlined a plan to put us on a path toward greater energy independence.

• The President Proposed A National Energy Plan During His First Months In Office.

Background: Keeping Our Economy Growing Requires An Affordable, Reliable, And Secure Supply Of Energy

The President Has Outlined A Plan Towards Greater Energy Independence. In the immediate term, the United States will encourage oil-producing countries to maximize their production. In the long term, we must increase our supply of energy to meet the demands of our growing economy.

Energy Solutions Should Reduce U.S. Dependence On Foreign Energy.

• The United States Has Become Increasingly Dependent On Foreign Energy Sources. Over the past decade, America's energy consumption has increased by more than 12 percent, yet domestic production has increased by less than 0.5 percent.
• Energy Security Is A Matter of Economic Security. When America depends on only a handful of countries for almost 60 percent of its oil, the danger of major energy disruptions grows.
• Reducing Energy Dependence Requires Conservation And Exploration. By using less energy and opening up new areas to environmentally-responsible exploration, the United States can become less dependent on foreign energy sources. Developing even a tiny section of the Arctic National Wildlife Refuge (ANWR) will reduce dependence on foreign oil by up to 1 million barrels per day.

The President Has Laid Out Four Basic Principles That Must Guide Comprehensive Energy Legislation.

• Use Technology To Improve Conservation And Efficiency. The average American home loses between 10 and 50 percent of its energy through inadequate insulation and inefficient lights and appliances. Extending the Energy Star program would encourage the sale and production of energy efficient products, which would increase the supply of available energy and help families meet their bottom lines.
• Increase Domestic Energy Production In Environmentally Responsible Ways. There are several ways to increase energy production without negatively affecting the environment, including opening up new areas like ANWR, implementing the President's Clean Coal Power Initiative so America can make clean use of its abundant coal supply, and expanding the nation's use of nuclear power by renewing existing law that provides power-plant operators with liability protection.
• Diversify The Nation's Energy Supply. The energy bill should make our country less vulnerable to unexpected price spikes or shifts in supply by promoting the use of renewable energy sources with tax credits, by developing alternative sources of energy like hydrogen, and by encouraging greater use of ethanol and biodiesel.
• Modernize The Domestic Energy Infrastructure. The energy bill should modernize our aging energy infrastructure to help reduce the risk of large-scale blackouts and minimize transmission bottlenecks. This can be done by repealing outdated rules that discourage investment in new infrastructure and by encouraging the development of new technologies, such as superconducting power lines, to make the grid more efficient.

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