    [Weekly Compilation of Presidential Documents Volume 38, Number 9 (Monday, March 4, 2002)]
    [Pages 288-289]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Remarks on a Comprehensive Energy Policy

    February 25, 2002

        Thank you all for coming today. I'm honored to be joined by
    Secretary of Energy Spence Abraham and Administrator Christie Todd
    Whitman of the Environmental Protection Agency. We're here to discuss an
    energy plan, a comprehensive energy plan that recognizes that through
    technology, we can increase our national security and economic security
    by reducing demand for petrochemicals, and at the same time, we can
    clean up the air in our country. I want to thank these two leaders for
    having a practical vision as to how to achieve common objectives.
        Any sound, comprehensive energy policy must both increase production
    and reduce consumption. It's important for Americans to remember that as
    we debate an energy bill, as we have a discussion about an energy plan,
    that America imports more than 50 percent of its oil--more than 10
    million barrels a day. And the figure is rising.
        This is dependence on foreign oil. And this dependence is a
    challenge to our economic security, because dependence can lead to price
    shocks and fuel shortages. And this dependence on foreign oil is a
    matter of national security. To put it bluntly, sometimes we rely upon
    energy sources from countries that don't particularly like us.
        Now, it's also important to realize that the transportation sector
    consumes more than two-thirds of all the petroleum used in the United
    States, so that any effort to reduce consumption must include ways to
    safely make cars and trucks more fuel efficient. New technology is the
    best way to do so, and today we had a chance to see some of the best new
    technologies being developed by American ingenuity.
        Hybrid cars, the likes of which we just saw over there, are already
    in existence. They run on a mixture of gas and electric power. They are
    several times more fuel efficient than most cars on the road today. I
    was told by the representatives of the manufacturing companies that more
    and more hybrid cars will be available in the marketplace next year. And
    this is good news. It's good news for our environment, and it's good
    news for American consumers who are not only worried about the
    environment but understand the ramifications of dependency on foreign
    sources of crude oil.
        And then the fuel cells are being developed. Fuel cells will power
    cars with little or no waste at all. We happen to believe that

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    fuel cells are the wave of the future, that fuel cells offer incredible
    opportunity.
        Now, there's a lot of obstacles that must be overcome in order to
    make fuel cells economically viable. And therefore, we're promoting more
    research and development. In January Secretary Abraham announced a $150
    million FreedomCAR plan, focused on development of fuel cell
    technologies that run on hydrogen, whose only emission is water vapor.
        Imagine when that technology comes into being. Imagine how less
    dependent America will be on foreign sources of energy and how more easy
    it'll be to clean up our air. And we've got plenty of water, and if
    water vapor is the product, we'll be in good shape. But we need to have
    a focused effort to bring fuel cells to market, and that's exactly what
    my administration is dedicated to do.
        There's been some breakthroughs already. After all, NASA developed
    fuel cells to generate electricity, heat, and water in space vehicles.
    Businesses started using them in 1995. And that's why we are optimistic
    that within a reasonable period of time, that fuel-cell technology will
    become more widespread.
        We've also, in the bill I submitted, made it clear that any good
    comprehensive energy plan must encourage consumption by providing over
    $3 billion of consumer tax credits, available for those who purchase
    hybrid and fuel-cell vehicles over the next 11 years. In other words,
    there is a role for the Federal Government, not only to encourage
    research and development but a role to provide tax credits to enhance
    the marketplace.
        Technologies will also enable us to preserve our environment as we
    explore for natural gas at home. And I urge the United States Senate to
    pass a comprehensive energy plan quickly. The House has acted, and now
    the Senate must act. And the Congress needs to get a bill to my desk.
        The other feature about the energy bill that is important is that
    it's a jobs bill. That's why the Teamsters strongly support the energy
    package we submitted to the United States Congress. This is an important
    piece of legislation, and I urge quick action.
        Thank you all very much.

    Note: The President spoke at 11:05 a.m. on the South Lawn at the White
    House.