[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

[[Page 289]]

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.