[Weekly Compilation of Presidential Documents Volume 44, Number 30 (Monday, August 4, 2008)]
[Pages 1038-1042]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks at Lincoln Electric Company in Euclid, Ohio

July 29, 2008

    Thank you all. George D.--[laughter]--introduces George W.--
[laughter]--at Lincoln Welding. Thanks. I'm proud to be here with ``the 
welding experts.''
    I want to talk a little bit about our economy and the importance of 
energy, but before I do so I do want to thank you all for your 
hospitality. I want to thank the workers here for their hard work. This 
is a productive site. This is a site that proves with good investment 
and good education and a company that treats its workers well, that 
America can compete with anybody, anytime, anywhere. That's what this 
country--[applause].
    I appreciate Mayor Cervenik for being here from Euclid. Thanks for 
coming, Mr. Mayor; I appreciate you coming. I oftentimes say you have a 
tougher job than I do; you have to fill the potholes. [Laughter] But I 
appreciate you coming.
    Two Members of the United States Congress, Steve LaTourette and Pat 
Tiberi, right here from the State of Ohio have joined us. Thank you all 
for coming; proud you're here.
    Laura sends her best--mother of the bride and a great First Lady. 
I'm sorry John is not with us; he is in Colombia. Isn't that 
interesting? He's in Colombia trying to make sure that Lincoln Welding 
can sell more products down there. One of the issues that in a time of 
economic uncertainty--and these are uncertain times, no question about 
it. They're uncertain because you're paying high prices at the gas pump. 
They're uncertain because you're reading the newspapers about the 
housing issue. They're uncertain times.
    And during uncertain times, we ought to be playing to our strengths, 
and implementing good commonsense policy. Well, one of our strengths is 
right here in this company. You're good at making a product that people 
want. People want it here in the United States of America, and when 
people are introduced to it around the world, they want it as well.
    So John is down there trying to get new business. The problem is 
that our Government policy relative to a country like Colombia is 
backwards. I don't know if you know this or not, but most of the goods 
produced in Colombia come to our country duty free. The United States 
Congress, as a result of what is called the Andean Trade Preference Act, 
has passed law that said they can sell into our markets, which frankly 
is good for our consumers. The more product you get to choose from, the 
better off you are. On the other hand, products going into Colombia from 
the United States face a duty, a tariff, a tax. In other words, the 
products made in the United States going into that market

[[Page 1039]]

cost more because of taxes imposed by the Colombian Government.
    I think it makes sense for the United States Congress to level the 
playing field, to say: We treat you one way; you treat us another way. 
So we've negotiated a treaty that said with Colombia, all we want to do 
is be treated fairly in the United States of America. We don't want 
anything special. We don't think you ought to go overboard; just treat 
us the way we treat you. Most of your products come in duty free. We 
want our products, like those manufactured right here in Euclid, Ohio, 
going into that Colombia market without a special tax on it.
    And Congress needs to pass that trade bill. It would be good for 
workers right here in this plant and good for workers all across 
America. This Government ought to be working to make it easier for you 
to sell products. Because if you sell a product, you got people working 
here in steady jobs.
    But I really want to talk to you about energy. I understand what it 
means to our families and our small businesses and people right here in 
this room to be paying high energy prices, high gasoline prices, like a 
tax. I've worked hard to keep your taxes low. Our energy policy hasn't 
done a very good job of keeping your gasoline prices low, and therefore, 
it's like paying a tax. My whole philosophy of government, by the way, 
is, yes, we've obviously got some needs in Washington, DC. The primary 
one is to make sure those who wear the uniform have the full support of 
the Government of the United States of America.
    But I think it makes sense for government to trust you with your 
money. See, I'd rather have you spending your money than the Government 
spending your money. I trust--[applause]. I'd rather you figuring out 
what's best for your families rather than us telling you what's best for 
your families. And so therefore, I really have worked hard to keep your 
taxes low at the Federal level. I can't help it at the State level or 
local level, but I can help you at the Federal level. The problem is 
gasoline prices have negated a lot of those tax cuts. And so it's--our 
economy is facing uncertainty. And I want to talk to you about what we 
could do about high energy prices.
    First, let me tell you, there's no such thing as a quick fix. 
Somebody said, ``What are you going to do about gasoline prices?'' I 
said, ``If I had the magic wand, I'd wave it.'' It took us a while to 
get to this position, and it's going to take us a while to get out of 
it.
    First thing, obviously, that can make a difference is conservation. 
What's interesting, however, is that people are plenty wise about how to 
conserve. You're making the choices about whether you want to drive a 
little extra more or not drive extra more. It's the collective wisdom, 
again, of the American people that really do set the best conservation 
measures.
    But the Government can help by working on higher fuel efficiency 
standards for automobiles, for example, so that as time goes on, 
automobiles will have better fuel efficiency. You'll get more gallons--
miles per gallon than you normally would.
    It's interesting to note that many of our consumers, however, have 
already made the decision to switch away from the automobiles, like 
SUVs, that consume a lot of gasoline to smaller cars. Why? Because 
you're smart. You know how to handle your own business. So conservation 
helps, and the Government can help promote good conservation.
    The reason why your gasoline prices are high is because the demand 
for oil is greater than the supply of oil. The worldwide demand for oil 
has increased faster than the supplies of oil. Why? Well, one reason why 
is because there's some new emerging economies. China, for example--
billions of people; more and more people are being able to afford cars. 
So the demand for crude oil is going up. Same in India. I don't know if 
you know this or not, but there's 350 million people in India who are 
middle class citizens. That's more than all America total. So these 
economies are beginning to grow, and there's more demand.
    The feed stock for gasoline is oil. So when you hear ``my gasoline 
prices are going up,'' you got to understand the main reason why is 
because oil prices are going up. And the reason why--again I want to 
repeat to you--is that the global demand for oil is growing faster than 
the global supply for oil. So it seems like we ought to be figuring out 
how

[[Page 1040]]

to find more oil here in the United States, if we're worried about--
[applause]. If we're worried about your gasoline price and recognize 
that it's high because of the price of crude oil, and it's possible to 
find more oil right here in the United States so we're not shipping our 
money overseas, doesn't it make sense to try to find that oil? I think 
it does. And here are some places where we can:
    One place where there is a--the experts say is a bountiful supply of 
oil, perhaps as much as 10 years worth at current consumption rates, is 
in the Outer Continental Shelf. That would be offshore America. One 
interesting fact that I want you to think about is how technology has 
changed, how we can find oil and gas in environmentally friendly ways. 
Of all people who know that, it's you. That's part of your business, is 
to make products that make it easier to move oil and gas from remote 
parts of the world under challenging conditions to markets in an 
environmentally friendly way. That's what you do. And by the way, you do 
a really good job of it.
    The American people must understand that new technologies make it 
easier to protect coral reefs, for example, when we drill offshore; that 
new technologies enable us to explore for oil and gas in ways that was 
not possible 20 years ago. You can have one platform and directionally 
drill from that platform. So I signed an Executive order that said, why 
don't we explore for oil and gas offshore. If we've got a problem with 
not having enough oil, let's go after some oil right here in the United 
States of America in environmentally friendly ways.
    There was an Executive order blocking that; I signed an Executive 
order that unblocked it. Now, it's up to the United States Congress to 
make a decision as to whether or not you're going to continue to face 
high gasoline prices at the pump or whether or not the United States 
ought to send a clear signal to the world: We're tired of being 
dependent on oil from overseas. Let's find it right here in the United 
States of America.
    I wish people could see the products you make here. What's 
interesting is that not only would we send a clear signal that we're 
going to do our part of increasing supply, but there's also a direct 
correlation between investment and jobs. How do I know? I just saw a 
welding machine--actually, I was the guy that punched the button--
[laughter]--on the welding machine that is making state-of-the-art 
pipeline equipment to be able to move natural gas to market. The more 
active we are here in the United States to find our own oil reserves, 
the more business companies like yours will get.
    So now there's a double--there's a dividend: more oil here in the 
United States, which takes pressure off gasoline prices and continuing 
good jobs in companies like Lincoln Electric.
    There are other things we can be doing as well. There's a lot of oil 
shale in the western part of the--our country, a lot. And there's new 
technologies that are now emerging that will make that oil shale, 
hopefully, become productive for increased crude oil here. And yet those 
lands have been taken off the exploration potential by U.S. law; 
Congress needs to change it.
    We got an energy problem here. It's not the lack of energy; it's 
because there's laws that prohibit us from finding that energy or 
getting that energy. In Alaska, in a very small part of that grand 
State, is the potential to find a lot of oil and gas. And we can do it 
in a way that does not damage the caribou herds or the tundra. And yet 
the Congress refuses to allow for there to be exploration in this part 
of the world. And they need to change the law. If they're really 
concerned about the gasoline prices you're paying, they need to change 
the law.
    Do you know that we have not built a new refinery in the United 
States of America since the early 1970s? Do you also know that we get a 
lot of our refined product, gasoline, from overseas? It doesn't make 
sense to me for the Congress not to allow for refineries to be built on 
abandoned military bases and to make it easier to build those refineries 
without a bunch of unnecessary regulations so we can get more gasoline 
into the market so as to take pressure off price.
    So here's some commonsense solutions to the problem you're facing. 
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

[[Page 1041]]

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. And guess 
who's going to make the products to help move that product to market? 
You are. And you're going to be better off for it, and so is the United 
States of America.
    I believe we're in a transition period from an era of hydrocarbons 
to new technologies. And the question is, how painful will it be for the 
American consumer?
    But make no mistake about it, we are headed for a new era. The 
United States of America needs to understand that if we truly are 
concerned about the environment and want to make sure we continue to 
grow our economy, we've got to expand nuclear power. And guess who makes 
a lot of the products that go into nuclear powerplants? You do. So when 
you hear me talking about making sure that we have electricity at 
reasonable price, just keep in mind that there are technologies 
available that make it easy for me to say I am confident nuclear power 
is safe, because I understand that the products that go into a nuclear 
powerplant are made by some of the finest welders in the United States 
of America.
    There's a lot of wind--they ought to have the biggest turbine farm 
in Washington, DC, where there's not only a lot of wind, there's a lot 
of hot air. [Laughter]
    Part of the mix has got to be solar and wind power--part of the mix. 
But you hear somebody say, ``Oh man, all we need is a bunch of windmills 
to make us run our economy;'' they just don't understand the complexity 
of the American economy. But we can use wind power effectively. And you 
know the new technologies that have gone into wind turbines. You're 
actually making some here in Lincoln.
    And then there's going to be different ways--and coal, by the way. 
We got about, I don't know, 250-300 years worth of coal. Seems like to 
me we ought to be figuring out how to use it and be--protect our 
economy. That's why I'm a big supporter of clean coal technologies.
    I believe you're going to be using batteries in your automobiles 
here within a reasonable period of time. And your automobile is not 
going to have to look like a golf cart. [Laughter] Battery technology is 
coming on line. That'll make it easier for us to say we're doing our 
part to conserve, that we're not using as much oil that we--as we used 
to.
    I'm a big believer in having our farmers grow crops that can be 
converted into fuel. I'd rather be paying U.S. farmers for fuel than 
people overseas for our fuel. So that's why I'm a big believer in 
ethanol. I also understand the strain that's putting on our chicken 
raisers and hog raisers; the strain that--being the price of corn. And 
therefore, we're spending a lot of your money--I think it's well spent--
to find cellulosic ethanol possibilities. That means wood--that's a 
fancy word for wood chips or switch grasses--all aiming--my point to you 
is, is that we're heading into a new era.
    There's not a single solution to make us less dependent on oil. 
There are a lot of solutions. And I fully believe that when my 
grandchildren are driving cars--and by the way, we've taken one step in 
that direction, called marriage--[laughter]--that there will be a whole 
different energy mix. The Government spends billions of dollars to 
encourage research and development toward that end. The private sector 
is spending billions of dollars toward research to that end.
    But I'm here to talk about the meantime, the interim, the right now. 
And if the United States of America cares about how much gasoline--the 
price of gasoline, then we better get after finding some supplies of oil 
and gas. And here are three practical ways to do so, and I'm calling on 
the Democrat leadership in the United States Congress to pass good 
legislation on behalf of the consumers of the United States of America.
    And so that's why I've come. It's also to thank you. I appreciate 
your patriotism; I appreciate your hard work; I appreciate you taking 
care of your families.
    And now I'd like to answer some questions, if you have any. After 
7\1/2\ years, if I can't figure out how to dodge them, I shouldn't--
[laughter]. If you don't have any questions, I can tell you a lot of 
interesting stories. [Laughter]
    Okay, I'll tell you a story. I was in Bucharest, Romania. There were 
200 and--about

[[Page 1042]]

200,000-plus people there in a town square that had come to hear the 
President of the United States say these words: ``An attack on one is an 
attack on all.'' That happens to be Article 5 of the NATO Treaty. This 
country had emerged from communism, had been admitted into NATO, and 
they were anxious to see the President basically say, ``We're allies and 
we'll protect each other from harm.''
    This is a square that was a pretty dimly lit square because it was 
raining. But there was one balcony that was lit very brightly, and so I 
asked the guy walking out there, I said, ``What's that balcony?'' He 
said, ``That's the balcony where the tyrant Ceausescu had given his last 
speech.'' And he and he wife were awful people; they were true tyrants. 
And it was lit because people always want to remember the difference 
between freedom and tyranny. So it's kind of a memorial to that last 
speech.
    President Iliescu introduced me; I walk up to the podium, and a full 
rainbow appears. I'm talking full-spectrum rainbow. And it was a 
startling moment, so I turned back to Laura, who was sitting behind me 
there, and I said, ``Look at that.'' Of course 200,000 heads whip around 
to look at it too. I was so amazed that my opening comment of the 
speech--I ad-libbed--was, ``God is smiling on Bucharest,'' because the 
rainbow ended exactly behind the balcony where the tyrant had given his 
last speech.
    Now you can look at that any way you want to look at it. I'll tell 
you how I looked at it, I looked at it as a sign that freedom is 
beautiful. That freedom brings peace; that freedom is not ours alone; 
that freedom is universal.
    And it's in the interest of the world, and the interest of the 
United States of America to fight and try to alleviate the tyranny of 
disease. And that's why tomorrow I'm going to sign a bill that commits 
the United States to dealing with HIV/AIDS on the continent of Africa--
and dealing with malaria. There's nothing more hopeless than somebody 
seeing their baby die because of a mosquito bite.
    The tyranny of government--if you believe in the universality of 
freedom like I do, then you shouldn't be surprised that when given a 
chance, people from all walks of life will do the hard work necessary to 
live in a free society.
    We're in an ideological conflict today between people who use murder 
as a weapon to impose their ideology versus those of us who believe in 
human rights and human dignity and the right for anybody to worship any 
way they see fit. And the way to defeat an ideology of hate is with an 
ideology of hope. And there's no more hopeful ideology than one that's 
based upon liberty.
    We're a blessed nation because we're a free nation. We're a blessed 
nation because we're a nation that understands there are 
responsibilities in this world. So I saw that rainbow, and I said I'm 
the fortunate--most fortunate man to be the President of this fabulous 
country. And to the best of my ability I will protect us from harm. And 
the long way to do so is to help others realize the blessings of living 
under liberty.
    It's a huge honor to be here with you today. It's a huge honor to 
represent our country. May God bless you, and may God continue to bless 
the United States of America.

Note: The President spoke at 3:46 p.m. In his remarks, he referred to 
George D. Blankenship, vice president, Cleveland operations, Lincoln 
Electric Company; Mayor Bill Cervenik of Euclid, OH; Representative John 
A. Boehner of Ohio; and former President Ion Iliescu of Romania. The 
Office of the Press Secretary also released a Spanish language 
transcript of these remarks.