President Obama delivered his weekly address to the American people on Saturday and the subject was "energy." To be more specific, "energy security." Following a tour and a speech at the Argonne National Laboratory in Lemont, Ill., President Obama made a pitch for a program he introduced during his State of the Union address: The Energy Security Trust.
Argonne National Lab is one of the Energy Department's largest national laboratories for scientific and engineering research, staffed by more than 1,250 scientists and engineers. White House officials said it was chosen as the site of the president's speech because of its tradition of research into vehicle technologies, such as battery technology. It was the perfect venue to discuss the "Energy Security Trust."
The goal of the "Energy Security Trust" is harnessing American's energy in order to reduce our dependence on oil and make the United States a magnet for new jobs. The President highlighted his “all-of-the-above” approach to American energy, including his proposal to establish an Energy Security Trust, which invests revenue from offshore oil and gas development in research that will help shift our cars and trucks off of oil.
Many American Presidents have talked about reducing dependence on foreign oil, starting with former President Jimmy Carter. None have succeeded to the extent that President Obama has succeeded as he said in his weekly address. "After years of talking about it, we’re finally poised to take control of our energy future. We produce more oil than we have in 15 years. We import less oil than we have in 20 years. We’ve doubled the amount of renewable energy we generate from sources like wind and solar – with tens of thousands of good jobs to show for it. We’re producing more natural gas than ever before – with hundreds of thousands of good jobs to show for it."
These investments in the "Energy Security Trust," are focused on a range of technologies including electric vehicles and advanced batteries as well as investments in advanced biofuels and cars that run on natural gas. In addition to reducing our nation’s dependence on oil, support job creation, increase energy security, and save families money at the pump, this program will also cut harmful carbon pollution.
President Obama aimed right at the negative impact of increasing oil prices at the pump saying that "we got a reminder that we need to do more. We went through another spike in gas prices, just like last year, and the year before that. It happens every year."
President Obama compared it to a tax increase. "It’s a serious blow to your budget – like getting hit with a new tax coming right out of your pocket."
"I called on Congress to set up an Energy Security Trust to fund research into new technologies that will help us reach that goal," said President Obama.
He then explained how it would work. "Much of our energy is drawn from lands and waters that we, the public, own together. So I’m proposing that we take some of our oil and gas revenues from public lands and put it towards research that will benefit the public, so that we can support American ingenuity without adding a dime to our deficit. We can support scientists who are designing new engines that are more energy efficient; developing cheaper batteries that go farther on a single charge; and devising new ways to fuel our cars and trucks with new sources of clean energy – like advanced biofuels and natural gas – so drivers can one day go coast-to-coast without using a drop of oil."
He credited the "Energy Security Trust to a non-partisan group. "It’s actually built off a proposal put forward by a non-partisan coalition of CEOs and retired generals and admirals." The group is led by FedEx Corp. Chairman and CEO Frederick W. Smith and retired Marine Corps Gen. P.X. Kelley which released the report and recommendations recently.
President Obama also emphasized his "all-of-the-above energy strategy." He explained by saying that "we produce more oil and gas here at home, but also more biofuels and fuel-efficient vehicles; more solar power and wind power. A strategy where we put more people to work building cars, homes and businesses that waste less energy."
All-of-the-above energy strategy has thus far worked. The "Energy Security Trust" will take it to the next level.
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John is the author of an award-winning book, the 2010 Winner of the USA National Best Book award for African American studies, published by The Elevator Group, Mr. and Mrs. Grassroots. Also available an eBook on Amazon. John is also a member of the Society of Midland Authors and is a book reviewer of political books for the New York Journal of Books . John has volunteered for many political campaigns.