US President Barack Obama on Saturday made a strong pitch for turning to green energy resources, asking the US Congress to stop doling out massive subsidies to oil companies and instead use those resources to invest in clean energy.
In his weekly radio address, Obama said the US should be investing in technology that cuts the use of conventional sources of energy and prevent the high gas bills.
“We have a choice. Right now, some folks in Washington would rather spend another $4 billion on subsidies to oil companies each year... We’ve been handing out these kinds of taxpayer giveaways for nearly a century. And outside of Congress, does anyone really think that’s still a good idea?” Obama asked. “I want this Congress to stop the giveaways to an oil industry that’s never been more profitable, and invest in a clean energy industry that’s never been more promising,” he said.
Obama cited the recent spike in gas prices as a painful reminder of why the US needs to invest in clean technologies.
“As usual, politicians have been rolling out their three-point plans for two-dollar gas: drill, drill, and drill some more. Well, my response is, we have been drilling. Under my administration, oil production in America is at an eight-year high. We’ve quadrupled the number of operating oil rigs, and opened up millions of acres for drilling,” he said.
He said with just two per cent of the world’s oil reserves, the US cannot go on drilling its way to lower gas prices while consuming 20 per cent of the world’s oil.
“We need an all-of-the-above strategy that relies less on foreign oil and more on American-made energy – solar, wind, natural gas, biofuels, and more,” he said.
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After 30 years of inaction, he said, his administration has finally put in place new standards that will make sure its cars average nearly 55 miles per gallon by the middle of the next decade – nearly double what they get on Saturday.
“This wasn't easy: we had to bring together auto companies, and unions, and folks who don't ordinarily see eye to eye. But it was worth it,” he said.
“Because these cars aren’t some pie in the sky solution that’s years away. They’re being built right now – by American workers, in factories right here in the USA. Every year, our cars and trucks will be able to go further and use less fuel, and pretty soon, you’ll be able to fill up every two weeks instead of every week – something that, over time, will save the typical family more than $8,000 at the pump.
“We’ll reduce our oil consumption by more than 12 billion barrels. That’s a future worth investing in,” Obama said.