Obama on Energy: U.S. Must Combat Climate Change

President Obama says economic opportunities tied to renewable energy initiatives.
3:00 | 02/12/13

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Transcript for Obama on Energy: U.S. Must Combat Climate Change
Today -- area. -- holds more promise than our investments in American energy. After hearing them talking about it. We're finally poised to control our own energy future. We produce more oil at home and we haven't fifteen years. Double the -- our cars will go on -- only gas. And in the amount of renewable energy we generate from sources like wind and sold with tens of thousands of good American jobs to -- We produce more natural gas than ever -- And nearly everyone's energy bill is lower because it. Over the last four years our missions of the dangerous carbon pollution that threatens our planet. Have actually Paul. But for the sake of our children and our future. We must do more to combat climate change. It's true that no single event makes -- -- But the fact it's the twelve hottest years on record. Have all calm in the last fifty. Heat waves. Droughts wildfires. Floods. All are now more frequent and more intense. We can choose to believe that super storm sandy and and the most severe drought in decades. And the worst wildfires some states have ever seen -- -- does state record incidents. Or we can choose to believe in the overwhelming judgment of science and act before it's too light. Now the good news is we can make meaningful progress on this issue while driving strong economic growth. I -- this congress to get together -- a bipartisan market based solution to climate change. But the one John McCain and Joseph Lieberman worked on together a few years ago. But if congress won't act soon to protect future generations. Are well. I will direct. -- will direct my cabinet to come up with executive actions we can take now and in the future. To reduce pollution. Prepare our communities for the consequences of climate change and speed the transition to more sustainable sources better. Four years ago other countries dominated the clean energy market and the job became what. We've begun to change that. Last year -- energy added nearly half of all new power capacity in America so let's generate even more. Solar energy gets cheaper by the year let's drive down costs even further. As long as countries like China keep going all in on clean energy so must we. In the meantime the natural gas boom has lead to cleaner power and greater energy independence. We need encouragement. That's why my administration will keep cutting red tape and speeding up new oil and gas permits. That's gotta be proud of all of the above plan. But I also want to work this congress to encourage the research and technology that helps natural -- gas burn even cleaner. And protects our -- Norwalk. In fact much of our newfound energy is drawn from lands and waters that we. The public -- together. So tonight I propose we use some of our oil and gas revenues to fund an energy security trust that will drive new research and technology. To shift our cars and trucks off world for good. If a nonpartisan coalition of CEOs and retired generals and admirals can get behind this idea. And soccer -- Let's take third bikes and three our families and businesses. From the -- spikes in gas prices. We put up with for far too long. I'm also issuing a new goal for America let's cut and head. Energy wasted by our homes and businesses over the next twenty years. Won't work with the states to vote. Those states -- the best ideas to create jobs and more energy bills by constructing more efficient buildings will receive federal support to help make that happen.

This transcript has been automatically generated and may not be 100% accurate.

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