Obama wants U.S. to be tops in clean, renewable energy
WASHINGTON -- President Obama said Monday the nation must move quickly to develop clean and innovative sources of energy after years of delay.
"We've seen enough," Obama said at a White House event intended to draw attention to his energy proposals. "We can remain the world's leading importer of foreign oil, or we can become the world's leading exporter of renewable energy."
The president's comments came following a weekend in which administration officials indicated his campaign promise to explore new sources of renewable energy is a non-negotiable element of his budget. Obama is devoting much of his time trying to build support for his $3.6 trillion budget proposal.
Speaking to entrepreneurs in the fields of energy, Obama said their country needs them to create jobs. In turn, he said: "Your country will support you. Your president will support you."
The already-passed $787 billion stimulus package includes $39 billion for the Department of Energy and $20 billion in tax incentives for clean energy.
The proposed budget calls for making a tax credit for research and experimentation permanent. It also would invest billions in research designed to reduce climate change and guarantee loans for companies that develop clean energy.
Facing some political pressure to scale back all of his priorities, the president said energy innovation cannot wait. Progress can take years, he said. "Sometimes you have to fail before you can succeed," Obama said. "And often it takes not just the commitment of an innovator but the commitment of a country to innovation. Often what's required is the support of government."
His budget faces opposition from members of both parties.
Some Democrats worry that the plan inflates deficit spending. The Congressional Budget Office estimates Obama's budget would generate $9.3 trillion in red ink over the next decade.
Many Republicans say the president's budget would impose massive tax increases, including on polluters. The government, they claim, could raise billions from companies that use unclean fuels, what GOP leaders called a carbon tax.
