Obama has a vision for America to be energy independent. When he was a senator, he ridiculed Bush’s effort in tackling this issue. The following are excerpts from his speech, sharing his vision for fuel efficient cars and alternative fuels.
“With technology we have on the shelves right now and fuels we can grow right here in America, by 2025 we can reduce our oil imports by over 7.5. million barrels per day - an amount greater than all the oil we are expected to import from the entire Middle East.”
“We start by producing cars that use less oil. The auto industry has not been asked to raise fuel economy standards in seventeen years, and lately we've just stopped asking them to.”
“It's time for them to install those tanks (E85) in every single car they make, and it's time for the government to cover this small cost, which currently runs at just $100 per car. We should also make sure that from now on, every single automobile the government purchases is a flex-fuel vehicle.”
“It's also a time to start making E85 fueling stations more available to the public. Currently, only 681 out of 170,000 fueling stations in America offer E85 pumps. This is not acceptable. Every American should have the choice to fill up their car with E85 at any fueling station. And oil companies should stop standing in the way and join us in making this happen. If the big oil companies would devote just 1% of their first quarter profits this year to install E85 pumps, more than 7,000 service stations would be able to serve E85 to hungry motorists.”
“Finally, we should reduce the risk of investing in renewable fuels by providing loan guarantees and venture capital to those entrepreneurs with the best plans to develop and sell biofuels. And we should create a market for renewable fuels by ramping up the renewable fuel standard and creating an alternative diesel standard in this country that together would blend 65 billion gallons of renewable fuels into the petroleum supply each year.”