WASHINGTON – President Obama discusses the need to harness American energy in order to reduce our dependence on oil and make the United States a magnet for new jobs. He highlights his all-of-the-above approach to American energy — including a proposal to establish an Energy Security Trust, which invests in research that will help shift our cars and trucks off of oil.
“We’ve put in place the toughest fuel economy standards in our history so that by the middle of the next decade, our cars will go twice as far on a gallon of gas. Over the life of a new car, the average family will save more than $8,000 at the pump. But the only way we’re going to break this cycle of spiking gas prices for good is to shift our cars and trucks off of oil for good.”