President Obama Updates America’s Energy Strategy

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US president Obama updates America's energy status
US president Obama at the Oval office. Photo: White House

President Obama updates America’s energy strategy.

The President visited the Argonne National Laboratory today in Argonne, Illinois, to give a major speech on the future of American energy. A new, USD 2 billion dollar program called the energy security trust was announced which gives focus to the administration’s plans for more renewable energy and proposes lower subsidies for fossil fuels.

Much of the resulting policy statement is based upon information supplied to the administration by the nonpartisan, Securing America’s Future Energy (SAFE) which represents senior business and former military leaders on both ends of the American political spectrum.

Here are the main points of the energy security trust – more detailed information is available by clicking here and here. And you can read the transcript of the President’s speech today in Argonne, Illinois, as compiled by the Chicago Sun-Times here.

By 2020, the President and Energy Secretary Steven Chu want the US;

  • To double the present level of U.S. renewable electricity generation
  • To double American energy productivity (by 2030)
  • To cut energy waste in the U.S. by half over the next twenty years
  • To invest in technology promoting energy efficiency & reduced waste
  • To cut net oil imports in half by the end of the decade
  • To enable safer production & cleaner electricity from natural gas
  • To promote safe & responsible oil and natural gas development
  • To assist the Nation’s truck fleets to adopt natural gas & alternative fuels
  • To improve energy efficiency through the Better Buildings Challenge program
  • To help U.S. states cut energy waste, improve efficiency & modernize grids
  • To streamline Interior Department regulations for faster project permitting
  • To work with the G20 & other fora to phase-out fossil fuel subsidies worldwide
  • To work with the IEA & others to strengthen energy security
  • To promote energy efficiency & development & deployment of clean energy via Clean Energy Ministerial & other international fora
  • To promote safe & secure nuclear power in nations pursuing nuclear energy
  • To design a responsible nuclear waste strategy for the U.S.
As the President continues to pursue his ‘all-of-the-above’ energy strategy, it should be noted that significant progress has already been made. As President Obama stated in his speech today,
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“We produce more oil than we have in 15 years. We import less oil than we have in 20 years. We’ve doubled the amount of renewable energy that we generate from sources like wind and solar. We have tens of thousands of good jobs to show for it.

We’re producing more natural gas than we ever have before with hundreds of thousands of good jobs to show for it. We supported the first new nuclear power plant in America since the 1970’s. And we’re sending less carbon pollution into the environment than we have in nearly 20 years. So we’re making real progress across the board.”

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All of this is adding up to huge changes in the American energy sector and for the producers, consumers and investors of energy. By 2020 the energy map will bear scant resemblance to our present-day energy model. And that means that seven years from now, the air in and around large U.S. cities will be the cleaner for it.

Here’s an Infographic on President Obama’s Energy Security Trust plan and how it works.

US Energy Security Trust Infographic
US Energy Security Trust Infographic. Image credit-White House

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