ARGONNE, Illinois, March 15, 2013 (ENS) – President Barack Obama today again called on Congress to establish a $2 billion Energy Security Trust for investments in research that will make the vehicle and fuel technologies of the future cheaper and better.
Speaking at the Argonne National Laboratory outside Chicago, where scientists have done breakthrough research in advanced batteries, President Obama reiterated the Energy Security Trust proposal he made in his State of the Union speech last month.
President Obama
President Barack Obama at Argonne National Lab, March 15, 2013 (Photo courtesy Argonne)
Concerned about the chilling effect of sequester budget cuts on scientific advancement, President Obama said an Energy Security Trust would help to keep scientists working. A trust fund would allow the government to “support American ingenuity without adding a dime to our deficit,” Obama said.
“We can support scientists who are designing new engines that are more energy efficient; support scientists that are developing cheaper batteries that can go farther on a single charge; support scientists and engineers that are devising new ways to fuel our cars and trucks with new sources of clean energy – like advanced biofuels and natural gas – so drivers can one day go coast to coast without using a drop of oil,” the President said.