Obama Weekly Address

George Wenschhof



President Barack Obama discusses his plan to reinvest federal oil-and-gas drilling revenues into next-generation alternative energy technology, unveiled during his State of the Union address in February.

A key part of that plan, according to the White House, is the creation of an "Energy Security Trust," in which some offshore drilling royalties would be steered into development of technologies that help curb reliance on oil for transportation.

The money – $2 billion over a decade – would support research into advancing technology around electric vehicles, biofuels, fuel cells, and natural gas-powered vehicles, according to the White House.
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