Washington — In this week’s address, President Obama spoke to the American people from the Argonne National Laboratory, which he toured earlier that day, about the facility’s focus on harnessing American energy in order to reduce our dependence on oil and make the United States a magnet for new jobs. The President highlighted his “all-of-the-above” approach to American energy, including his proposal to establish an Energy Security Trust, which invests revenue from offshore oil and gas development in research that will help shift our cars and trucks off of oil. These investments, which are focused on a range of technologies including electric vehicles and advanced batteries as well as investments in advanced biofuels and cars that run on natural gas, will continue to reduce our nation’s dependence on oil, support job creation, increase energy security, and save families money at the pump – all while cutting harmful carbon pollution. These efforts build on the historic steps taken in the President’s first term to protect consumers and reduce oil consumption, including the historic fuel economy standards established which will double the distance our cars can go on a gallon of gas. In line with those efforts, the Energy Security Trust will continue to create good jobs for the middle class as we take control of our energy future.
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