FACT SHEET: President Obama’s Blueprint to Make The Most of America’s Energy Resources
February 13, 2012
In his State of the Union Address, President Obama laid out a Blueprint for an America Built to Last, underscoring his commitment to an all-of-the-above approach that develops every available source of American energy. This commitment includes the safe and responsible production of our oil and natural gas resources. Today, American oil production is at the highest level in eight years and last year we relied less on foreign oil than in any of the past 16 years.
At the same time, the President believes we need to double-down on clean energy in the United States. Transitioning to cleaner sources of energy will enhance our national security, protect the environment and public health, and grow our economy and create new jobs. Over the past few years, renewable energy use has nearly doubled. In fact, in 2011, the United States reclaimed the position as the world’s leading investor in clean energy – but staying on top will depend on smart, aggressive action moving forward.
President Obama will begin the second day of his post-State of the Union swing with an event at a UPS facility in Las Vegas, focusing on the importance of American workers developing American-made energy for an economy that’s built to last. Following this event, the President will travel to Buckley Air Force Base in Aurora, Colorado to deliver remarks on American energy and the steps his Administration is taking to promote energy security.
President Obama’s Plan to Advance Safe Production of Oil and Gas Resources To Create Jobs, Enhance Energy Security, and Cut Pollution
Make a new lease sale in the Gulf of Mexico to move forward on our national commitment to safe and responsible oil and gas development: In his State of the Union Address, the President directed the Department of Interior to finalize a national offshore energy plan that makes 75% of our potential offshore resources available for development by opening new areas for drilling in the Gulf and Alaska. On Thursday, the President will take a concrete step forward to develop our oil and gas resources, announcing that the Department of Interior will hold a new lease sale in the Gulf of Mexico. This lease sale will make approximately 38 million acres available, and could result in the production of 1 billion barrels of oil and 4 trillion cubic feet of natural gas.
Promote safe, responsible development of the near 100-year supply of natural gas, supporting more than 600,000 jobs while ensuring public health and safety: In 2009, we became the world’s leading producer of natural gas. In the State of the Union, the President directed the Administration to ensure safe shale gas development that, according to independent estimates, will support more than 600,000 jobs by the end of the decade. These actions will include moving forward with common-sense new rules to require disclosure of the chemicals used in fracking operations on public lands.
Reducing our dependence on oil by encouraging greater use of natural gas in transportation: The President’s plan includes: proposing new incentives for medium- and heavy-duty trucks that run on natural gas or other alternative fuels; launching a competitive grant program to support communities to overcome the barriers to natural gas vehicle deployment; developing transportation corridors that allow trucks fueled by liquefied natural gas to transport goods; and supporting programs to convert municipal buses and trucks to run on natural gas and to find new ways to convert and store natural gas.
Harnessing American ingenuity to catalyze breakthrough technologies for natural gas: The Advanced Research Projects Agency – Energy (ARPA-E) will announce a new research competition in the coming months that will engage our country’s brightest scientists, engineers and entrepreneurs to find ways to harness our abundant supplies of domestic natural gas to lessen our dependence of foreign oil for vehicles. The breakthrough technologies they will develop, whether they are for new ways to fuel our cars with natural gas or a method to turn that gas into liquid fuel, promise to break our dependence on foreign oil for our cars and trucks, allow us to breathe cleaner air, and ultimately save consumers at the pump. To date ARPA-E has hosted four rounds of competitions and attracted over 5000 applications from research teams, which has resulted in approximately 180 cutting edge projects.
The President’s Commitment to Clean Energy
Doubling the share of electricity from clean energy sources by 2035: The centerpiece of the Administration’s strategy is a Clean Energy Standard, or “CES” – a flexible approach that harnesses American ingenuity and innovation, and channels it toward a clean energy future. By creating a market here at home for innovative clean energy technologies, we will unleash the ingenuity of our entrepreneurs and ensure that America leads the world in clean energy.
Supporting clean energy with targeted tax incentives: The President supports renewing and extending a number of proven and successful provisions that are crucial to the continued growth of the domestic clean energy sector. This includes tax incentives for clean energy manufacturing, which could create up to 100,000 jobs, and the Production Tax Credit to support investment in the deployment of clean energy technologies like wind and solar.
Opening public lands for private investments in clean energy: To enhance energy security and create new jobs, the Department of the Interior is committed to issuing permits for 10 gigawatts of renewable generation capacity – enough to power 3 million homes – from new projects on our public lands by the end of 2012.
Securing renewable energy for the U.S. Navy: Securing a safe, clean and reliable energy supply for our nation’s defense forces is essential to carrying out missions vital to the security of the United States. The Department of Navy has committed to adding 1 gigawatt of renewable energy produced from sources like solar, wind, and geothermal to its energy portfolio for shore-side installations – enough to power 250,000 homes. Using existing authorities such as power purchase agreements, the Navy will ensure these energy projects are cost neutral and require no up-front investments by the government.