Remarks to the Small Business Administration's National Small Business Week Conference

Weekly Compilation of Presidential Documents, May 2, 2005

In other words, we're developing new technologies that will change the way we drive. See, I know what we're going to need to do for a generation to come. We need to get on a path away from the fossil fuel economy. If we want to be less dependent on foreign sources of energy, we must develop new ways to power automobiles. My administration is committed to finding those new ways, and we're working with industry to do so.

Ethanol is another promising source of energy. I like the idea of people growing corn that gets converted into fuel for cars and trucks. Our farmers can help us become less dependent on foreign oil. Technology is now under development that may one day allow us to get ethanol from agricultural and industrial waste.

We can produce another renewable fuel, biodiesel, from leftover fats and vegetable oils. I mean, we're exploring a lot of alternatives. Ethanol and biodiesel have got great potential. And that's why I've supported a flexible, cost-effective renewable fuel standard as part of the energy bill. This proposal would require fuel producers to include a certain percentage of ethanol and biodiesel in their fuel and would increase the amount of these renewables in our Nation's fuel supply. Listen, more corn means more ethanol, which means less imported oil.

Technology can also help us tap into a vital source that flows around us all the time, and that is wind. That's why I've asked Congress to provide 1.9 billion over 10 years for tax incentives for renewable energy technologies like wind, as well as residential solar heating systems and energy produced from landfill gas and biomass. An energy strategy must be comprehensive, all aimed at making us less dependent.

A third essential step toward greater energy independence is to harness the power of technology so we can continue to become better conservers of energy. Already, technology is helping us grow our economy while using less energy. For example, in 1997, the U.S. steel industry used 45 percent less energy to produce a ton of steel than it did in 1975. The forest and paper industry used 21 percent less energy to produce a ton of paper. In other words, we're making advances in conservation. And in the years ahead, if we're smart about what we do, we can become even more productive while conserving even more energy.

Technological advances are helping develop new products that give our consumers the same and even better performance at lower cost by using less energy. Think about this: You can buy a refrigerator that uses the same amount of power as a 75-watt light bulb. It's a remarkable advance when it comes to helping consumers save money on energy. Advances in energy-efficient windows keep hot and cold air in and prevent your dollars from flowing out. High efficiency light bulbs last longer than traditional ones, while requiring less electricity.

These and other technological advances are saving our consumers a lot of money, and there's more work to be done. Let me tell you this, in 2001, the average American family spent about half as much to heat its home as it did in 1978. Think about what's possible over the next 25 years. We can imagine a day when technologies like solar panels, high-efficiency appliances, and advanced installation will allow us to build zero-energy homes that produce as much energy as they consume. That's the promise that technology holds for us all.