10/18/06 Bush on Renewable Energy

Bush on Renewable Energy. I'm Greg Martin with today's Line On Agriculture. Building on the President`s vision for overcoming the nation`s energy challenge - U.S. Ag Secretary Mike Johanns and U.S. Energy Secretary Sam Bodman co-hosted a national renewable energy conference last week (week of October 9). After two days of government and industry speakers - President Bush spoke to conference attendees to wrap up the Advancing Renewable Fuels conference. And he explained exactly why he promotes corn-based ethanol. BUSH: I like the idea of promoting a fuel that relies upon our farmer. I happen to believe that a good farm economy is important to a good national economy and I also know it makes sense to have our farmers growing the feed stock for new energy. And according to Bush - the government can help the nation`s farmers move the ethanol industry forward. BUSH: For those of you, who are in the ethanol business, you are on the leading edge of change; it's coming. And the government can help. That's why we enhanced and extended the 10 cent per gallon tax credit. We did that to stimulate production. We've extended a 51 cent per gallon tax credit for ethanol blenders. In other words, I believe and Congress agrees that the proper use of tax credits will help stimulate a new industry that will help our economy and help us when it comes to national security. After all - President Bush says accelerating technology development will advance the nation`s move toward energy independence. And he says that will not only benefit the national economy - but the environment as well. BUSH: You know it's time to get rid of the old stale debates on the environment and recognize that new technologies are going to enable us to achieve new objectives at the same time. (applause) Technology will enable us to be able to say we can grow our economy and protect our environment at the same time. It's not a zero sum game anymore.(applause) These technological breakthroughs are going to say to our farmers , you're energy producers and that's good for America. But Bush says the U.S. needs a comprehensive approach to reducing the nation`s dependence on foreign sources of oil. And USDA Chief Economist says that will take much more than simply talk. COLLINS: America's undeniable need for energy today and tomorrow offers vast economic opportunity for bio-fuels. The opportunity makes me a bio-fuels cheerleader. At the same time, raising market shares at the point where U.S. crude oil imports are materially reduced poses a lot of issues that will not be overcome if our cheerleading obscures the need for careful analysis and thoughtful action. That's today's Line On Agriculture. I'm Greg Martin on the Northwest Ag Information Network.