it is appropriate I comment on the announced position by our Vice President today on his program to lower oil imports and stabilize climate change. As identified in the AP summary of June 27, under a program to ``lower oil import and stabilize climate,'' the Vice President's plan for a national energy security and environmental trust fund calls ``for diverting more than $80 billion over the next 10 years from projected Federal budget surpluses for tax incentives to drive investment in energy efficient technologies for transportation and energy use.'' Notice it doesn't identify any new source of energy to relieve the shortage. He proposes in a $4.2 billion program to encourage electric production from renewable energy sources such as wind, solar, and $1 billion for accelerated depreciation for investments and distributed power assets. But the bulk of the plan is expected to cost $68 billion over the next decade and is dedicated to what Gore calls a technology for tomorrow, a competitive program designed to provide tax relief, loans, grants, bonds, and other financial instruments for emission reduction at powerplants and industrial facilities. He doesn't mention one word about what kind of energy he proposes we are going to use. He indicates we will harness that uniquely American power of innovation. Innovation will not go in your gas tank and get you home or get you on a vacation.
Editor's note · Context
Discussing the Vice President's energy plan and its implications for oil imports and climate change.
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