In his first press conference from the White House Rose Garden, President Barack Obama today spoke briefly today about a myriad of pressing issues, including his energy initiatives.
After covering the crisis in Iran, the president brought up the American Clean Energy and Security Act currently being debated in the House and headed towards a vote later this week. "This is historic legislation that will spark a clean energy transformation, which will reduce our dependence on foreign oil," the president said.
Obama commented that passage of the bill will create incentives to spur renewable energy development and energy savings. "These incentives will finally make clean energy a profitable kind of energy which will lead to new technologies and new industries that will create millions of new jobs that can’t be shipped overseas," he said. The president added that the nation that leads with a clean energy economy is the nation that will lead in the 21st century global economy.
Critics have warned that such legislation will end up costing American families more than $3,000 a year. However, new numbers from the Congressional Budget Office put that figure much lower. CBO says, by 2020, proposed climate legislation would cost an average of $175 per household, about $22 billion a year nationwide.