"In Bush's vision, drivers will stop at hydrogen stations and fill their fuel-cell cars with the pollution-free fuel. Or they would power their engines with ethanol made from trash or corn. More Americans would run their lights at home on solar power.How consistent do you think the President's vision is with the economic vision? Are there aspects of the President's vision that are likely to be associated with market failures?
Bush has been talking about these ideas since his first year in office. Proposals aimed at spreading the use of ethanol, hydrogen and renewable fuels all were part of the energy bill that he signed into law in August, but that hasn't eased Americans' worries about high fuel prices.
Americans were hit with the biggest jump in energy prices in 15 years in 2005, and worries about the cost of gas and heating oil have damped spirits about the economy despite other recent encouraging signs.
Add in the unrest in the Middle East, and energy becomes a major problem for the president to address Tuesday night.
'I agree with Americans who understand being hooked on foreign oil as an economic problem and a national security problem,' Bush said in a recent interview with CBS.
Eight in 10 Americans surveyed earlier this month by the Pew Research Center for the People & the Press said gasoline prices were a big problem."
Tuesday, January 31, 2006