Transcripts

President Bush's Alternative Energy Odyssey

GHARIB: Paul, President Bush is on the road this week, promoting his new energy initiative and renewing his call for an end to the nation`s oil addiction. But while the president is talking about new spending initiatives, there`s no new money in the budget to spend. As Stephanie Dhue reports, the budget itself shows the money that`s there is just being moved around.

STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: President Bush visited the government funded National Renewable Energy Laboratory today. Two weeks ago, 32 workers, including eight researchers here were laid off after a budget cut. But over the weekend the administration found $5 million to restore the jobs.

BUSH: I recognize that there has been some interesting, let me say, mixed signals when it comes to funding. The issue, of course, is whether or not good intentions are met with actual dollars spent.

DHUE: Some critics are saying the same of the president`s budget for 2007. While it calls for increases in solar, wind, and biofuels research, it eliminates several renewable energy programs, including geothermal, hydropower and solar heating and lighting. It also zero`s funding for a program that promotes stronger building codes for energy efficiency. And it cuts by a third a weatherization assistance program that helps low income people make their homes more energy efficient. Senator Jeff Bingaman is the ranking Democrat on the Senate Energy Committee. He says the president`s budget falls short.

SEN. JEFF BINGAMAN (D) NEW MEXICO: Energy efficiency is an obvious area where his proposal is to cut funding for the development of technologies to help use energy more efficiently and I think that`s one of the great places that we could be making great progress.

DHUE: Energy Secretary Samuel Bodman says the cuts in efficiency programs reflect tough choices.

SAMEUL BODMAN, ENERGY SECRETARY: Do I wish that we had the money to fund that, sure I do, but this is a zero sum game, the way we have played it. DHUE: Observers say a better choice to reduce oil consumption would be to increase fuel efficiency standards for cars, trucks and SUVs.

PAUL BLEDSOE: The technologies are available. It`s simply whether the political courage exists to help the economy deploy them.

DHUE: But with U.S. auto makers struggling and congressional elections coming up, it`s an unlikely time for political courage. Stephanie Dhue, NIGHTLY BUSINESS REPORT, Washington.