In the State of the Union address this evening, which came two days before the next U.S.-hosted Major Economies Meeting on climate change, President Bush called on America to “trust in the creative genius” of entrepreneurs and scientists creating a new generation of clean energy technologies. Sticking to the Administration’s message on the need for additional research and development, the President outlined general steps to a clean energy future, including

• reducing dependence on oil;
• taking steps to generate coal power while capturing carbon; and
• promoting renewable power, nuclear energy, and renewable fuel options.

The President promoted the idea of an “international clean technology fund” to help China, India, and developing countries reduce their greenhouse gas emissions. This fund, which was floated during the Bali negotiations and which has continued to gain traction with the Administration, would help developing countries purchase cutting edge technologies to control emissions.

The President also asserted the need for an international agreement to “slow, stop, and eventually reverse the growth of greenhouse gases,” noting that any agreement on climate change will only be effective if it includes commitments from all countries.

For further information about this topic, please contact Akin Gump.