June 27, 2009
Posted: June 27th, 2009 10:17 AM ET
From CNN Ticker Producer Alexander Mooney (CNN) - President Obama used his weekly radio and video address Saturday to praise an energy overhaul bill narrowly passed by the House of Representatives. "Make no mistake: this is a jobs bill," Obama said in the address. "We’re already seeing why this is true in the clean energy investments we’re making through the Recovery Act." Obama also said the legislation would wean America's dependence on foreign oil and cut down on pollution. "This legislation will finally make clean energy the profitable kind of energy," he said. "That will lead to the creation of new businesses and entire new industries." The bill, which passed 219-212 with little Republican support Friday evening, aims to reduce nationwide greenhouse gas emissions 17 percent by 2020 and 83 percent by 2050 through a so-called "cap-and-trade" program under which companies would buy and sell emissions credits. In his own video address Saturday, House Minority leader John Boehner argued the bill would have the unintended consequence of devastating the country's battered industrial base while pushing polluting industries to countries with lower environmental standards. Full text of Obama address after the jump
Filed under: President Obama
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