Business News George W. Bush | Page 14

George W. Bush

14

Official portrait of George W. Bush

the long run, the solution is to reduce demand for oil by promoting alternative energy technologies. My administration has worked with Congress to invest in gas-saving technologies like advanced batteries and hydrogen fuel cells.... In the short run, the American economy will continue to rely largely on oil. And that means we need to increase supply, especially here at home. So my administration has repeatedly called on Congress to expand domestic oil production."

In his 2008 State of the Union Address, Bush announced that the U.S. would commit $2 billion over the next three years to a new international fund to promote clean energy technologies and fight climate change, saying, "Along with contributions from other countries, this fund will increase and accelerate the deployment of all forms of cleaner, more efficient technologies in developing

nations like India and China, and help leverage substantial private-sector capital by making clean energy projects more financially attractive." He also announced plans to reaffirm the United States' commitment to work with major economies, and, through the United Nations, to complete an international agreement that will slow, stop, and eventually reverse the growth of greenhouse gases; he stated, "This agreement will be effective only if it includes commitments by every major economy and gives none a free ride."

Federal funding for medical research involving the creation or destruction of human embryos through the Department of Health and Human Services and the National Institutes of Health has been forbidden by law since the passage in 1995 of the Dickey Amendment by Congress and the signature of President Bill Clinton. Bush has said that he supports adult stem cell research and has supported federal legislation that finances adult stem cell research. However, Bush did not support embryonic stem cell research. On August 9, 2001, Bush signed an executive order lifting the ban on federal funding for the 71 existing "lines" of stem cells, but the ability of these existing lines to provide an adequate medium for testing has been questioned. Testing can only be done on 12 of the original lines, and all of the approved lines have been cultured in contact with mouse cells, which creates safety issues that complicate development and approval of therapies from these lines. On July 19, 2006, Bush used his veto power for the first time in his presidency to veto the Stem Cell Research Enhancement Act. The bill