A competitive America is also America that finally has a smart energy policy. We know there’s no silver bullet here. We understand that to reduce our dependence on oil and the damage caused by climate change, we're going to need more production in the short term, we're going to need more efficiency, and we need more incentives for clean energy.
And already, the Recovery Act has allowed us to jump-start the clean energy industry in America -– an investment that will lead to 720,000 clean energy jobs by the year 2012. To take just one example, the United States used to make less than 2 percent of the world’s advanced batteries for hybrid cars. By 2015, we’ll have enough capacity to make up to 40 percent of these batteries.