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Obama: Innovative Energy Work Helps Economy

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Mar 23, 2009 1:00 pm US/Eastern

Obama: Innovative Energy Work Helps Economy

 Timeline: U.S. Credit Crunch & Financial Failures

WASHINGTON (AP) ― President Barack Obama is telling energy entrepreneurs that their creative work is necessary to turn the economy around.

Speaking to business owners and academics, Obama said that if necessity is the mother of invention, "at this moment of necessity we need you. We need inventiveness." He said their work on products such as electric cars and solar-tapping windows will enable the United States to end its dependence on foreign oil. It also will help create jobs.

He outlined an energy program that draws on the administration's $787 billion stimulus package for $39 billion at the Department of Energy and $20 billion in tax incentives for clean energy.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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