But to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America.
If the price of a good goes up, people demand less of it, the companies figure out how to make more of it, and everyone tries to figure out how to produce substitutes for it. Add to that the march of technical innovation. The end result: markets figure out how to deal with problems of supply and demand.
One oil ad recently speaks of 'making oil supply more available' in order to lower prices.
But it take eons to make oil, and only a few years to extract it from the Earth. That is the basic problem we face.
