Obama: Time to Create the Energy Security Trust

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　　He said that is why he asked Congress in his State of the Union address to establish an Energy Security Trust to investigate new technologies for oil-free vehicles.

　　President Obama said in his weekly address Saturday that oil and gas revenues from public lands could supply the money for the research "without adding a dime²" to the deficit³.

　　Obama recorded his address near Chicago at the Argonne National Laboratory, which has conducted groundbreaking research on advanced car battery technology that reduces the need for oil and gas in vehicles.

　　In the Republican address, House of Representatives Budget Committee Chairman Paul Ryan, who was a candidate for vice⁴ president last year, said Republicans have a plan to balance the federal budget in 10 years by cutting spending and not raising taxes.

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