THE PRESIDENT: Good morning. This coming week, I will visit Wisconsin, Michigan, and Colorado, to discuss our strategy to ensure that America has affordable, reliable, and secure sources of energy. The best way to meet our growing energy needs is through advances in technology. So in my State of the Union Address, I announced the Advanced Energy Initiative. We will pursue promising technologies that will transform how we power our vehicles, businesses, and homes -- so we can reduce our Nation's dependence on foreign sources of energy.

This morning, I want to speak to you about one part of this initiative: our plans to expand the use of safe and clean nuclear power. Nuclear power generates large amounts of low-cost electricity without emitting air pollution or greenhouse gases. Yet nuclear power now produces only about 20 percent of America's electricity. It has the potential to play an even greater role. For example, over the past three decades, France has built 58 nuclear power plants and now gets more than 78 percent of its electricity from nuclear power. Yet here in America, we have not ordered a new nuclear power plant since the 1970s. So last summer I signed energy legislation that offered incentives to encourage the building of new nuclear plants in America. Our goal is to start the construction of new nuclear power plants by the end of this decade.

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As America and other nations build more nuclear power plants, we must work together to address two challenges: We must dispose of nuclear waste safely, and we must keep nuclear technology and material out of the hands of terrorist networks and terrorist states.

To meet these challenges, my Administration has announced a bold new proposal called the Global Nuclear Energy Partnership. Under this partnership, America will work with nations that have advanced civilian nuclear energy programs, such as France, Japan, and Russia. Together, we will develop and deploy innovative, advanced reactors and new methods to recycle spent nuclear fuel. This will allow us to produce more energy, while dramatically reducing the amount of nuclear waste and eliminating the nuclear byproducts that unstable regimes or terrorists could use to make weapons.

As these technologies are developed, we will work with our partners to help developing countries meet their growing energy needs by providing them with small-scale reactors that will be secure and cost-effective. We will also ensure that these developing nations have a reliable nuclear fuel supply. In exchange, these countries would agree to use nuclear power only for civilian purposes and forego uranium enrichment and reprocessing activities that can be used to develop nuclear weapons. My new budget includes $250 million to launch this initiative. By working with other nations under the Global Nuclear Energy Partnership, we can provide the cheap, safe, and clean energy that growing economies need, while reducing the risk of nuclear proliferation.

As we expand our use of nuclear power, we're also pursuing a broader strategy to meet our energy needs. We're investing in technologies like solar and wind power and clean coal to power our homes and businesses. We're also investing in new car technologies like plug-in hybrid cars and in alternative fuels for automobiles like ethanol and biodiesel.

Transforming our energy supply will demand creativity and determination, and America has these qualities in abundance. Our Nation will continue to lead the world in innovation and technology. And by building a global partnership to spread the benefits of nuclear power, we'll create a safer, cleaner, and more prosperous world for future generations.

Thank you for listening.

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