Clearly the first great challenge that our country faces in the 21st century is availability and affordability of energy. The Bush Administration inherited this problem because there was no prior national energy policy. As the co-chairman of the Renewable Energy and Energy Efficiency Caucus, I see this as both a demand problem and a supply problem. We can't simply reduce demand unless we're willing to sacrifice American productivity - and we obviously don't want that. We want a soaring, booming economy! We've got to slow the growth of demand and dramatically increase the supply of energy at all levels and on all fronts. A balanced approach recognizes that we can't conserve our way out of this problem, but we can't pump our way out either. We've got to do both. There are many things that must be done simultaneously to slow the growth of demand.

At the same time, we clearly have to be aggressive in searching for new energy supplies if we're going to have a long-term energy policy that serves the country and the world.

What Bill Gates has done for information technology in the last 15 to 20 years could be done for environmental and energy technologies. New energy research and development would give our economy a real boost, solve the world's energy problems and be environmentally friendly. Energy technology is developing and advancing, but it's going to take the American entrepreneurial spirit working with the Federal Government. We haven't had a comprehensive strategy to develop these new techniques, and we need one now.

A lot of people want an answer today, but we are giving them solutions for tomorrow and the future. A balanced approach in which we increase supply and reduce demand is absolutely essential, but reverting back to the government response of greater regulation will only make the problem worse.

We must address the energy problem for the sake of working Americans because we want to maintain our productivity while at the same time reducing the price of energy and increasing the availability. The President's strategy will pay off in the long run. He inherited a huge mess and we are working together to solve this problem.

President Bush has announced his long-term energy policy, and he is clearly looking to the future by diversifying energy supplies while using inventive ways to reduce the growth of demand. It is encouraging to work alongside a President who also shares this vision of using advanced energy technology to expand our economy, promote conservation and protect our environment. He recognizes that energy needs and environmental concerns are not mutually exclusive. He also knows that trusting the ingenuity of America entrepreneurs is a far better solution than applying a government-regulated fix to our energy problems.

We are at peak energy consumption in this country. We are using all of the natural gas and petroleum we can get our hands on. However, we don't have any nuclear plants or fossil fuel plants under construction in this country; AND we are the most productive society in the history of the world. Without new supplies coming online, our soaring economy and increased productivity have caused this shortage. We've got to lift the lid and increase supply but also have to recognize there are intelligent ways to use technology to reduce demand.

Americans are smart people. Our business leaders are some of the brightest individuals in the world, and that's why our economy has roared for the last 10 years. So as we look for new sources whether it be the Arctic National Wildlife Refuge natural gas supplies, reopening refineries or nuclear plants, let's use the latest technology. Let's unleash the American entrepreneurial spirit that made this country great. We need, through our tax code, to give credit to and encourage those kind of investments from the private sector so the same kind of renaissance can happen in energy technology that happened in information technology.

We can do it! Let's be bold and smart. We must increase supply AND reduce the growth of demand, but we must do it right and we must do it responsibly.