I'm not a "supporter" of any american president and I did not bother listening to the speech; however I do think the US does need some sort of long term energy policy. Making alternative energy available only works if there is an incentive to use it; i.e., if the cost of oil is allowed to increase significantly. American oil prices (and the cost of energy, in general) is much to low to encourage less use or the conversion to other energy sources.

The obvious problem is the short term impact on the economy, which is already "slow" in some parts of the US. Will the development of other energy sources provide an economic boost to the overall economy, or will it be limited to some very specific sectors? Can the US afford higher energy prices during this "recovery," or will it slow growth too much?

It will be interesting to watch what happens over the next 5-10 years.