The New York Times (February 13, 2013, 12:25 pm) – In his State of the Union message on Tuesday night, President Obama proposed the creation of an “Energy Security Trust” to find alternatives to dependence on oil for the nation’s transportation needs. The trust would be financed from revenue from oil and gas royalties that the federal government collects from companies that drill on federal land.
As is customary in State of the Union speeches, Mr. Obama did not give much detail, but plenty of other voices were happy to fill in the blanks on Wednesday morning. The idea has obvious political appeal – using oil revenues to wean the country from oil – but it has a way to go before reaching fruition.
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