Stemergy: Renewable Fibre Technology

Obama will "harness the sun and the winds and the soil to fuel our cars and run our factories."

20 January 2009

Harry Stoffer

Automotive News

WASHINGTON -- President Barack Obama pledged today to invest tens of billions of taxpayer dollars in advanced technology and alternative fuels and materials for future cars and trucks.

In his inaugural address as the 44th president of the United States, Obama said his administration intends to "harness the sun and the winds and the soil to fuel our cars and run our factories."

The promise is tied to Obama's commitments to reduce greenhouse gas emissions and U.S. reliance on imported oil.

"Each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet," the new president said in his 19-minute speech. He pledged to look for ways "not only to create jobs but to lay a new foundation for growth."

Obama conceded the many challenges that face his presidency: "There are some who question the scale of our ambitions -- who suggest that our system cannot tolerate too many big plans."

But he added: "Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose and necessity to courage."

The president reconfirmed his faith in market forces. But he said the current global economic crisis proves that "without a watchful eye, the market can spin out of control -- and that a nation cannot prosper long when it favors only the prosperous."


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About Stemergy

Stemergy bio-fiber is focused on producing and supplying renewable bio-fibres - derived from annual stem fiber plants such as flax and hemp - to the expanding global bio-fiber marketplace.