The US president, in this annual address to the nation, has called for a reduction in US conusmption of imported oil. The light at the end of the tunnel is apparently something called 'better technology' which will make the oil economy thing of the past. Pardon my cynicism. Some initiatives seem to include
A six-year goal for making the alternative fuel ethanol practical and competitive, and vowed to fund additional research into ways to make ethanol not just from the commonly used corn but also from wood-chips or grasses.
The goal, he said, is to "move beyond a petroleum-based economy, and make our dependence on Middle Eastern oil a thing of the past."
Critics doubted Bush ever really severed his ties from the oil industry and were skeptical he would put the kind of effort into conservation and alternative-fuel research they say is needed. His previous energy initiatives have had little impact on prices or supplies.
This is like Al Capone making a speech favouring prohibition. The president's connections to the oil industry are well known. While the ethanol factor looks good on paper, fact of the matter is that corn ethanol is a petrochemical based industry and not really renewable like Jethropa oil et al. Some of these factors have been explored here and here.