Bush cautions against complacency as gasoline prices fall

With gasoline prices falling across the country, President George W. Bush warned against becoming complacent about the need to cut the nation's reliance on oil. "We're too dependent on oil. Low gasoline prices may mask that concern," Bush told a government-sponsored energy conference in St. Louis. "This country's got to use its talent and its wealth to get us off oil," Bush said, adding that the government's role is largely to prod new investment. He called for the research and development tax credit, which currently expires yearly, to be made permanent, and touted the government's use of tax credits to promote hybrid vehicles, new battery technologies, and ethanol.

Bush outlined other components of his energy strategy - investment in biodiesel, encouraging hydrogen fuel cells, finding new oil and gas sources through offshore drilling, and promoting nuclear, solar and wind power. "Now's the time to accelerate the expansion of nuclear power for the sake of national and economic security," Bush said.

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