President Bush Global Warming speech, 4/16/08: Part 5, The wrong and right ways

The wrong way is to raise taxes, duplicate mandates, or demand sudden and drastic emissions cuts that have no chance of being realized and every chance of hurting our economy. The right way is to set realistic goals for reducing emissions consistent with advances in technology, while increasing our energy security and ensuring our economy can continue to prosper and grow.

The wrong way is to sharply increase gasoline prices, home heating bills for American families and the cost of energy for American businesses. The right way is to adopt policies that spur investment in the new technologies needed to reduce greenhouse gas emissions more cost-effectively in the longer term without placing unreasonable burdens on American consumers and workers in the short term.

The wrong way is to jeopardize our energy and economic security by abandoning nuclear power and our nation's huge reserves of coal. The right way is to promote more emission-free nuclear power and encourage the investments necessary to produce electricity from coal without releasing carbon into the air.

The wrong way is to unilaterally impose regulatory costs that put American businesses at a disadvantage with their competitors abroad -- which would simply drive American jobs overseas and increase emissions there. The right way is to ensure that all major economies are bound to take action and to work cooperatively with our partners for a fair and effective international climate agreement.

The wrong way is to threaten punitive tariffs and protectionist barriers, start a carbon-based global trade war, and to stifle the diffusion of new technologies. The right way is to work to make advanced technology affordable and available in the developing world -- by lowering trade barriers, creating a global free market for clean energy technologies, and enhancing international cooperation and technology investment.