Transcript

OBAMA:

We will do this. Washington -- Washington has been talking about our oil addiction for the last 30 years. And, by the way, John McCain has been there for 26 of them.

(LAUGHTER)

And in that time, he has said no to higher fuel-efficiency standards for cars, no to investments in renewable energy, no to renewable fuels. And today, we import triple the amount of oil than we had on the day that Senator McCain took office.

Now is the time to end this addiction and to understand that drilling is a stop-gap measure, not a long-term solution, not even close.

(APPLAUSE)

As president, as president, I will tap our natural gas reserves, invest in clean coal technology, and find ways to safely harness nuclear power. I'll help our auto companies re-tool, so that the fuel-efficient cars of the future are built right here in America.

(APPLAUSE)

I'll make it easier for the American people to afford these new cars. And I'll invest $150 billion over the next decade in affordable, renewable sources of energy -- wind power, and solar power and the next generation of biofuels -- an investment that will lead to new industries and 5 million new jobs that pay well and can't be outsourced.

The full transcript is available at The NYTimes on-line.