In the annual State of the Union address, President Georg Bush not only talked about tax dollars and the war in Iraq, but also announced committed $2 billion over the next three years to the climate change fund. Bush vowed to work with the United Nations on an international agreement that he believes can reverse the rise in greenhouse gas emissions.

"Let us create a new international clean technology fund, which will help developing nations like India and China make greater use of clean energy sources," Bush said.
This agreement will be effective only if it includes commitments by every major economy and gives none a free ride. The United States is committed to strengthening our energy security and confronting global climate change."

Bush also addressed the topic of working towards new sources of renewable fuel.

"To build a future of energy security, we must trust in the creative genius of American researchers and entrepreneurs and empower them to pioneer a new generation of clean energy technology. Our security, our prosperity and our environment all require reducing our dependence on oil," Bush said.

In last year's speech, Bush announced a significant overhaul of U.S. energy policy, and this past December, Congress passed a bill that Bush signed into law that improves fuel efficiency, increases the use of ethanol, makes appliances and light bulbs more energy efficient.

Do you think $2 billion is a good enough start? Is Bush right in his belief that money will be able to help reverse the growth of greenhouse gases?

» Reuters Environment