Washington (Platts)--28Jan2008

President Bush in his final State of the Union address Monday night will
call for Congress to provide $2 billion over the next three years for a new
international clean energy technology fund, which would help deploy low-carbon
technology in developing nations around the world, the White House said.

Bush first announced his intention to create the fund at a US-led
global-warming summit in September.

"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," according to a White House release of portions of his prepared
remarks.

Bush is not expected to call for a mandatory carbon reduction bill like
the ones championed by Democratic leaders in Congress, and will instead commit
only to "work with" the on UN on international talks aimed at creating a new
treaty on CO2 reduction after the Kyoto Protocol expires in 2012. The US did
not ratify Kyoto.

"Let us complete an international agreement that has the potential to
slow, stop, and eventually reverse the growth of greenhouse gases," the
remarks read. "This agreement will be effective only if it includes
commitments by every major economy and gives none a free ride."

--Jean Chemnick, jean_chemnick@platts.com