Remarks About Proposed Legislation To Increase Enriched Uranium Production

I WILL read a statement before signing the message or messages that will go to the Congress.

Because our oil and natural gas resources are fast being depleted, we must rely more and more on nuclear power as a major source of energy for the future.

Today, I am asking the Congress to join me in embarking the Nation on an exciting new course of action which will help to assure the energy independence that we need and significantly strengthen our economy at home at the same time. I am referring to the establishment of an entirely new competitive industry to provide uranium enrichment service for nuclear power reactors.

The legislation that I am seeking will reinforce the world leadership we now enjoy in uranium enrichment technology. It will help ensure the continued availability of reliable energy for America. It will move America one big step nearer energy independence.

This legislation will insure that the billions of dollars required for the construction of new enrichment plants will be borne by the private sector, not by the American taxpayer. But all of us will benefit directly from the service which private enterprise will provide.

I urge the Congress to act swiftly and favorably on this important new energy initiative. With this comprehensive approach, the United States can reopen its uranium enrichment "order book," reassert its supremacy as the world's major supplier of enriched uranium, and develop a strong private enrichment industry to help bolster the national economy.

So, it is with pleasure and hope that I sign the message to go to both the House and the Senate and ask the Congress to move as rapidly as possible in order that we can achieve the objectives which are so important.

Thank you very much.