Olmert Lauds U.S.-Israel Energy CooperationAct in Address to Joint Session of Congress

Washington, D.C. - Israeli Prime Minister Ehud Olmert on Wednesday lauded legislation by Congressmen Brad Sherman and John Shadegg to promote U.S. and Israeli cooperation on efforts to develop alternative energy technology.

Sherman and Shadegg introduced bipartisan legislation to encourage companies and academic researchers from the close allies to work together on alternative energy projects.

In his address to the special session of Congress, Olmert said the United States and Israel œshare a desire for energy security.

The prime minister added that the United States-Israel Energy Cooperation Act would œincrease efforts to find advanced scientific and technological solutions designed to develop new energy sources.

œThe comments by the prime minister are a welcome contribution to the important discussion about how we can reduce our reliance on foreign oil, Sherman said. œHis remarks underscored the importance of achieving energy independence by promoting efficient use of traditional energy sources as well as research into alternative energy sources.

The Shadegg-Sherman legislation builds on existing bi-national efforts which have already made possible many scientific breakthroughs in the fields of life sciences, medicine, bioengineering, agriculture, biotechnology and communications.

The measure would create a $20 million annual grant program administered by the Department of Energy to provide grants to joint ventures.

Sherman introduced the same legislation as the sole sponsor in the last Congress, and reintroduced the legislation with Shadegg earlier in this Congress.