To date, however, alternative fuels and green vehicles require more resources to deliver less energy and transportation at greater cost.

WSJ: Opinion: Corporate Tax Cuts Needed

Mr. Obama and Democratic congressional leaders talk of creating several million green jobs through tax credits and grants to generate electricity from alternative fuels and encourage energy-efficient vehicles, and to retrofit government buildings and low-income housing to save energy.

WSJ: Opinion: Corporate Tax Cuts Needed

Their idea is compelling: Reduce dramatically the use of oil in America's transportation sector by utilizing existing technologies massively and rapidly to ramp up the availability of alternative fuels (ethanol, methanol and electricity) and the vehicles that can use them.

CENTERFORSECURITYPOLICY: The winning alternative

The former would involve affording consumers and businesses the opportunity to acquire vehicles powered not just by gasoline or diesel, but by alternative fuels like ethanol and methanol.

CENTERFORSECURITYPOLICY: For your country

Gunnar Lindstrom, who is charged with marketing Honda's alternative fuel vehicles in the U.S., believes that by 2020 six fuels will split the market: gasoline, diesel, biofuels, hydrogen, natural gas and electricity, perhaps working side by side in a single vehicle.

FORBES: Engineers Rule

President Obama will call for all new federal vehicles the government owns 600, 000 of them to run on alternative fuels after 2015, according to a preview of a major energy speech he will deliver today at Georgetown University.

FORBES: All new federal vehicles to run on alternative fuels after 2015