The press conference was streamed live on bigcountryhomepage.com.
With a stroke of a pen President Obama gave the green light to tougher standards for auto emissions and fuel mileage.
Mr. Obama says his energy plan will make America safer, the planet cooler and will put people back to work.
He hopes to double our renewable energy capacity, modernize our power grid, weatherize our buildings and build better wastewater plants.
All are part of the Obama stimulus plan that would also renovate 10,000 schools, upgrade bridges and roads and guarantee health coverage to 29 million people hit by the recession.
The plan would also cut taxes for 95% of Americans
The projected cost is $850 billion, but President Obama he says it will save or create four million jobs.
Still, Republicans say the Obama plan is too expensive and not a quick stimulus.
"I think it's criminal that we're going do these public works projects, and only 30% of them will get out in the next two years," complained Kentucky Senator Jim Bunning.
The Obama point man on the economy, Treasury Secretary-designate, Tim Geithner, is up for confirmation later today.