Update 1:11 PM EST (via The New York Times)
The following is the transcript of remarks delivered by Pope Benedict XVI as provided by CQ Transcriptions, Inc.
POPE BENEDICT XVI (THROUGH TRANSLATOR): Dear brothers and sisters, after our great pope, John Paul II, the cardinals have elected me, a simple, humble worker in God's vineyard.
I am consoled by the fact that the Lord knows how to work and how to act, even with insufficient tools, and I especially trust in your prayers.
In the joy of the resurrected Lord, trustful of his permanent help, we go ahead, sure that God will help, and Mary, his most beloved mother, stands on our side.
(UNKNOWN): Long live the pope!
BENEDICT (THROUGH TRANSLATOR): Thank you.
Let us proceed with the blessing.
Holy apostles, Peter and Paul, we trust in your power and in your authority. Please bless us through Lord Jesus, our lord, amen.
Through the prayers and intercession of our lady, blessed John Baptist and all the apostles, Peter and Paul, and all the saints, omnipotent God, have mercy on us, and please remit all our sins with the blessing of Jesus Christ, and lead us into the eternal life. Amen.
May there be indulgence and absolution and the remission of all your sins. After having repented duly, and may your life be blessed, and may you have the consolation of the grace of the Holy Spirit. And may, through your perseverance and your good works, the Lord, in his omnipotence and in his mercy, forgive you. Amen.
And I bless, through the Lord omnipotent, in the name of the Father and of the Son and of the Holy Spirit. May the blessing be upon you and always be with you.