A new interpretation and theory of absolute motion/ absolute space and the speed of light is proposed. Ether theory and emission theory are not completely wrong, but only incomplete separately. The ether doesn’t exist. This paper proposes a new theory, Apparent Source Theory (AST), that is a fusion of ether theory and emission theory. 1. Space can exist independently of matter. In such an ideal empty universe/space, Galileo’s principle of relativity and (modified) emission theory (in which group velocity of light is constant relative to source, and phase velocity constant independent of source or observer velocity) hold. Sagnac, Michelson-Gale, Silvertooth effects do not exist in such space. 2. In our real universe, all matter in the universe create absolute space. Every cosmic massive object defines, or 'fixes' the space in its vicinity, the effect diminishing with distance. The absolute velocity of a body is the (mass and inverse squared distance ) weighed vector sum of the velocity of the body relative to all cosmic massive objects in the universe. Imagine a universe in which only the sun and a small comet exist and assume that they are in relative motion near to each other. Which one is moving? The sun is at rest (mass= 1.988x1030 Kg !) and the comet is moving! The sun defines, ‘fixes’ the space in its vicinity. 3. The effect of absolute motion is to create a change in path length, and not the speed, of light. There will be aberration for absolutely co-moving source and observer. The past position of a light source apparently changes relative to an observer due to absolute motion. The velocity of light is constant c relative to the apparent source, and not relative to the source. The center of the wave fronts neither stays at the point in space where the source was at the instant of emission (as in SRT and ether theories), nor move with the source as in emission theories. The center of the wave fronts moves with the apparent source. Relative to a detector on a rotating Sagnac device, the source appears farther away when 'looking' in the backward direction than when 'looking' in the forward direction. In free/empty space (or region of space far from cosmic massive objects) there will be no absolute motion and hence no ‘aberration’ for co-moving source and observer. 4. The speed of light is not affected by (distance from) cosmic massive objects. An experiment is proposed to repeat the Rosa and Dorsey experiment (1907) at different distances from the Earth to see any effect on vacuum permittivity and permeability. 5. In Galilean space and in absolute space with source at absolute rest, the phase velocity of light is always constant c independent of source or observer velocity, whereas the group velocity is variable. The apparent phase velocity c' of light relative to the source increases or decreases by the same amount of the velocity (V) of the observer, so that the phase velocity of light relative to the observer is always equal to c: c' + V = c (algebraic sum). Einstein’s thought experiment is interpreted or modified as follows: for an observer moving at the speed of light away from a light source that is at (absolute) rest, the phases will still move past the observer at the speed of light whereas the group will be frozen. This paper discloses the mystery behind the failure of many experiments to detect any dependence of the velocity of light on the velocity of the source. A fundamental flaw in conventional and modern Michelson-Morley experiments is disclosed. 6. The 'group' velocity of electrostatic fields is infinite, as confirmed by experiment done by A. Calcaterra, et al. But Coulomb’s law has to be modified for charge and observer in relative motion. The constancy of phase velocity of light is interpreted and extended to explain the ‘relativistic mass increase’ of the electron. The field gets apparently expanded or compressed for a moving observer or, equivalently for a moving charge. This is summarized as infinite 'group' velocity and constant (c) 'phase' velocity for electrostatic fields. The speed of gravity is shown to be equal to the speed of light, based on observed direction of Sun’s gravity on Earth, such as during eclipses. But it is not clear what is propagating in the case of gravity. The usual analogy between the electrostatic field and gravity may not be correct.