You are here

Secretary Chu Highlights All-of-the-Above Energy Strategy in Senate Budget Testimony

February 16, 2012 - 11:25am

Addthis

WASHINGTON, DC -- U.S. Secretary of Energy Steven Chu today detailed President Barack Obama's $27.2 billion Fiscal Year 2013 budget request in testimony before the Senate Energy and Natural Resources Committee.  In his first hearing since the FY13 budget request was sent to Congress, Secretary Chu emphasized the President’s commitment to an all-of-the-above energy strategy that includes critical investments in innovation, in the job-creating clean energy technologies, and in our national security strategy.  

The budget request for the Department is part of the President’s blueprint for an American economy that is built to last based on American energy that is that’s cleaner, cheaper, and full of new jobs.  At the same time, the FY 2013 budget request also represents tough choices aimed at focusing taxpayer resources on areas that will yield the greatest benefit over time.   

The following are excerpts of Secretary Chu’s opening remarks as prepared for delivery:

-          On the Need for an All-of-the-Above Energy Strategy: To promote economic growth and strengthen national security, President Obama has called for “all-of-the-above strategy that develops every source of American energy...”  The President wants to fuel our economy with domestic energy resources while increasing our ability to compete in the clean energy race. 

-          On the Choice to Compete or Cede the Global Competition for Clean Energy Technology:  Our country faces a stark choice: we can create jobs making and exporting the energy technologies of tomorrow or we can cede leadership to other countries that are investing in these industries. 

-          On Investing in an American Economy that is Built to Last: Making the most of America’s energy resources is a pillar of the President’s economic blueprint to build an economy that lasts.  The Department’s FY 13 budget request of $27.2 billion is guided by the President’s vision, our 2011 Strategic Plan and our inaugural Quadrennial Technology Review.  It supports leadership in clean energy technologies; science and innovation; and nuclear security and environmental cleanup.

-          On The Need for Research & Development: Trillions of dollars will be invested in clean energy in the coming decades.  To seize this opportunity, the budget request invests in the research, development, manufacturing and deployment of energy technologies.

-          On Extending Clean Energy Tax Credits: To encourage manufacturing and deployment of clean energy technologies, the President has called for extending proven tax incentives including the Production Tax Credit, the 1603 program and the Advanced Energy Manufacturing Tax Credit. 

-          On Maximizing Energy Technology R&D:: To maximize our energy technology efforts, the Department is coordinating research and development across our basic and applied research programs as well as ARPA-E in areas including batteries, biofuels and electric grid technologies.

-          On Unleashing U.S. Innovation to Lead in the Global Economy: Competing in the new energy economy will require our country to harness all of our resources, including American ingenuity. To help keep the United States at the forefront of science and technology, the budget includes $5 billion for the Office of Science to support basic research that could lead to new discoveries and help solve energy challenges. 

-          On National Security: In addition to strengthening our economy, the budget request strengthens our security by providing $11.5 billion for the National Nuclear Security Administration. .. [T]he budget request includes $7.6 billion for Weapons Activities.  It also includes $1.1 billion for the Naval Reactors program. Additionally, it supports NNSA’s work to prevent nuclear terrorism, one of President Obama’s top priorities. 

-          On Our Commitment to Fiscal Responsibility: The budget request makes strategic investments to promote prosperity and security.  At the same time, we recognize the country’s fiscal challenges and are cutting back where we can.  We are committed to performing our work efficiently and effectively. 

The Energy Department’s complete FY 2013 Budget Request to Congress is available at: http://www.cfo.doe.gov/crOrg/cf30.htm.

Secretary Chu’s opening remarks, as prepared for delivery, are available HERE.

News Media Contact: (202) 586-4940

 

###

Addthis