July 7, 2009
The House bill reflects the principles the President believes are essential for our nation’s energy future: decreasing our dependency on foreign oil, creating millions of new jobs in emerging clean-energy technologies, and reducing the pollution that is a danger to our children. I know there are a variety of proposals pending in the Senate that have the same goals, and I am looking forward to working with all the Committee members as you move forward on this effort.
Clean energy is to this decade and the next what the Space Race was to the 1950s and ‘60s, and
We are also coming late to the task of leading the world’s major greenhouse-gas emitters to reverse our collective emissions’ growth in time to avert catastrophic climactic changes that would severely harm
The necessary shared effort will not begin in earnest unless and until the
The advantage of the kind of legislation the President has called for is that it ramps up investment in developing new clean-energy technologies while giving companies an effective incentive to use those technologies to reduce greenhouse-gas pollution. It does so without raising taxes or increasing the deficit.
I do not mean to say that we can get something for nothing. But according to the Congressional Budget Office’s analysis of the American Clean Energy and Security Act, the net cost to the average American household in 2020 would be less than 50 cents a day. For the wealthiest fifth of American households, the net cost would be less than 70 cents a day. The poorest fifth would actually see a net gain of more than ten cents a day. That is what your economists have reported to you.
People have pointed out that the per-household impact would not be uniform across the country – that the costs would be higher in a few states where people drive very long distances and rely almost exclusively on coal for electricity. Yet even if the cost borne by the average family in such a state were double the national average, it still would be just a dollar a day.
That figure does not account for the economic benefits of saving our children from living with increased drought, fire, pests, flooding, and disease. It does not account for the benefit of decreasing our dependency on foreign oil. Can anyone honestly say that the head of an American household would not spend a dollar a day to safeguard the wellbeing of his or her children, to reduce the amount of money that we send overseas for oil, to place American entrepreneurs back in the lead of the global marketplace, and to create new American jobs that pay well and cannot be outsourced?
Labor unions support this kind of legislation because they know it will indeed create millions of high-paying American jobs that cannot be exported. Manufacturing companies support it because they know it will provide needed investment in research and development while creating markets for the American clean-energy technologies born from that investment.
Electric utilities support it because they know it will expand our use of reliable, domestic sources of energy like wind, solar, geothermal – and, yes, safer nuclear power – and, yes, cleaner coal.
Consumer advocates support it because they know it will strengthen the long-term economic foundation for all Americans without imposing short-term economic hardship on any Americans.
And environmental groups support it because they know it is our best chance of preventing catastrophic harm to public health and our natural environment.
Of course, there are still interest groups out there opposing this effort. But I think the tide is turning against the defenders of the status quo, who want more of the same policies that made us dependent on foreign oil and that caused
That is what the President wants. That is what I want. I believe many Senators want the same thing.
Please consider the Environmental Protection Agency a partner in this effort to get
Thank you. I look forward to answering your questions.