January 6, 2006
Pittsburgh Energy Summit 2006
Remarks Prepared for Energy Secretary Bodman
Before I begin I want to take note of the tragedy in West Virginia this week. On behalf of the entire Department of Energy, let me extend our deepest condolences to the families of the miners who were killed.
I want to thank you for the opportunity to speak at this forum of business and community leaders to discuss how the Energy Policy Act of 2005 will affect jobs and the economy, particularly here in Pennsylvania.
The strong performance of the U.S. economy is giving Americans a great deal to be proud of and every reason to be optimistic about the future. The economy grew 4.1 percent in the third quarter of 2005; and we have added almost four-and-a-half million jobs in just over two years - including, 126,000 jobs here in Pennsylvania.
In fact, the latest figures released just this morning by the Bureau of Labor Statistics show that 108,000 jobs were created in the month of December and revisions to previous months added 71,000 jobs. That combined with adjusted numbers from October and November brought the unemployment rate down to 4.9 percent, which is lower than the average of the 1970s, 1980s, and 1990s.
Now, our economy has weathered enormous challenges over the past few years: from an inherited recession, to the attacks of 9/11, and more recently, the devastating Gulf Coast hurricanes which had such a dramatic impact not only on the residents there, but on the nation’s oil and gas production.
Much of this production back online. And the President has implemented pro-growth economic policies, such as Gulf Opportunity Zones, which are easing the rebuilding process and are giving devastated communities the tools they need to get back on their feet.
But because of these storms, as well as unprecedented global energy demand, we’ve been experiencing a period of high energy prices, which, as the President has said, are like a tax on America’s working families.
One of the best things we can do about this is to increase our energy efficiency. Our most accessible source of additional energy is the energy we now waste. Adopting some simple efficiency measures in our homes and business can help conserve energy and save money.
But even as we deal with these high energy prices, I think it is a testament to the resilience of our economy that we have nevertheless seen steady growth and continued job creation.
And fortunately, the Energy Policy Act is a major step toward enhancing our energy security. You’ve already heard a bit about what the Act does. But I want to mention the emphasis it places on using science and technology to meet our growing energy needs in an environmentally responsible way.
This technological approach obviously includes things like next-generation nuclear power and hydrogen fuel cells. But we are also applying the promise of technology to ensure a diverse energy portfolio including renewable energy sources like solar and biomass, as well traditional fossil fuels.
Consider coal--which supplies half of the nation’s electricity. Thanks to the latest technology, today’s new coal plants are 90% cleaner in than those built in 1970, when the Clean Air Act was enacted. And we are working to make them even cleaner yet. In fact, Representative Murphy are going to see some of these new technologies when we visit the National Energy Technology Lab a little later.
Now, I could go on and talk about any number of things our Department is doing to ensure that ample supplies of clean, affordable energy are available to keep our economy growing. But perhaps it would be better to stop here, and bring these subjects up as our discussion unfolds.
So, I want to thank you all for being here, and for this opportunity to share my thoughts with you.
Location:
Fed-Ex Ground Center
Pittsburgh, PA
Media contact(s):
Craig Stevens, 202/586-4940
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