Good morning, Dr. Danielson, Dr. Orr, Secretary Smith and Hoffman, Mr. Kotek, we are so glad to have you all here today. Thank you all for being here today to present your 2016 program requests.
It is no secret that United States reliance on foreign energy imports-America’s number one category in our trade deficit-presents a significant strategic threat, as well as a drain on our economy in terms of jobs and productivity. Last year, we turned a corner, producing more energy than we imported. Your offices deserve a great deal of credit for your accomplishments.
Some additional figures help us understand the big frame in which we are operating. For 2014, our overall trade deficit as a country in every category was up six percent, over half a trillion dollars, $505 billion. That was up from 2013, when our trade deficit was $476 billion.
The domestic energy boom kept the deficit in check and reduced our dependence somewhat. 2014 petroleum imports fell 9.6 percent to $334 billion-the lowest we have seen since 2009. And U.S. petroleum exports actually went up 5.9 percent to $45.7 billion.
Nonetheless, as a country, in the energy realm, we sustained a $289 billion deficit last year. That translates into lost jobs in our country. If you calculate 5,000 jobs for every billion dollars of trade deficit, that amounts to 1,445,000 jobs in 2014 alone.
We must push forward even harder to meet the energy demands of a new era with an all-of-the-above clean and innovative energy strategy.
You are all about that. You all have exciting jobs inventing the future. The applied energy offices of Energy Efficiency and Renewable Energy, Nuclear Energy, and Fossil Energy and the Office of Electricity provide important resources that the American people need to succeed at home and abroad. And te gap is huge still.
Secretary Smith, the work of you and your predecessors helped develop the new drilling technology that spurred a revival of American oil and gas production. That resource helps meet America’s strategic challenges while domestically creating jobs and advancing our economy.
Renewable energy installations are growing their share of the generation market and innovation will propel them forward. We must strive for full price parity, while supporting domestic manufacturing.
Energy conservation presents a huge opportunity for energy efficiency and it is heartening to see America’s public and private sectors rise to the occasion. It makes good business sense and cents. Buildings and vehicles are becoming increasingly efficient. Targeting the biggest energy users, like the auto, steel, and glass industries in America’s industrial heartland for added attention can yield huge savings. The Advanced Manufacturing Office has an important role to play in developing energy saving processes that will help drive down costs for producers, and ultimately consumers. It’s a win-win for everyone.
The energy innovation championed by your offices holds the key to unlock the full potential of America’s modern clean energy economy. We look forward to hearing your goals for advancing our nation’s sustainable, diversified, and self-reliant energy future.
Mr. Chairman, thank you for the time.
Source: U.S. Department of HCA
