Summary | Team | Federal Role | Current Environment

The economic crisis has brought acute focus to the question of how to pragmatically reduce dependence on foreign oil and move to clean energy sources and utilization. Crude oil’s record peak near $150 a barrel in July 2008 touched consumers directly and started a downward spiral in business profits.  The impact of $4 a gallon gas remains fresh in consumers and politician’s minds, and has highlighted our dependence on foreign energy.

Population growth, energy consumption and global warming will not abate, although their effects may be dampened in the short term. OPEC will continue to manipulate supply as long as they have pricing power.  Energy policy faces continuing challenges with a new, high hurdle of economic viability that must be addressed in every case. Energy solutions must be not only ecologically clean, they must be economically productive, and that sooner than later.

President Obama and the Congress are aiming to curb greenhouse gas emissions, reduce U.S. dependence on foreign oil, and increase the use of renewable fuels.  When combined with recent investments in advanced batteries, smart grid infrastructure, and the push for a greener economy, we are on the cusp of a revolutionary change in the U.S. energy economy and the way we look at power.

Stimulus Bill

The landmark economic stimulus bill has provided unprecedented funding to energy efficiency and infrastructure projects.  With over $38 billion in total stimulus authorized funding, including $4.5 billion to modernize the electricity grid and $16.8 billion in energy efficiency and renewable energy funds, the Department of Energy now has the resources to make transformational changes to the nation’s energy infrastructure.  This infusion of funding has put pressure on the Department to produce results, both in terms of jobs produced and in the implementation of President Obama’s vision for our future energy economy.