Metavid

Video archive of the US Congress

Senate Proceeding on Sep 27th, 2010 :: 2:56:50 to 3:09:20
Total video length: 7 hours 59 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:208 Duration: 0:12:30 Discussion

Previous speech: Next speech:

Jeff Bingaman

2:56:47 to 2:57:07( Edit History Discussion )

Jeff Bingaman: be included in the record as if read, as i see that my time has expired. the presiding officer: without ms. collins: thank you, mr. president. mr. benjamin benjamin: -- mr. bingaman: mr. president? the presiding officer: the senator from new mexico.

Jeff Bingaman

2:56:50 to 3:09:20( Edit History Discussion )
Speech By: Jeff Bingaman

Jeff Bingaman

2:57:08 to 2:57:30( Edit History Discussion )

Jeff Bingaman: mr. bingaman: mr. president, i wish to speak on the legislation that is pending, the creating american jobs and ending offshoring act. but also more generally on the issue of loss of jobs particularly in the energy

Jeff Bingaman

2:57:31 to 2:57:53( Edit History Discussion )

Jeff Bingaman: sector as we go forward. when b.p. solar closed its frederick, maryland, plant earlier this year, 320 americans saw their jobs sent overseas to china and india. bloomberg said the announcement signaled the exodus of u.s. renewable energy jobs, which is obviously did.

Jeff Bingaman

2:57:54 to 2:58:14( Edit History Discussion )

Jeff Bingaman: in fact, b.p.'s solar move followed general electric's closing of its newark, delaware, solar panel plant. evergreen solar's shifting of hundreds of jobs from massachusetts to china, and gomesa's shutting down of its wind turbine factory in western

Jeff Bingaman

2:58:15 to 2:58:35( Edit History Discussion )

Jeff Bingaman: pennsylvania. given the broaden newsasm for creating clean -- broad enthusiasm for creating clean energy jobs, few seemed to notice this alarming trend. but we can't afford to sit idly by as clean energy jobs steadily and stealthfully move overseas.

Jeff Bingaman

2:58:36 to 2:58:58( Edit History Discussion )

Jeff Bingaman: and so as we debate this creating american jobs and ending offshoring act, which is pending in the senate -- or which is -- the majority leader is trying to bring forward for senate consideration and which i support, i rise to call on the senate also, in addition, to pass three commonsense, bipartisan measures that will

Jeff Bingaman

2:58:59 to 2:59:20( Edit History Discussion )

Jeff Bingaman: enable the u.s. to retain existing clean energy jobs and capture millions of new ones that the burgeoning global demand for clean energy will soon create. to begin, let me dispel the myth that the u.s. cannot lead in producing clean energy technology. in fact, we once were th leader.

Jeff Bingaman

2:59:21 to 2:59:41( Edit History Discussion )

Jeff Bingaman: as recently as 1997, we had a green trade surplus of $14.4 billion. by 2008, that surplus had become a deficit of $8.9 billion. the reversal was triggered largely by a steep falloff in domestic renewable energy technology manufacturing.

Jeff Bingaman

2:59:42 to 3:00:02( Edit History Discussion )

Jeff Bingaman: for instance, only a decade ago, u.s. solar cell manufacturers controlled 30% of the world market. by 2008, that had been reduced to 6%. meanwhile chinese production had grown from nonexistent in 1999 to 32% of the world total in

Jeff Bingaman

3:00:03 to 3:00:23( Edit History Discussion )

Jeff Bingaman: 2008. and similarly european manufacturers now account for more than 85% of global wind component manufacturing. today only one of the top 10 manufacturers is an american firm.

Jeff Bingaman

3:00:24 to 3:00:45( Edit History Discussion )

Jeff Bingaman: what happened to make -- bring about these changes? simply put other countries enacted policies to attract investments. both push incentives like tax incentives and direct subsidies to attract manufacturers and pole incentives to create domestic demand. as a result of the incentives

Jeff Bingaman

3:00:46 to 3:01:08( Edit History Discussion )

Jeff Bingaman: that they enacted, china displaced the u.s. -- the u.s. last year as the world's leading destination for clean energy investment. its total investment was nearly twice that of the u.s. measured as share of gross domestic product, the clean energy investment places us, the united states, at the bottom

Jeff Bingaman

3:01:09 to 3:01:29( Edit History Discussion )

Jeff Bingaman: half of the g-20 countries. if the trend continues, we will fall further behind. over the next five years government investments -- government investment in china and japan and south korea is expected to outstrip u.s. government investment 3-1.

Jeff Bingaman

3:01:30 to 3:01:50( Edit History Discussion )

Jeff Bingaman: this public investment will drive trillions in private sector investment within those same countries. with global clean energy investments expecte reach $2.3 trillion by 2020, we cannot afford to delay measures that will ensure u.s. leadership in this area. we must look to create jobs

Jeff Bingaman

3:01:51 to 3:02:14( Edit History Discussion )

Jeff Bingaman: across the clean energy value chain from engineering to installation to sales. in particular, we must focus on manufacturing jobs because failing to grow a domestic clean energy manufacturing base will result in trading our imported

Jeff Bingaman

3:02:15 to 3:02:35( Edit History Discussion )

Jeff Bingaman: oil dependency for an imported clean energy component dependency. in fact we're seeing how shortages in renewable energy components and systems have slowed domestic renewable energy production. that is, we've begun to see offshorg manufacturing is quickly followed by offshoring

Jeff Bingaman

3:02:36 to 3:02:57( Edit History Discussion )

Jeff Bingaman: of research and development capacity. to grow our manufacturing base congress needs to take decisive action this year to enact at a minimum the three commonsense bipartisan measures i alluded to before. first, we need to end -- we must send the appropriate market signal by enacting the renewable

Jeff Bingaman

3:02:58 to 3:03:19( Edit History Discussion )

Jeff Bingaman: energy standard that i have introduced along with senator brownback. expanding demand for clean energy is essential to raising demand for domestically produced goods. for instance, every gigawatt of installed wind capacity, that is, roughly enough to power all the homes in atlanta, is

Jeff Bingaman

3:03:20 to 3:03:41( Edit History Discussion )

Jeff Bingaman: estimated to create about 4,300 jobs. more than three-fourths in manufacturing. european firms that now dominate u.s. wind turbine sales developed technical and marketing expertise by serving their own home markets first. expanding domestic demand will enable american firms to catch up.

Jeff Bingaman

3:03:42 to 3:04:02( Edit History Discussion )

Jeff Bingaman: as i indicated, senator brownback and i have introduced this legislation. we hope very much that in the short session of the congress after the election, that can be brought up an dealt with. -- and dealt with in a positive way. but the demand side strategy for clean energy cannot suffice.

Jeff Bingaman

3:04:03 to 3:04:23( Edit History Discussion )

Jeff Bingaman: we also need to focus on supplying -- on the supply side to ensure that policy-spurring clean energy demand will not merely be filled by imports from overseas. so the second call is to expand the advanced energy project or section 48-c tax credit that we

Jeff Bingaman

3:04:24 to 3:04:45( Edit History Discussion )

Jeff Bingaman: created as part of the recovery act. that credit allows qualified companies to claim a credit for up to 30% of the cost of creating, expanding or reequipping facilities to manufacture clean energy technologies. the recovery act authorized the departments of energy an treasury to award $2.3 billion in tax credits.

Jeff Bingaman

3:04:46 to 3:05:06( Edit History Discussion )

Jeff Bingaman: there were many success stories that funding was way oversubscribed. the gov received $10 billion in applications f the $2.3 billion tax credits that were available under the recovery act. in december i joined with senators hatch and stabenow and

Jeff Bingaman

3:05:07 to 3:05:29( Edit History Discussion )

Jeff Bingaman: lugar in filing the clean -- america clean technology manufacturing leadership act. that bill wou another $2.5 billion in tax credit allocation authority. president obama has call for $5 billion additional funds -- $5 million additional funds to be made available in this way.

Jeff Bingaman

3:05:30 to 3:05:50( Edit History Discussion )

Jeff Bingaman: the final -- the third of the initiatives that i wanted to focus on today is the need to address financing challenges that companies face in establishing onshore clean energy manufacturing facilities. five years ago congress created a loan guarantee program at department of energy. from its start the program has

Jeff Bingaman

3:05:51 to 3:06:11( Edit History Discussion )

Jeff Bingaman: faced bureaucratic delays. so far there are only 14 loan guarantees that have been issued. all of them in the past 14 months. 10 within the last year. the recovery act promised to a add $6 billion to the program which would leverage about $60 billion in new loans

Jeff Bingaman

3:06:12 to 3:06:33( Edit History Discussion )

Jeff Bingaman: for clean energy projects. unfortunately, this -- this congress has seen fit to treat this funding as a piggy bank and we've withdrawn $3.5 billion as offsets for unrelated purposes. we need to restore that funding. we need to restore it and also retool the loan guarantee

Jeff Bingaman

3:06:34 to 3:06:54( Edit History Discussion )

Jeff Bingaman: program. the energy committee that i chair reported a bill that would create a robust successor to that program called the clean energy deployment administration or cena and i urge the congress to enact that legislation as well.

Jeff Bingaman

3:06:55 to 3:07:15( Edit History Discussion )

Jeff Bingaman: alongside these three measures to retain and create clean energy manufacturing jobs, we also need to pass two important additional bipartisan packages. the energy committee's unanimously supported a bill to address the largest oil spill in our nation's history, the american people are waiting for us to enact it. we should do so as soon as

Jeff Bingaman

3:07:16 to 3:07:37( Edit History Discussion )

Jeff Bingaman: possible. and the tax code is an increasingly important mechanism for delivering clean energy incentives. in fact, more than three in five federal dollars spent on energy are delivered through tax pro are visions. -- provisions. i'll return to the floor later this week to discuss a bipartisan package of incentives

Jeff Bingaman

3:07:38 to 3:07:58( Edit History Discussion )

Jeff Bingaman: for clean renewable energy and energy efficiency and i hope that that package will receive priority attention by the congress before it adjourns as well. mr. president, some have said the united states cannot regain its footing in the clean energy manufacturing arena. those who doubt the potential of

Jeff Bingaman

3:07:59 to 3:08:20( Edit History Discussion )

Jeff Bingaman: this -- of this sector and think that clean energy jobs can flow only to low-wage countries, like china, need only look at what's happened in germany where employment in the clean energy industry is second only to the nation's strong automotive industry. we are deservedly proud of our

Jeff Bingaman

3:08:21 to 3:08:44( Edit History Discussion )

Jeff Bingaman: nation's tradition as a leader in research and development, in innovation and venture back to investing. with the right policy we can guarantee that clean technology investment will come to our shores. let's enact the job creating legislation pending in the senate today and then move swiftly to enact legislation

Jeff Bingaman

3:08:45 to 3:09:01( Edit History Discussion )

Jeff Bingaman: creating a renewable electricity standard and a clean energy deployment administration and expanding the section 48-c credit. mr.

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid