Mr. Chairman, I have an amendment at the desk. Mr. Chairman, Deutsche Bank, the biggest bank in Europe, recently issued a report on global clean energy investment opportunities in which it stated, ``Countries with more TLC, transparency,…
Mr. Chairman, I have an amendment at the desk.
Mr. Chairman, Deutsche Bank, the biggest bank in Europe, recently issued a report on global clean energy investment opportunities in which it stated, ``Countries with more TLC, transparency, longevity, and certainty, in their climate policy frameworks will attract more investment and build new clean industries, technologies, and jobs faster than their policy-lagging counterparts.''
The TRAIN Act is one more step in the wrong direction by the same Republican House which has held over 110 anti-environmental votes. This unprecedented assault on the environment has devastating consequences for our economy. As the Deutsche Bank report said, ``Germany and China have emerged as global leaders in low carbon technologies and investment. The net effect is that while Congress stumbles, the U.S. stands to fall behind.''
This investor report, from Europe's largest bank, identified several policy failures that are impeding job growth here at home. First, Congress has not established a carbon reduction target, or required polluters to pay for the cost of greenhouse gas pollution. Congress does not have a national renewable standard or even an energy efficient standard. The Deutsche Bank report notes that the lack of these regulations and incentives has actually forced investors to make investments elsewhere, including in China and other countries, rather than here at home in America. As a result, we have lost solar and other advanced technology market share to our competitors.
My simple amendment to the TRAIN Act establishes a simple process to identify ``policies that should be adopted and implemented by the United States to provide domestic job growth, and to ensure that our Nation is internationally competitive in the $5 trillion global energy industry for clean energy technology, development, and manufacturing.'' Business leaders have urged Congress to adopt both a regulatory framework and a system of incentives to spur clean energy job creation. In addition to the regulation the Deutsche Bank identified as supporting investment, American entrepreneurs have called on Congress to expand public financing for clean energy.
This month members of the American Energy Innovation Council visited Capitol Hill to express their strong support for just that concept. This group included venture capitalist John Doerr, former Lockheed Martin CEO Norm Augustine, and Bill Gates of Microsoft. The American Energy Innovation Council recently issued a report which stated, ``As business leaders, we feel that America's current energy system is deficient in ways that cause serious harm to our economy, our national security, and our environment.
To correct these deficiencies, we must make a serious commitment to modernizing our energy system with cleaner and more efficient technologies.''
This Republican House is an anchor that's dragging down the American economy. It's continued obsession with austerity and opposition to any economic recovery programs, including clean energy, mean that America falls behind while China surges ahead. We cannot afford to let China and Germany dominate industries such as clean technology.
My simple amendment will establish a process to start restoring American leadership in this important sector for economic growth. Rather than repealing commonsense public health standards, we ought to be focused on measures like my amendment, which support high-tech job growth.
I ask my colleagues to vote for this amendment, and I reserve the balance of my time.
Will the gentleman yield for a question?
I thank the gentleman for yielding.
I would inquire as to what would be the comparable number for oil and gas and coal in the United States. You talk about the growth trend; but in absolute numbers, is it not true that actually the fossil fuels industry gets $70 billion a year?
I would inquire of the Chair how much time is left on this side.
To conclude on this matter, I have enormous respect for my colleague on the other side; but to oppose a simple study to require that we look at the benefits of clean energy technology, I find that very troubling. That resistance, sadly, is going to impede American growth and competitiveness and is actually going to cost us jobs.
There is no question that in the coal industry, in particular, we've kind of reached a plateau. In fact, in Kentucky, we've lost a lot of jobs relative to, say, 30 years ago; whereas, as my colleague from Massachusetts pointed out last night, in wind energy, just in the last 4 years, we're up to 80,000 jobs. It's a fast-growing, lucrative part of our economy. It's clean, and it actually concretely helps create jobs.
That's a worthwhile thing to study if not to invest in, and I regret the fact that the manager on the other side finds even a study something to be resisted.
I yield back the balance of my time.
Mr. Chairman, I demand a recorded vote.