Mr. President, I rise to introduce legislation to establish a Federal renewable electricity standard. Before I talk about what that will do, let me tell you a little bit about the people it will help. Luna County, NM has a double-digit…
Mr. President, I rise to introduce legislation to establish a Federal renewable electricity standard. Before I talk about what that will do, let me tell you a little bit about the people it will help.
Luna County, NM has a double-digit unemployment rate. More than half of its children live in poverty. It was in recession before our current economic crisis. If nothing changes, it will be in recession long after the rest of the country recovers. Now, let me be clear. Luna County deserves help, but I'm not looking to spend a lot of money. We usually think of economic development as something you pay for. But the proposal I am introducing today does not spend a dime. In fact, my plan will generate tax revenue.
Luna County has something else worth noting. When you look at the United States on a map that measures solar thermal energy, Luna County is red hot. Like hundreds of small communities across our country, Luna has immense untapped potential for renewable energy. If Luna can find a way to sell its sunlight, its future will be secure. But Luna has a problem. America's energy markets do not value Luna's sunlight the way they should. These markets ignore three critical things. First, growing demand and stagnant supply mean rising prices for fossil fuels. The price of natural gas has more than tripled since 1995. Unless we act, we can expect more price spikes in the future, spikes that threaten the economy. But it is easier for utilities to buy a little more natural gas than it is to invest in clean technologies. The result is that we are moving forward as if our energy use is sustainable, when we know it is not.
In most markets, this would be bad enough, but our energy markets have two other problems. Americans care whether our energy comes from farmers in Iowa or mullahs in Iran, but our markets do not. When we buy solar energy from Luna County, we keep our money in this country, and we make ourselves less dependent on countries such as Russia and Iran, countries that have shown their willingness to use our dependence against us. America's energy markets also ignore global climate change. Right now a clean electron produced by the sun costs as much as an electron produced by burning carbon. Our markets don't care whether the energy we consume is leading to fewer farms and more forest fires. They don't care whether our grandchildren will be able to live comfortably on this Earth. They just don't care. And we are paying the price. Even the most conservative economists will tell us that energy is a classic case of market failure. The energy market ignores our economic security, our national security, and the future of our world. Economists call these things externalities. I call them the basis of our way of life.
So what do we do? I am proposing that we demand a little bit more from our utilities. Let's require that they produce 25 percent of their electricity from renewable sources by 2025. Thanks in large part to Senator Bingaman, the Senate has already passed a similar proposal three times. Last year I was proud to help pass a proposal such as this in the other body.
Renewable electricity standards have succeeded at the State level. In fact, more than 28 States have renewable standards, including the State of New Mexico. But a national RES has never become the law of the land. It is time for Congress to make it so.
There are many reasons to support this plan. To start, it is good for consumers. Scientists looking at a 20-percent standard concluded that it could save utility customers $31.8 billion. A 25-percent standard would save even more. A renewable energy standard would also strengthen rural communities and provide new income for farmers and ranchers.
This plan will make America safer. The billions of dollars it will generate are dollars that cannot be used to hold our foreign policy hostage.
Most importantly, a national renewable standard will create hundreds of thousands of high-paying jobs, jobs that cannot be outsourced. Study after study shows that shifting capital to renewable energy increases job creation. Not only will this plan stimulate job creation today, it will put us on a path toward dominance in the industries of the future.
Some of my colleagues will probably say a renewable standard makes sense for sunny New Mexico, but it won't work for their States. I urge them to take another look at their States. Scientists predict that Florida could one day meet one-third of its energy needs by tapping the power of the gulf stream. Louisiana has wind energy potential offshore, and New Orleans has already begun to rebuild its economy by creating jobs developing solar energy. Alaska has wind energy potential all over its coast and geothermal potential in the south. The State of Tennessee concluded its existing investment in renewables could yield 4,500 jobs and additional investment could yield 45,000.
Everywhere we look, America has untapped renewable energy potential. But for the sake of argument, let's say that Louisiana might have to import some energy from Florida under a national renewable standard. Louisiana already
imports a big chunk of its energy. As consumption rises, more and more of Louisiana's energy comes from imports. Today those imports come largely from natural gas, and 43 percent of the world's natural gas is under Russia and Iran. So Louisiana is bidding up the price of a commodity that is largely controlled by countries that don't like us. I would rather buy hydropower from Florida than fossil fuels from Iran.
The choice is not between importing and not importing. It is between Charlie Crist and Mahmoud Ahmadinejad. This is not a tough choice.
Of course, some people say they support a renewable standard, but not yet. They say America cannot afford to reduce our contribution to climate change because the growth of China and India will drown out the impact of our emissions reductions. This concern is very real, but it represents a failure of our moral imagination. If we are to have a future as a country and as a global community, we cannot see the world's aspiring middle class as potential threats. We have to see them as potential customers. And we should be racing to develop the technologies they will need.
Waiting for China to address its emissions problem before we address ours is like waiting for an opponent to finish the race before we start to lace up.
Right now, the world is engaged in a high-stakes competition; America just does not always admit it. As the world's citizens see the impact of climate change, we are demanding energy supplies that do not endanger our collective future. That means soon clean energy will not be an alternative, it will be the standard. When that happens, whichever country dominates the clean energy industry will be able to create jobs on a grand scale.
Do not take my word for it. The CEO of GE Energy has testified before the Congress that ``wind and solar energy are likely to be among the largest sources''--largest sources--``of new manufacturing jobs worldwide during the 21st Century.'' Think about what he said:
[W]ind and solar energy are likely to be among the largest
sources of new manufacturing jobs. . . .
We hear a lot of discussion on this floor about new manufacturing jobs and us losing manufacturing jobs. Well, this is where the new manufacturing jobs are going to be.
A growing chorus of economists and business leaders agree with what this GE Energy CEO has said.
America cannot afford to let another country become the world's clean energy leader. But right now we are falling behind. Countries that have done much more to shape their energy markets have already created thriving green energy industries. With a population roughly one-quarter as large as America's, Germany has more than twice as many workers developing wind energy technologies. Spain has almost five times as many workers in the solar thermal industry as America. China has more than 300 times as many.
America is not falling behind because our scientists are not smart enough. Some of the big ideas now powering the economies of Europe originated right here. From 1970 to 1996, Los Alamos National Lab developed a technique for cleanly and efficiently using the Earth's heat to generate electricity. Estimates indicated the technique could eventually power the Earth for hundreds of years. But without market incentives to encourage continued development, progress stagnated. Germany took that technology and brought it to market in just 3 years. They now have 150 geothermal plants nearing completion. Think of the jobs that will create. Those could be our jobs. Those should be our jobs.
A renewable electricity standard would let America catch up and take the lead. We still have the world's most productive workers. We still have the most creative entrepreneurs. Our culture encourages individual initiative to solve tough problems. But if we want to win, we have to act now.
The American people are ready for this. I have driven to every county in New Mexico, and everywhere I saw innovation. I saw wind turbines going up in Little Texas. I saw the spot in Deming, NM, where the world's largest solar plant will sit. At Mesalands Community College in Tucumcari, NM, I saw a classroom in a wind turbine hundreds of feet over the desert. Even Luna County is starting to develop its resources. They just need help.
The Federal Government is late to the party. We should be leading the clean energy revolution. Instead, our constituents are leaving us in the dust. The private sector is working hard, but they need us to create a market that supports their efforts. They need a market that values our economic security, our national security, our environmental security.
Mr. President, it is time for us to lead.
Now, you might have noticed that we New Mexicans are passionate about renewable energy. As I said earlier, Jeff Bingaman has led on this issue for years. As I said earlier, he has passed a renewable standard in the Senate three times. I introduced this legislation today because I want to help Senator Bingaman win this fight. I look forward to working with him and with all of you to get a renewable electricity standard signed into law.
I am also pleased to be introducing this legislation with another Senator, a Senator with a very distinguished last name: my cousin, the senior Senator from Colorado. We spent a decade in the other body together. And much of that time was spent working to pass a renewable electricity standard. We were both attracted to his proposal because it reflects the kind of Western pragmatism that people in Colorado and New Mexico like. I know this issue is important to both of us. I want to thank the Senator for continuing this effort with me, and for his support through the years.
Instead, our constituents are leaving us in the dust. The private sector is working hard, but they need us to create a market that supports their efforts. They need a market that values our economic security, our national security, our environmental security.
Is time for us to lead.
Now, you might have noticed that we New Mexicans are passionate about renewable energy. As I said earlier, Jeff Bingaman has led on this issue for years. I introduce this legislation today because I want to help Senator Bingaman win this fight. I look forward to working with him and with all of you to get a renewable electricity standard signed into law.
I am also pleased to be introducing this legislation with another Senator, a Senator with a very distinguished last name: my cousin, the senior senator from Colorado. We spent a decade in the other body together, and much of that time was spent working to pass a renewable electricity standard. We were both attracted to this proposal because it reflects the kind of Western pragmatism that people in Colorado and New Mexico like. I know this issue is important to both of us. I want to thank the Senator for continuing this effort with me, and for his support through the years.