Bingaman: Time For U.S. To Catch Up In Clean Energy Production

By Rachel Christiansen

Days before President Obama outlined clean energy as a priority in his State of the Union address, the administration called upon the Senate Energy and Natural Resources Committee to come up with active legislation to move America away from under foreign oil dependency. 

Committee chair Jeff Bingaman (D-N.M.) highlighted the feats of clean energy production in countries such as China, Germany and Japan as he presented his plan Monday to bring the U.S. back up to speed. 

Energy research and development as well as maintaining a strong domestic market for these new energy technologies are key to “remaining at or neat the forefront of clean energy production,” Bingaman said during an appearance at the National Press Club in Washington, D.C.

“We need to ensure that we have the necessary financial infrastructure in tax incentives to provide the capital needed to build these advanced energy technology projects,” Bingaman added. 

The financial options Bingaman outlined include bringing some “stability and predictability” to the tax code that deals with these clean energy products in order to attract private capital.  

Bingaman said he did not know when a formal bill would be ready to be introduced, but that “clearly the White House needs to be involved.”