SOURCE: Council on Competitiveness

Council on Competitiveness

February 12, 2009 12:55 ET

Council on Competitiveness Distinguished Fellow Calls for Federal Energy Organizational Reform Before Senate Hearing

Former U.S. Assistant Secretary of Energy, Karsner, Calls for Clean Energy Bank to Drive Private Investment in Sustainable Energy Solutions

WASHINGTON, DC--(Marketwire - February 12, 2009) - Today, Distinguished Fellow of the Council on Competitiveness, the Honorable Alexander "Andy" Karsner, testified before the United States Senate Committee on Energy and Natural Resources. The hearing focused on improving the deployment of clean energy technologies and the status of the Department of Energy Loan Guarantee Program. During today's hearing Mr. Karsner, the immediate former Assistant Secretary of Energy Efficiency and Renewable Energy, made the following statement:

"While the private sector is the appropriate and most efficient means of delivering the solutions to the market at scale, only the government can play the indispensable role of availing the federal balance sheet and bridging market inefficiencies and imperfections. I believe that an independent, non-partisan, quasi-governmental entity, like a clean energy bank, should play an essential role of helping to achieve our national energy goals and fulfill the national security mission of DOE."

Mr. Karsner has worked extensively on this issue, both during his time at the Department of Energy and now with the Council on Competitiveness. He was a key contributor to the Council's 100-Day Energy Action Plan, Prioritize, which calls for the creation of a $200 billion National Clean Energy Bank. During the hearing Mr. Karsner also noted that then-Council member, Secretary of Energy Steve Chu, was an instrumental participant and leader in guiding the Council's recommendations.

Mr. Karsner is pleased with the Senate Committee's dedication to improving and expanding America's investment in clean energy technology, and is eager to offer his input on the progression of key energy initiatives.

"I commend Chairman Bingaman and Ranking Member Murkowski for their bipartisan cooperation on this important issue," said Karsner. "Their embrace of many of the Council's recommendations, particularly the Clean Energy Bank, will ultimately mean a leaner, more competitive economy, supported by a cleaner energy mix and far more efficient use of energy."

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