\nthe Director of the National Economic Council, used his luncheon speech at
\ntoday’s Energy Information Administration<\/a> Annual Energy Outlook Conference<\/a> to lay out a compelling case for comprehensive energy and climate legislation.
\nThe text of his remarks should be posted on the conference website soon and
\nwill be worth a read as he positioned his points about energy and climate in
\nthe context of an expansive overview of the economic crisis and the Obama
\nadministration’s strategy to get the U.S. economy back on track.<\/p>\n
<\/p>\n
In the meantime, here is an outline of the five key points
\nhe made about the economic importance of enacting comprehensive climate and
\nenergy legislation:<\/p>\n
Enacting legislation will create demand and jobs
\nin the short term, when the economy has idle labor and other economic resources
\nthat can be put to work building the foundation of a clean energy economy.<\/p>\n
\nEnacting legislation will reduce uncertainty and
\nincrease confidence, spurring greater private sector investment.<\/p>\n
\nEnacting legislation will result in a more
\nefficient policy framework by cutting subsidies for dirty fossil fuels and
\nincreasing reliance on a market-based system to reduce emissions.<\/p>\n
\nEnacting legislation will spur innovation, which
\nis the key to our long-term prosperity.<\/p>\n
\nEnacting legislation will strengthen America’s
\ninternational competitive position by reducing our dependence on oil from
\nunstable parts of the world and making the United States a leader in the
\ntechnologies that will drive growth in the 21st Century.<\/p>\n
Press Related Links:<\/strong><\/p>\n Coalition of 22 Democratic senators urges floor vote on climate bill this year<\/a><\/p>\n The inevitable ‘What Does Health Care Reform Mean for Climate Legislation’ post<\/a><\/p>\n
\ncoverage<\/a> that I have seen predictably focuses on Summers’ response to a
\nquestion about the political priority President Obama places on passing energy
\nand climate legislation this year. His response, “Going forward for the rest of
\nthis year a bipartisan energy solution is an absolutely crucial priority for
\nthe president,” was certainly a tasty dessert, but the highly substantive
\nmain course should not be neglected.<\/p>\n