If the U.S. successfully innovates in energy, our country stands to reap enormous benefits. Indeed, no sector is more important, economically, strategically, and environmentally, than the energy sector. If, however, the United States fails to invent new technologies and create new markets and jobs that will drive the transformation and revitalization of the $5 trillion global energy industry, we will have lost an opportunity to lead in what is arguably the largest and most pervasive technology sector in the world. Moreover we will cede the stature, the jobs and the economic strength that would accompany such leadership.
As CEOs we have direct experience with developing and implementing strategies to transform markets at national and global scales. Creating transformations in the realm of energy can be done but it will require the leadership of the federal government, partnering with the private sector.
In sum, we know the federal government has a vital role to play in energy innovation. We know the federal energy innovation system can be structured effectively to achieve real results. And we know there are several ways to pay for public investments in this domain. There are no excuses. As a country, it is time to put aside partisan differences and embark on a clear path to achieving our clean energy goals.
We call on Congress and the President to act.