AEIC: U.S. Must Boost, Not Cut, Energy R&D Investment
Washington, D.C.– American Energy Innovation Council Staff Director Brad Townsend issued the following statement today in response to President Trump’s proposed budget for fiscal year 2019:
“Much of America’s current energy boom—in shale oil and gas, renewable energy, and many other areas—can be attributed to federally-funded energy research that the private sector has then relied on to commercialize advanced energy technologies. These technologies have in turn lowered costs for American consumers and businesses in meaningful ways.
“But recent assessments of global innovation rank the United States anywhere from fifth to tenth, dragged down by insufficient investment in energy R&D relative to the size of our economy.
“To compete in the $6 trillion global energy market—in which competitors like China are making large innovation investments—the United States must boost, not cut, its funding for energy innovation and breakthrough technologies.
“Moreover, U.S. national security relies on staying at the forefront of technologies that protect against cyber and physical attacks on U.S. energy infrastructure, and safeguard the country’s nuclear weapons stockpile.
“Investments in energy innovation are critical to America’s domestic economy, global competitiveness and national security. As the appropriations process unfolds, Congress must ensure they prioritize our energy future.”