Eleanor Holmes Norton Asks Granholm How Biden's Investments In American Energy Has Created New Jobs

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During a House Oversight Committee hearing last week, Del. Eleanor Holmes Norton (D-DC) questioned Energy Secretary Jennifer Granholm about the Inflation Reduction Act, the Bipartisan Infrastructure Law and clean energy investments.  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript   Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com

Transcript

00:00 Secretary Grinholm, in the time since President Biden signed the Inflation Reduction Act and

00:06 bipartisan infrastructure law, communities across the country are already benefiting from historic

00:13 investments in clean energy and climate resilience. In fact, right here in the District of Columbia

00:20 that I represent, the Inflation Reduction Act is enabling the General Services Administration

00:27 to upgrade Federal Government buildings from fossil fuel steam power to electric heat pump

00:34 technology. The upgrades to the Ronald Reagan Building and the International Trade Center alone

00:40 will strengthen our climate future and are expected to save more than $6.2 million in

00:49 taxpayer dollars every year. So, Secretary Grinholm, how are projects like this one

00:57 transforming communities across the country?

01:01 Secretary Grinholm We are very interested in all projects that are community-based, by the way,

01:09 that reduce costs for people. And so whether it is energy efficiency or the generation of clean

01:15 energy and giving people the ability to take control of their own energy future in partnership

01:21 with communities and on an individual basis. So we are all in on all manner of efficiency and

01:31 energy and supporting communities in doing so.

01:33 Ms. Norton Both the Inflation Reduction Act and the bipartisan infrastructure law

01:44 are critical investments in our country's future. Within the first year of the Inflation

01:49 Reduction Act's enactment, we added 170,000 new jobs in clean energy and climate resilience,

01:56 with a projection of more than 1.5 million additional new jobs over the next decade.

02:03 Secretary Grinholm, how has President Biden's investing in America's energy

02:14 sector created new jobs and opportunities across the country, including the energy sector?

02:20 Secretary Grinholm Yes, to your point, so far it is about 800,000 jobs that have been created as

02:24 a result of the bipartisan infrastructure law and the Inflation Reduction Act, with the projection

02:29 that it will be 1.5 million. We have created over 15 million jobs. Over 15 million jobs have been

02:36 created since this President took office, more than any President in any term in American history

02:43 and part of that has to do with the focus on clean energy and the opportunity that it brings

02:47 to employed people.

02:48 Ms. Norton According to the Department of Energy,

02:52 because of the Inflation Reduction Act and the bipartisan infrastructure law, by 2030 we are

03:01 projected to cut greenhouse gas emissions by 40 percent at 2005 levels. It is also projected that

03:11 clean energy electricity will account for 80 percent of the power generation by 2030, compared

03:20 with 42 percent in 2022. In addition, President Biden's leadership will help families save up to

03:30 $38 billion in electricity bills by the end of the decade.

03:36 Senator Granholm, how have the Inflation Reduction Act and the bipartisan infrastructure law enabled

03:45 the Department of Energy to invest in clean energy and fossil fuel alternatives?

03:50 Senator Granholm The statistics that you cite are so wonderful

03:55 because they happen to be accurate, and that 40 percent reduction in CO2 emissions, it is actually

04:01 40 to 50 percent if you include what the private sector is doing and what other states are doing.

04:06 What these laws have done is enabled both the federal government but also the private sector

04:11 to really do the investments because they contain carrots, and we're all about the carrots at the

04:17 Department of Energy. So the grants from the bipartisan infrastructure law and the tax credits

04:22 from the Inflation Reduction Act have created an environment where America has become the

04:27 irresistible nation for investment in clean energy. We are the envy of other nations for having been

04:34 so forward leaning on creating jobs here. So it's a very exciting time for both responsiveness to

04:42 addressing climate change but also creating jobs in America.

04:44 Senator Harris I'm proud we passed the Inflation Reduction Act

04:49 and the bipartisan infrastructure law, and I'm thankful for the Biden administration's leadership

04:55 in addressing the climate crisis and securing our country's energy future, and I yield back.

05:00 [Chairman Issa] I now recognize Mr. Biggs from Arizona.

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