japanese cleaning commercial Video Clip Video Footage

NASA ASTRONAUTS, RUSSIAN COSMONAUTS 'STUCK' IN SPACE

\nhttps://www.usatoday.com/story/news/nation/2023/01/11/nasa-russia-astronauts-frank-rubio-sergey-prokopyev-dmitri-petelin/11035509002/\n\nBREVARD, Fla. — NASA astronaut Frank Rubio and Russian cosmonauts Sergey Prokopyev and Dmitri Petelin are faced with extending their stay aboard the International Space Station by several months and will require a new ride home after their Russian MS-22 Soyuz spacecraft sprang a leak last month.\n\nThe trio was supposed to use that spacecraft to return to Earth in March. Wednesday, NASA and Russian space officials unveiled a plan to launch an empty Soyuz capsule to the ISS to ferry them back instead. That means the three men will spend several more months at the ISS.\n\nDuring a briefing with reporters, NASA's Joel Montalbano, manager of the International Space Station program, said that NASA is not considering the move-up in the MS-23 Soyuz launch a rescue mission. "We're not calling it a rescue Soyuz," said Montalbano. "Right now, the crew is safe onboard the space station."\n\n"I'm calling it a replacement Soyuz," he said. "There's no immediate need for the crew to come home today."\n\nExtended space stay\nInitially set to fly the next rotation of Russian cosmonauts to the station in mid-March, the MS-23 Soyuz spacecraft is now being repurposed to launch as an empty lifeboat to ferry the MS-22 crew home later this year. The empty spacecraft is set to launch from Baikonur Cosmodrome in Kazakhstan on Feb. 20. \n\nFlying the MS-23 crew up as previously planned would have left the ISS in the same situation, with more people on board than available seats on functioning spacecraft to evacuate back to Earth in the unlikely event of a catastrophe.\n\nThat means that Rubio, Prokopyev, and Petelin will need to extend their space stay until September or until Roscosmos can build another Soyuz spacecraft to launch its next rotation of crew members, which are now stuck grounded for longer than anticipated.\n\nAccording to Montalbano, the space station remains safe, and the crew members are healthy enough to remain in space while this plan plays out.\n\n"They're prepared to stay until the September launch date, if that's the case," said Montalbano. "If that launch date moves up earlier, then they're prepared to come home earlier."\n\nJokingly, he said: "I may have to find some more ice cream to reward them."\n\n"The awesome thing about our crews are they're willing to help wherever we ask," he said. "They are ready to go with whatever decision that we give them."\n\nA Russian space leak\nThe MS-22 Russian Soyuz spacecraft that transported Rubio, Prokopyev, and Petelin to the station back in September sprang a leak on Dec. 14. Coolant from an external coolant loop and radiator on the spacecraft spewed into space for hours just as Prokopyev and Petelin were preparing to conduct a spacewalk. Out of an abundance of caution to prevent any exposure to the leaking substance, the spacewalk was canceled.\n\nOn Dec. 18, NASA used the station’s robotic arm, Canadarm2, to provide images and conduct an additional external inspection of the damaged spacecraft.\n\nAfter a joint investigation conducted by NASA and Roscosmos, the space agencies are confident that the damage was caused by a micrometeoroid impact that resulted in a hole of about one millimeter in diameter in the coolant loop.\n\nWhile it was determined that the leak posed no immediate threat to the station or crew, it left the MS-22 Soyuz spacecraft incapable of returning the trio of astronauts home safely.\n\nThe damaged coolant loop meant that the temperature and humidity inside the cabin of the Soyuz spacecraft could skyrocket, making for a very uncomfortable and claustrophobic return trip home, typically taking about six hours to complete.\n\n\nWhile it was determined that the leak posed no immediate threat to the station or crew, it left the MS-22 Soyuz spacecraft incapable of returning the trio of astronauts home safely.\n\nThe damaged coolant loop meant that the temperature and humidity inside the cabin of the Soyuz spacecraft could skyrocket, making for a very uncomfortable and claustrophobic return trip home, typically taking about six hours to complete.\n\nGoing forward, this will most likely impact the busy schedule of crew and cargo missions to the station for the rest of this year. How it impacts specific mission launch dates, such as NASA's next crewed mission, SpaceX's Crew-6, which was to launch from Kennedy Space Center in mid-February, has yet to be fully determined.\n\n"We're going to take the next couple of weeks to kind of lay out the plan," said Montalbano. The shift is expected to impact at least four crewed missions and two cargo resupply missions to the station through at least September.\n\n"Laying everything out is what we're going to plan now. We just need a couple more weeks to lay all that out," Montalbano said.\n\nhttps://blogs.nasa.gov/spacestation/2023/01/11/international-space-station-operations-soyuz-status-update/#:~:text=NASA%20astronaut%20Frank%20Rubio%20and,additional%20months%20on%20the%20station.\nInternational Space Station Operations, Soyuz Status Update\n\nNASA and Roscosmos are adjusting the International Space Station flight plan after completing an investigation into a coolant leak on the Soyuz MS-22 spacecraft docked to the station.\n\nNASA hosted a joint media briefing Wednesday about the Roscosmos-led investigation to update the public on the Soyuz status and the forward strategy.\n\nAs a part of the work, Roscosmos engineers determined the Soyuz MS-22 spacecraft is not viable for a normal crew return, but is available for crew return in an emergency aboard the space station. The Soyuz MS-22 will be replaced by the Soyuz MS-23 spacecraft that will launch to the space station without a crew on Monday, Feb. 20. NASA astronaut Frank Rubio and cosmonauts Sergey Prokopyev and Dmitri Petelin will return to Earth in the replacement Soyuz after spending several additional months on the station.\n\nNASA has been working with Roscosmos throughout the investigation and will continue to work with its Commercial Crew Program and Canadian, Japanese, and European partners to refine upcoming flight dates over the next several weeks. NASA also continues its discussions with SpaceX regarding the possibility of using the Crew-5 spacecraft to return additional crew in the event of a station emergency prior to the arrival of Soyuz MS-23.\n\nMeanwhile, NASA and SpaceX are prepared to launch the Crew-6 mission soon after Soyuz MS-23, incorporating the manifest changes previously mentioned. NASA still plans on having a direct handover between the Crew-5 and Crew-6 missions.\n\nOn Dec. 14, 2022, ground teams noticed significant leaking of external coolant from the aft portion of the Soyuz MS-22 spacecraft docked to the Rassvet module on the space station. The Soyuz spacecraft carried Prokopyev, Petelin, and Rubio into space after launching from the Baikonur Cosmodrome in Kazakhstan on Sept. 21.\n\nSpacesuits, eye scans, and cargo transfers were the dominant activities aboard the International Space Station on Wednesday. The seven Expedition 68 crew members also had time for space gardening and scientific hardware maintenance.\n\nNASA astronauts Nicole Mann, Josh Cassada, and Frank Rubio joined each other cleaning cooling loops, checking water, and installing batteries inside a pair of Extravehicular Mobility Units (EMUs), also known as spacesuits, throughout the day. Mann later joined Flight Engineer Koichi Wakata of the Japan Aerospace Exploration Agency (JAXA) readying tools and hardware for an upcoming spacewalk to prepare the space station for its fourth roll-out solar array.\n\nCassada then spent the afternoon servicing research samples to support a study exploring how to treat bone wounds and conditions both on Earth and in space. Rubio deployed a pair of Human Research Facility laptop computers before watering tomato plants growing for the Veg-05 space botany study. Wakata replaced cables and light devices on the Confocal space microscope that provides fluorescence imagery of biological samples.\n\nAll four astronauts also gathered for a short session of eye scans just before lunchtime using the Ultrasound 2 device inside the Columbus laboratory module. The regularly scheduled exams collect images of an astronaut’s cornea, lens, optic nerve, and retina to help doctors understand how living long-term in weightlessness affects the human eye.\n\nCommander Sergey Prokopyev and Flight Engineer Dmitri Petelin worked inside two different Progress space freighters transferring cargo in and out of the vehicles, as well as updating the station’s inventory management system. Prokopyev also worked on life support gear while Petelin checked out optical hardware and interfaces. Flight Engineer Anna Kikina configured and photographed electronics components then deployed radiation detectors throughout the orbiting lab.\n\nThe SpaceX Dragon cargo craft completed its station resupply mission when it parachuted to a splashdown off the coast of Florida at 5:19 a.m. EST today. The uncrewed Dragon returned about 4,400 pounds of lab hardware and scientific cargo for retrieval and analysis by engineers and researchers on Earth.\n\n--SUPERS--\nFile\n\n--VIDEO SHOWS--\n\n--LEAD IN--\n\n--VO SCRIPT--\n\n--SOT--\n\n--TAG--\n\n--REPORTER PKG-AS FOLLOWS--\n\n-----END-----CNN.SCRIPT-----\n\n--KEYWORD TAGS--\n\n--MUSIC INFO---\n

CNN Collection Details

LE 13H: [broadcast from April 17, 2020]

INA Details

SOCIAL ISSUES

ACTIVE SENIORS AND MORE ACTIVE SENIORS, ALSO ACTIVE MIDDLE-AGED PEOPLE, AND SOME FAMILY SCENES Very 1980s animated joggers, old people in white lawn bowling, playing chess in the park, playing billiards, faces Seniors boarding bus, seniors on bus, woman singing, THE AGING OF NORTH AMERICA Egyptian hieroglyphics, statue with eerie eyes ;B/W bearded mystic praying on mtn top, B/W mustachioed man twiddling prayer beads, Indian potter making bowl, street scene ;Roman statue, illumination, royal sarcophagus, 1890s ground-breaking ceremony, B/W man sawing log, Mennonite woman spinning ;Auto traffic, nurse helping old man walk, crowded sidewalk, Aerial tidy suburb, B/W table full of newborn babies baby boom ;B/W little league baseball game, kid tumbles, color 1950s home movies woman carrying little girl, kids fishing on dock ;Home movie little girl with baby doll, kids sitting in tree, 1950s crowded sidewalk, dancing, beauty pageant, peds & traffic Ken Dyckwald on 'Good Morning America' & 'Merv Griffin Show', couple walking in park with dog, Dyckwalk t/h ;Small informal business meeting, slide projector, aerobics class, endurance test, old man riding bicycle, seniors square dancing DJs phonograph, man calls square dance, old faces in audience, Dyckwald on how low average lifespans used to be... Three people dying at the ages 100, 45 and 2 would be an average lifespan of 49. Low average lifespans reflect infant mortality. People in medical research laboratory- some wearing space suits, man having endurance test on t treadmill, having chest x-ray EKG monitor, couple raising sail, sailing, woman pushing child on swing, woman looking at beach while kid plays in sand ;Three generations walking in park, mother & baby sitting on blanket, nuclear family walking in city, advertisements ;TV commercials, Linda Evans at award ceremony, Ronald & Nancy Reagan in audience, magazine article on the artificial heart; Woman conducting adult choir, seniors in audience, senior couple ice skating, senior woman learning to ice skate More clips from tv commercials & shows, people playing tennis in gym, Dyckwald on 'AM' talk show ;Kids on playground, golfers, playing tennis, aqua-aerobics class, old man on treadmill, having physical exam, doing sit-ups People warming up for marathon, running marathon, group doing tai chi, Dyckwald typing on P.C., families at park ;Woman putting on glove, THE GOLD MEDAL YEARS, Asian woman fencing, white kitty cat peeking thru fence ;Middle-aged woman using exercise bike in garden, old man windsurfing, black man bowling, woman sculling ;Woman sketching in park, shirtless man reading on park bench, clock tower, quiet street scenes, man reading in barbershop Old radio next to hair tonics, old client comes in to see old barber, Japanese doll in case Woman sewing, boxer warming up, man boxing at camera, bearded windsurfer he's fun to listen to... Inspecting sail, man sounds air horn, windsurfing competition, fencing competition, sculling competition, bowling competition; Sketching competition...art class, woman teaching fencing class, boxer jumping rope, junk in backyard, old man cleaning up, ends with him trying to explain some gizmo he uses for a table saw

Historic Films Details

DN-ZLB-023 Beta SP

UNIVERSAL NEWSREELS

Archive Films by Getty Images Details

ITN FEED

NDS. CR:68. VS OF A CLEAN UP OPERATION UNDERWAY IN PAKISTAN, FOLLOWING A DISASTER. VS OF DESTROYED HOMES AND DEAD LIVESTOCK. CR:92. JAPANESE VO. VS JAPANESE SOLDIERS CONDUCT MILITARY EXERCISES. CR:117. VS OF CHINESE OFFICIALS. A WOMAN ADDRESSES A BANQUET. PRIME MINISTER ZHAO ZIYANG GREETS DIGNITARIES. CHAIRMAN OF THE CENTRAL MILITARY COMMISSION, DENG XIAOPING, ATTENDS THE THEATRE. CR:150. HIGHLIGHTS FROM A FROG RACE IN SOUTH AFRICA. CR:176. VS OF A MEETING BETWEEN FOREIGN MINISTERS FROM 12 WESTERN EUROPEAN AND 9 LATIN AMERICAN COUNTRIES IN COSTA RICA. CR:200. VS LEBANESE CIVILIANS RUN FOR COVER AT THE SOUND OF GUNFIRE. CR:215. RUSSIAN CS ON THE COMPLETION OF A RAILWAY IN THE SOVIET UNION. CR:233. VS OF MOSLEMS IN PRISON CELLS (STANDING ROOM ONLY) IN EGYPT. CR:258. CS VO VS POLICE CONFISCATE A CACHE OF WEAPONS ABOARD A VESSEL, DESTINED FOR THE IRA (IRISH REPUBLICAN ARMY) IN IRELAND. CUTS OF THE ARMS SMUGGLERS IN POLICE CUSTODY. CR:282. CS VO MONTAGE OF SHOTS AS QUEEN ELIZABETH II AND PRINCE PHILIP ARRIVE AT AND VISIT TORONTO, CANADA. CR:310. VS OF A PILOT READYING HIS NEWFANGLED, ONE MAN PROPELLER AIRCRAFT. VS OF HIS FLIGHT. BARS. SLATE. CI: PERSONALITIES: ZHAO ZIYANG. PERSONALITIES: DENG XIAOPING. PERSONALITIES: ELIZABETH, QUEEN. PERSONALITIES: PHILIP, PRINCE. ODDITIES: FROG RACE. WAR: LEBANON. JUSTICE: ARRESTS. AVIATION: PLANES, COMMERCIAL.

ABCNEWS VideoSource Details

ALASKA JAPAN ECONOMY

ORIG. COLOR SOF / MAG. A ROLL:(1050') CUT STORY: VO WORDHAM. SU WORDHAM. LA MITSUBISHI CORP. BUILDING (MODERN, GLASS OFFICE BUILDING). SHOT OF JAP. GIRL IN OFFICE BEHIND DESK. PEOPLE GETTING OFF JAPAN AIRLINE. EXCELLENT SHOT OF MOON LIGHT ON BODY OF WATER IN B.G. TREES & HOMES IN DARKNESS IN F.G. SKY & WATER BEAUTIFULLY LIT. H.A. PAN OF ANCHORAGE IN DAY LIGHT. MS FISHING BOATS IN DOCK. SU MAN CLEANING FISH. TRAVELING SHOT (SHORT) OF PINES. BEAUTIFUL DUSK SHOT, SKY RED, OF SUN SETTING (WATER IN F.G.). H.A. OF HARBOR ACTIVITY, (GOOD) WOMAN PACKING CLEANED FISH (FILLETS) INTO SMALL BOXES W / JAPANESE WRITING ON THEM. SHOTS OF BOXES STACKED. MEN THROWING FISH FROM BIN INTO LARGE BOX. SIDE OF BUILDING B & B FISHERIES, INC. NICE SHOT ACROSS WATER OF HARBOR PARTIALLY ENVELOPED IN FOG. MAGNIFICIENT SEQUENCE, APPREX 300 FT. OF SUNSETS. SHOT OF SUN YELLOW AGAINST ORANGE FILLING ALMOST ENTIRE SCREEN. YELLOW-RED SUN IN RED H.G., MOON LIGHT & SUN LIGHT OVER WATER AT NIGHT. CU'S OF SKY'S & SKY & WATER. VERY FINE. SHOT OF FISHING BOAT ON WATER AT NIGHT. CU JAPAN AIRLINE INSIGNIA. CU JAPAN A.L. INFO BOARD. JAPAN PLANES ON RUNWAY. EST. MITSUBISHI BUILDING. STREET SCENES ANCHORAGE. J.A.L. BEING LOADED, LANDING, TAXIING, DEPLAN- ING. H.A.'S ANCHORAGE. CI: TRANSP: WATER: FISHING. INDUSTRIES: FISHING. GEOLOGY: TREES. GEOLOGY: SUNSET. BLDGS: DOCKS & PIERS ANCHORAGE, ALASKA. AVIATION: PLANES DISEMBARKING. GEOLOGY: HARBOR. GEOLOGY: FOG. GEOLOGY: SKY. AVIATION: PLANES: COMMERCIAL: AIRLINES. STREETS: CITIES: U. S. ANCHORAGE. GEOLOGY: NIGHT. U. S. RELATIONS: JAPAN.

ABCNEWS VideoSource Details

TF1 20 hours: [show of 28 May 2007]

INA Details

FULL TRANSCRIPT FOR CNN PRESIDENTIAL DEBATE

--FULL TRANSCRIPT--\nTonight, during CNN’s Presidential Debate, President Joe Biden and former President Donald Trump took questions from CNN anchors Dana Bash and Jake Tapper live from CNN’s Studios in Atlanta, Georgia.\n\nPlease see the full final rushed transcript below.\n\n\nMANDATORY CREDIT: CNN\n\n\n\nCNN LIVE DIGITAL STORY HIGHLIGHTS\n\nAsked about age, Biden says Trump is "a lot less competent"\n\nAsked about voter concerns regarding his age, President Joe Biden mentioned his opponent is only a few years younger than him, “but a lot less competent.”\n\n“First of all,” Biden said, “I spent half my career being criticized for being the youngest person in politics … and now I’m the oldest.”\n\n“This guy’s three years younger and a lot less competent,” Biden said.\n\nHe urged voters to “just look at the record, what I’ve done.”\n\nAsked the same question, Trump challenged Biden to a cognitive test. The pair then argued about their golf skills.\n\n\n\nTrump on Biden: "He is the worst president in the history of our country"\n\nWhen asked what he would do to make childcare more affordable, Trump continued his attacks on Biden, arguing that, “This shouldn’t be a debate … He is the worst president in the history of our country.” \n\n“??If he wins this election, our country doesn’t have a chance — not even a chance of coming out of this rut. We probably won’t have a country left anymore,” he continued. \n\nBiden responded by noting a survey of historians that said Trump was the worst president in history, and claimed Trump did “virtually nothing for childcare” during his presidency. \n\n“We should significantly increase the childcare tax credit. We should significantly increase the availability of single parents to be able to go back to work. And we should encourage businesses to have childcare facilities,” Biden added.\n\n\n\nTrump says he saved America's steel industry with tariffs. US Steel is a shell of its former self\n\nFormer President Donald Trump claimed that his administration saved America’s steel industry with tariffs on foreign steel.\n\nAmerica’s steel industry has been in decline for a century. Chinese steel, in particular, is significantly cheaper and therefore more popular than steel made in America. Trump’s tariffs did little to change the fortunes of the steel industry in America.\n\nThat’s evidenced by US Steel, which decades ago was the world’s biggest company. Last year, it announced it planned to sell itself to Nippon Steel, a Japanese rival, in a $14 billion deal.\n\nBiden came out publicly against that proposed deal, citing antitrust and foreign competition concerns.\n\n\n\nBiden says defeating Trump will keep Social Security solvent\n\nPresident Joe Biden vowed to keep Social Security solvent, saying that forcing wealthy Americans to “pay their fair share” is one way to ensure that happens.\n\nBut he added that the biggest thing that would keep Social Security solvent is defeating former President Donald Trump in the upcoming election.\n\n“He wants to get rid of Social Security,” Biden said. “He thinks there is plenty to cut in Social Security.\n\nIn response, Trump blamed Biden for “destroying” Social Security and said the current president “doesn’t know what he’s doing.” He claimed that “millions of people” are immigrating into the US and are taking services such as Social Security and Medicaid away from other Americans.\n\n\n\nBiden gets personal as he slams Trump's criminal conviction\n\nPresident Joe Biden launched a fiery set of criticisms against former President Donald Trump’s legal troubles, comparing his predecessor’s morals to an “alley cat” as he called him a “convicted felon.”\n\n“The crimes that you are still charged with – and think of all the civil penalties you have. How many billions of dollars do you owe in civil penalties for molesting a woman in public? For doing a whole range of things? Of having sex with a porn star on the night – while your wife was pregnant?” Biden asked. \n\nTrump was found guilty last month on 34 counts of falsifying business records related to a hush-money payment to an adult-film star in 2016. And last year, a jury found that Trump sexually abused E. Jean Carroll in a luxury department store dressing room in the spring of 1996 and awarded her $5 million for battery and defamation.\n\nBiden turned to Trump, and continued, “You have the morals of an alley cat.” \n\nTrump denied having sex with a porn star. \n\n\n\nTrump attacks Biden: "He caused the inflation"\n\n“He caused the inflation,” former President Donald Trump claimed, attacking President Joe Biden in a conversation about whether Biden’s economy is working for Black Americans.\n\nTrump also claimed that “there was no inflation” during his administration.\n\nThe causes of America’s inflation crisis are numerous. The pandemic led to massive supply chain disruptions that sent prices surging. Russia’s war with Ukraine exacerbated those costs and sent energy prices through the roof. And the Federal Reserve failed to understand the seriousness of the inflation crisis, keeping rates low for an extended period of time.\n\nOn top of that, stimulus checks distributed during both the Trump administration and the Biden administration helped boost inflation. \n\nInflation in America peaked in June 2022, with consumer prices surging 9.1% over the previous year. It’s now down to a still-high but much healthier 3.3%. But that’s significantly higher than the 1.4% inflation rate when Biden took office.\n\nAmerica’s inflation had been a non-issue for decades before Biden took office and was routinely below the Fed’s target 2% inflation rate during the Trump administration. But inflation was initially pushed to practically zero — artificially — during the pandemic lockdown. Reopening the economy contributed to inflation’s rebound.\n\n\n\nTrump says Putin's terms to end war in Ukraine war are "not acceptable"\n\nFormer President Donald Trump on Thursday said the terms Russian President Vladimir Putin has put forward to end Russia’s war in Ukraine are “not acceptable.”\n\nPutin has said Russia would only end its war in Ukraine if Kyiv surrenders the entirety of four regions claimed by Moscow and abandons its bid to join NATO.\n\nAfter initially dodging the question posed by CNN’s Dana Bash at the presidential debate in Atlanta, Trump was pressed by Bash a second time: “Are Putin’s terms acceptable to you?”\n\n“No, they’re not acceptable,” Trump said.\n\nTrump again claimed he would end the war in Ukraine if reelected, as he regularly does on the campaign trail, and again did not provide any specifics about how he would end the war, which is now in its third year.\n\n\nBiden touts proposed ceasefire deal for Gaza\n\nWhen asked what he would do to get Israel and Hamas to end the war in Gaza, Biden touted a plan that included trading the hostages in exchange for Palestinian prisoners and a continued “ceasefire with additional conditions.”\n\n“The only one who wants the war to continue is Hamas,” Biden said. “We’re still pushing hard to get them to accept.”\n\n\n\nTrump denies responsibility for the January 6 attack on US Capitol\n“On January 6, we had a great border. Nobody coming through,” he said. “We were energy independent. On January 6, we had the lowest taxes ever, we had the lowest regulations ever.”\n\n\n\n"My son was not a loser, was not a sucker. You're the sucker, you're the loser," Biden tells Trump\n“First of all, that was a made-up quote, ‘suckers and losers.’ They made it up. It was in a third-rate magazine that’s failing, like many of these magazines,” Trump said. “To think that I would, in front of generals and others, say ‘suckers and losers.’”\n\n\nBiden on Trump's Roe v. Wade claims: "Simply not true"\n“That is simply not true,” Biden responded. “Roe v. Wade does not provide for that — that’s not the circumstance. Only if a woman’s life is in danger, or she’s going to die. That’s the only circumstance where that can happen.”\n\n\nTrump says he will not block abortion medication as president\n“I put three great Supreme Court justices on the court and they happened to vote in favor of killing Roe v. Wade, and moving it back to the states,” he said. “Now the states are working it out.”\n\n\n\nFULL RUSH TRANSCRIPT\n\nTHE INFORMATION CONTAINED IN RUSH AND PREFEED TRANSCRIPTS IS A BEST POSSIBLE TEXTUAL REPRESENTATION OF THE APPLICABLE CONTENT. WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE RUSH AND PREFEED TRANSCRIPTS FILES DUE TO AUDIO IMPAIRMENTS.\n\n\n\nJAKE TAPPER, CNN HOST: We're live from Georgia, a key battleground state in the race for the White House. In just moments, the current U.S. president will debate the former U.S. president as their parties' presumptive nominees, a first in American history.\n\n\n\nWe want to welcome our viewers in the United States and around the world to our studios in Atlanta.\n\n\n\nThis is the CNN presidential debate.\n\n\n\nDANA BASH, CNN HOST: This debate is being produced by CNN and it's coming to you live on CNN, CNN International, CNN.com, CNN Max, and CNN Espanol.\n\n\n\nThis is a pivotal moment between President Joe Biden and former President Donald Trump in their rematch for the nation's highest office. Each will make his case to the American people with just over four months until Election Day.\n\n\n\nGood evening. I'm Dana Bash, anchor of CNN's "INSIDE POLITICS" and co-anchor of "STATE OF THE UNION".\n\n\n\nTAPPER: I'm Jake Tapper, anchor of CNN's "THE LEAD" and co-anchor of "STATE OF THE UNION".\n\n\n\nDana and I will co-moderate this evening. Our job he is to facilitate a debate between the two candidates tonight.\n\n\n\nBefore we introduce them, we wanted to share the rules of the debate with the audience at home.\n\n\n\nFormer President Trump will be on the left side of the screen. President Biden will be appearing on the right. A coin toss determined their positions. Each candidate will have two minutes to answer the question, and one minute each for responses and rebuttals. An additional minute for follow-up clarification or response is at the moderator's discretion.\n\n\n\nBASH: When it's time for our candidate to speak, his microphone will be turned on and his opponent's microphone will be turned off. Should a candidate interrupt when his microphone is muted, he will be difficult to understand for viewers at home.\n\n\n\nAt the end of the debate, each candidate will get two minutes for closing statements. There is no studio audience tonight.\n\n\n\nPre-written notes, props, or contact with campaign staff are not permitted during the debate. By accepting our invitation to debate, both candidates and their campaigns agreed to accept these rules.\n\n\n\nTAPPER: Now, please welcome the 46th of the United States, Joe Biden.\n\n\n\nJOE BIDEN, PRESIDENT OF THE UNITED STATES: Folks, how are you? Good to be here. Thank you.\n\n\n\nTAPPER: And please welcome the 45th president of the United States, Donald Trump.\n\n\n\n(MUSIC)\n\n\n\nTAPPER: Gentlemen, thanks so much for being here.\n\n\n\nLet's begin the debate. And let's start with the issue that voters consistently say is their top concern, the economy.\n\n\n\nPresident Biden, inflation has slowed, but prices remain high. Since you took office, the price of essentials has increased. For example, a basket of groceries that cost $100, then, now costs more than $120. And typical home prices have jumped more than 30 percent.\n\n\n\nWhat do you say to voters who feel they are worse off under your presidency than they were under President Trump?\n\n\n\nBIDEN: We've got to take a look at what I was left when I became president, what Mr. Trump left me.\n\n\n\nWe had an economy that was in freefall. The pandemic was so badly handled. Many people were dying. All he said was it's not that serious, just inject a little bleach in your arm. You'll be all right.\n\n\n\nThe economy collapsed. There were no jobs. The unemployment rate rose to 15 percent. It was terrible.\n\n\n\nAnd so, what we had to do is try to put things back together again. And that's exactly what we began to do. We created 15,000 new jobs. We brought out in a position where we have 800,000 new manufacturing jobs.\n\n\n\nBut there's more to be done. There's more to be done. Working-class people are still in trouble.\n\n\n\nI come from Scranton, Pennsylvania. I come of household where the kitchen table -- if things weren't able to be met during the month, was a problem. Price of eggs, the price of gas, the price of housing, the price of a whole range of things.\n\n\n\nThat's why I'm working so hard to make sure I deal with those problems, and we're going to make sure that we have reduced the price of housing. We're going to make sure we build 2 million new units. We're going to make sure we cap rents, so corporate greed can't take over.\n\n\n\nThe combination of what I was left with and corporate greed are the reason why we're in this problem right now.\n\n\n\nIn addition to that, we're in a situation where if you had to take a look at all that was done at his administration, he didn't do much at all. By the time he left, there's -- things were in chaos, literally chaos.\n\n\n\nAnd so we put things back together. We created, as I said, those jobs. We made sure we had a situation where we now -- we brought down the price of prescription drugs, which is a major issue for many people, to $15 for -- for an insulin shot, as opposed to $400. No senior has to pay more than $200 for any drug, all the drugs they can include (ph) beginning next year.\n\n\n\nAnd the situation is making -- and we're going to make that available to everybody, to all Americans. So we're working to bring down the price of -- around the kitchen table. And that's what we're going to get done.\n\n\n\nTAPPER: Thank you.\n\n\n\nPresident Trump?\n\n\n\nDONALD TRUMP, FORMER PRESIDENT OF THE UNITED STATES (R) AND CURRENT U.S. PRESIDENTIAL CANDIDATE (R): We had the greatest economy in the history of our country. We have never done so well. Every -- everybody was amazed by it. Other countries were copying us.\n\n\n\nWe got hit with COVID. And when we did, we spent the money necessary so we wouldn't end up in a Great Depression, the likes of which we had in 1929. By the time we finished -- so we did a great job. We got a lot of credit for the economy, a lot of credit for the military, and no wars and so many other things. Everything was rocking good.\n\n\n\nBut the thing we never got the credit for, and we should have, is getting us out of that COVID mess. He created mandates -- that was a disaster for our country.\n\n\n\nBut other than that, we had -- we had given them back a -- a country where the stock market actually was higher than pre-COVID. And nobody thought that was even possible. The only jobs he created are for illegal immigrants and bounce-back jobs, they're bounced back from the COVID.\n\n\n\nHe has not done a good job. He has done a poor job. And inflation's killing our country. It is absolutely killing us.\n\n\n\nTAPPER: Thank you.\n\n\n\nPresident Biden?\n\n\n\nBIDEN: Well, look, the greatest economy in the world, he's the only one who thinks that, I think. I don't know anybody else who thinks it was great -- he had the greatest economy in the world.\n\n\n\nAnd, you know, the fact of the matter is that we found ourselves in a situation where his economy, he rewarded the wealthy. He had the largest tax cut in American history, $2 trillion. He raised the deficit larger than any president has in any one term. He's the only president other than Herbert Hoover who has lost more jobs than he had when he began, since Herbert Hoover. The idea that he did something that was significant.\n\n\n\nAnd the military, you know, when he was president, they were still killing people in Afghanistan. And he didn't do anything about that. When he was president, we were still finding ourselves in a position where you had a notion that we were this safe country. The truth is, I'm the only president this century that doesn't have any this -- this decade, that doesn't have any troops dying anywhere in the world, like he did.\n\n\n\nTAPPER: President Trump, I want to follow up, if I can, you want --\n\n\n\n(CROSSTALK)\n\n\n\nTRUMP: Am I allowed to respond to him?\n\n\n\nTAPPER: Well, I'm going to ask you a follow-up. You can do whatever you want with the minute that we give you. I want to follow up. You want to impose a 10 percent tariff on all goods coming into the U.S. How will you ensure that that doesn't drive prices even higher?\n\n\n\nTRUMP: It's not going to drive them higher. It's just going to cause countries that have been ripping us off for years, like China -- and many others, in all fairness to China -- it's going to just force them to pay us a lot of money, reduce our deficit tremendously, and give us a lot of power for other things.\n\n\n\nBut he -- he made a statement. The only thing he was right about is I gave you the largest tax cut in history. I also gave you the largest regulation cut in history. And that's why we had all the jobs. And the jobs went down and then they bounced back and he's taking credit for bounce-back jobs. You can't do that.\n\n\n\nHe also said he inherited 9 percent inflation. No, he inherited almost no inflation, and it stayed that way for 14 months. And then it blew up under his leadership because they spent money like a bunch of people that didn't know what they were doing. And they don't know what they were doing. It was the worst -- probably the worst administration in history. There's never been.\n\n\n\nAnd as far as Afghanistan is concerned, I was getting out of Afghanistan, but we were getting out with dignity, with strength, with power. He got out, it was the most embarrassing day in the history of our country's life.\n\n\n\nTAPPER: President Trump, over the last eight years, under both of your administrations, the national debt soared to record highs. And according to a new non-partisan analysis, President Trump, your administration approved $8.4 trillion in new debt.\n\n\n\nWhile so far, President Biden, you've approved $4.3 trillion in new debt.\n\n\n\nSo former President Trump, many of the tax cuts that you signed into law are set to expire next year. You want to extend them and go even further, you say. With the U.S. facing trillion-dollar deficits and record debt, why should top earners and corporations pay even less in taxes than they do now?\n\n\n\nTRUMP: Because the tax cuts spurred the greatest economy that we've ever seen just prior to COVID, and even after COVID. It was so strong that we were able to get through COVID much better than just about any other country. But we spurred -- that tax spurred. Now, when we cut the taxes, as example, the corporate tax was cut down to 21 percent from 39 percent, plus beyond that, we took in more revenue with much less tax and companies were bringing back trillions of dollars back into our country.\n\n\n\nThe country was going like never before. And we were ready to start paying down debt. We were ready to start using the liquid gold right under our feet, the oil and gas right under our feet. We were going to have something that nobody else has had. We got hit with COVID. We did a lot to fix it. I gave him an unbelievable situation with all of the therapeutics and all of the things that we came up with, we -- we gave him something great.\n\n\n\nRemember, more people died under his administration, even though we had largely fixed it. More people died under his administration than our administration, and we were right in the middle of it.\n\n\n\nSomething which a lot of people don't like to talk about, but he had far more people dying in his administration.\n\n\n\nHe did the mandate, which is a disaster, mandating it. The vaccine went out. He did a mandate on the vaccine, which is the thing that people most objected to about the vaccine. And he did a very poor job, just a very poor job.\n\n\n\nAnd I will tell you, not only poor there, but throughout the entire world, we're no longer respected as a country. They don't respect our leadership. They don't respect the United States anymore.\n\n\n\nWe're like a Third World nation between weaponization of his election, trying to go after his political opponent. All of the things he's done. We've become like a Third World nation, and it's a shame.\n\n\n\nThe damage he's done to our country -- and I'd love to ask him, and will, why he allowed millions of people to come in here from prisons, jails, and mental institutions to come into our country and destroy our country.\n\n\n\nTAPPER: President Trump, we will get to immigration later in this block. President Biden, I want to give you an opportunity to respond to this question about the national debt.\n\n\n\nBIDEN: He had the largest national debt of any president in a four-your period, number one. Number two, he -- that $2 trillion tax cut benefited the very wealthy. I -- what I'm going to do is fix the tax system.\n\n\n\nFor example, we have a thousand trillionaires in America -- I mean, billionaires in America. And what's happening? They're in a situation where they, in fact, pay 8.2 percent in taxes. If they just paid 24 percent or 25 percent, either one of those numbers, they'd raised $500 million -- billion dollars, I should say, in a 10-year period.\n\n\n\nWe'd be able to right wipe out his debt. We'd be able to help make sure that all those things we need to do -- childcare, elder care, making sure that we continue to strengthen our healthcare system, making sure that we're able to make every single solitary person eligible for what I've been able to do with the -- with -- with -- with the COVID. Excuse me, with dealing with everything we have to do with -- look, if -- we finally beat Medicare.\n\n\n\nTAPPER: Thank you, President Biden. President Trump?\n\n\n\nTRUMP: Well, he's right. He did beat Medicare. He beat it to death. And he's destroying Medicare because all of these people are coming in, they're putting them on Medicare. They're putting them on Social Security. They're going to destroy Social Security.\n\n\n\nThis man is going to single-handedly destroy Social Security. These millions and millions of people coming in, they're trying to put them on Social Security. He will wipe out Social Security. He will wipe out Medicare. So he was right in the way he finished that sentence. And it's a shame.\n\n\n\nWhat's happened to our country in the last four years is not to be believed. Foreign countries, I'm friends with a lot of people. They cannot believe what happened to the United States of America. We're no longer respected. They don't like us.\n\n\n\nWe give them everything they want, and they think we're stupid. They think we're very stupid people.\n\n\n\nWhat we're doing for other countries, and they do nothing for us. What this man has done is absolutely criminal.\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nDana?\n\n\n\nBASH: This is the first presidential election since the Supreme Court overturned Roe v. Wade. This morning, the court ruled on yet another abortion case, temporarily allowing emergency abortions to continue in Idaho, despite that state's restrictive ban.\n\n\n\nFormer President Trump, you take credit for the decision to overturn Roe v. Wade, which returned the issue of abortion to the states.\n\n\n\nTRUMP: Correct.\n\n\n\nBASH: However, the federal government still plays a role in whether or not women have access to abortion pills. They're used in about two-thirds of all abortions.\n\n\n\nAs president, would you block abortion medication?\n\n\n\nTRUMP: First of all, the Supreme Court just approved the abortion pill. And I agree with their decision to have done that, and I will not block it.\n\n\n\nAnd if you look at this whole question that you're asking, a complex, but not really complex.\n\n\n\nFifty-one years ago, you had Roe v. Wade, and everybody wanted to get it back to the states, everybody, without exception, Democrats, Republicans, liberals, conservatives. Everybody wanted it back. Religious leaders.\n\n\n\nAnd what I did is I put three great Supreme Court justices on the court, and they happened to vote in favor of killing Roe v. Wade and moving it back to the states. This is something that everybody wanted.\n\n\n\nNow, 10 years ago or so, they started talking about how many weeks and how many of this are getting into other things, but every legal scholar, throughout the world, the most respected, wanted it brought back to the states. I did that.\n\n\n\nNow the states are working it out. If you look at Ohio, it was a decision that was -- it was -- it was an end result that was a little bit more liberal than you would have thought. Kansas, I would say the same thing. Texas is different. Florida is different.\n\n\n\nBut they're all making their own decisions right now. And right now, the states control it. That's the vote of the people.\n\n\n\nLike Ronald Reagan, I believe in the exceptions, I am a person that believes. And frankly, I think it's important to believe in the exceptions. Some people, you have to follow your heart, some people don't believe in that.\n\n\n\nBut I believe in the exceptions for rape, incest, and the life of the mother. I think it's very important. Some people don't. Follow your heart.\n\n\n\nBut you have to get elected also and -- because that has to do with other things. You've got to get elected.\n\n\n\nThe problem they have is they're radical because they will take the life of a child in the eighth month, the ninth month, and even after birth -- after birth.\n\n\n\nIf you look at the former governor of Virginia, he was willing to do this. He said, we'll put the baby aside and we'll determine what we do with the baby. Meaning, we'll kill the baby.\n\n\n\nWhat happened is we brought it back to the states and the country is now coming together on this issue. It's been a great thing.\n\n\n\nBASH: Thank you.\n\n\n\nPresident Biden?\n\n\n\nBIDEN: It's been a terrible thing, what you've done.\n\n\n\nThe fact is that the vast majority of constitutional scholars supported Roe when it was decided, supported Roe. And that was -- that's -- this idea that they were all against it is just ridiculous.\n\n\n\nAnd this is the guy who says the states should be able to have it. We're (ph) in a state where in six weeks, you don't even know whether you're pregnant or not, but you cannot see the doctor or have your -- and have him decide on what your circumstances are, whether you need help.\n\n\n\nThe idea that states are able to do this is a little like saying, we're going to turn civil rights back to the states. Let each state have a different rule.\n\n\n\nLook, there's so many young women who have been -- including a young woman who just was murdered and he -- he went to the funeral. The idea that she was murdered by a -- by --by an immigrant coming in, and they talk about that. But here's the deal, there's a lot of young women who are being raped by their -- by their in-laws, by their -- by their spouses, brothers and sisters, by -- just -- it's just -- it's just ridiculous. And they can do nothing about it.\n\n\n\nAnd they tried to arrest them when they cross state lines.\n\n\n\nBASH: Thank you.\n\n\n\nTRUMP: There have been many young women murdered by the same people he allows to come across our border. We have a border that's the most dangerous place anywhere in the world -- considered the most dangerous place anywhere in the world. And he opened it up, and these killers are coming into our country. And they are raping and killing women, and it's a terrible thing.\n\n\n\nAs far as the abortion is concerned, it is now back with the states. The states are voting. In many cases, they -- it's frankly a very liberal decision. In many cases, it's the opposite.\n\n\n\nBut they're voting. And it's bringing it back to the vote of the people, which is what everybody wanted, including the founders, if they knew about this issue, which frankly they didn't. But they would have -- everybody want it brought back.\n\n\n\nRonald Reagan wanted it brought back. He wasn't able to get it.\n\n\n\nEverybody wanted it brought back and many presidents had tried to get it back. I was the one to do it.\n\n\n\nAnd again, this gives it the vote of the people. And that's where they wanted it. Every legal scholar wanted it that way.\n\n\n\nBASH: Staying on the topic of abortion, President Biden. Seven states --\n\n\n\nBIDEN: (OFF-MIKE)\n\n\n\nBASH: I'll let you do that. This is the same topic.\n\n\n\nSeven states have no legal restrictions on how far into a pregnancy a woman can obtain an abortion. Do you support any legal limits on how late a woman should be able to terminate a pregnancy?\n\n\n\nBIDEN: I supported Roe v. Wade, which had three trimesters. First time is between a woman and a doctor. Second time is between the doctor and an extreme situation. And a third time is between the doctor -- I mean, it'd be between the woman and the state.\n\n\n\nThe idea that the politicians -- that the founders wanted the politicians to be the ones making decisions about women's health is ridiculous. That's the last -- no politician should be making that decision.\n\n\n\nA doctor should be making those decisions. That's how it should be run. That's what you're going to do.\n\n\n\nAnd if I'm elected, I'm going to restore Roe v. Wade.\n\n\n\nTRUMP: So that means he can take the life of the baby in the ninth month and even after birth, because some states -- Democrat-run -- take it after birth. Again, the governor -- former governor of Virginia: put the baby down, then we decide what to do with it.\n\n\n\nSo he's in -- he's willing to, as we say, rip the baby out of the womb in the ninth month and kill the baby.\n\n\n\nNobody wants that to happen. Democrat --\n\n\n\nBIDEN: (OFF-MIKE) No.\n\n\n\nTRUMP: -- or Republican, nobody wants it to happen.\n\n\n\nBIDEN: (OFF-MIKE) You're lying.\n\n\n\nThat is simply not true. That Roe v. Wade does not provide for that. That's not the circumstance. Only when the woman's life is in danger, if she's going to die -- that's the only circumstance in which that can happen.\n\n\n\nBut we are not for late term abortion, period -- period, period.\n\n\n\nTRUMP: Under Roe v. Wade, you have late term abortion. You can do whatever you want, depending on the state. You can do whatever you want. We don't think that's a good thing. We think it's a radical thing.\n\n\n\nWe think the Democrats are the radicals, not the Republicans.\n\n\n\nBIDEN: For 51 years, that was the law. Fifty-one years, Constitutional Scholarship said it was the right way to go. Fifty-one years, and it was taken away because this guy put very conservative members on the Supreme Court. He takes credit for taking it away.\n\n\n\nWhat's he going to do? What's he going to do, in fact, if -- if the MAGA Republicans -- he gets elected and the MAGA Republicans control of the Congress and they pass a universal ban on abortion, period, across the board, at six weeks, or seven, or eight or ten weeks, something very, very conservative. Is he going to sign that bill?\n\n\n\nI'll veto it. He'll sign it.\n\n\n\nBASH: Thank you.\n\n\n\nTRUMP: (OFF-MIKE)\n\n\n\nTAPPER: Let's turn now to the issue of immigration and border security. President Biden, a record number of migrants have illegally crossed the southern border on your watch, overwhelming border states and overburdening cities such as New York and Chicago, and in some cases causing real safety and security concerns.\n\n\n\nGiven that, why should voters trust you to solve this crisis?\n\n\n\nBIDEN: Because we worked very hard to get a bipartisan agreement that not only changed all of that, but it made sure that we are in a situation where you had no circumstance where they could come across the border with the number of border police there are now. We significantly increased the number of asylum officers. Significantly -- by the way, the Border Patrol men endorsed me, endorsed my position.\n\n\n\nIn addition to that, we found ourselves in a situation where, when he was president, he was taking -- separating babies from their mothers, putting them in cages, making sure the families were separated. That's not the right way to go.\n\n\n\nWhat I've done -- since I've changed the law, what's happened? I've changed it in a way that now you're in a situation where there are 40 percent fewer people coming across the border illegally. That's better than when he left office.\n\n\n\nAnd I'm going to continue to move until we get the total ban on the -- the total initiative relative to what we're going to do with more Border Patrol and more asylum officers.\n\n\n\nTAPPER: President Trump?\n\n\n\nTRUMP: I really don't know what he said at the end of that sentence. I don't think he knows what he said either.\n\n\n\nLook, we had the safest border in the history of our country. The border -- all he had to do was leave it. All he had to do was leave it. He decided to open up our border, open up our country to people that are from prisons, people that are from mental institutions, insane asylum, terrorists.\n\n\n\nWe have the largest number of terrorists coming into our country right now. All terrorists all over the world, not just in South America, all over the world. They come from the Middle East, everywhere, all over the world. They're pouring in. And this guy just left it open.\n\n\n\nAnd he didn't need legislation. Because I didn't have legislation, I said close the border. We had the safest border in history. In that final couple of months of my presidency, we had, according to Border Patrol, who is great -- and, by the way, who endorsed me for president. But I won't say that. But they endorsed me for president. Brandon, just speak to him.\n\n\n\nBut look, we had the safest border in history. Now we have the worst border in history. There's never been anything like it. And people are dying all over the place, including the people that are coming up in caravans.\n\n\n\nTAPPER: Thank you, President Trump. President Biden?\n\n\n\nBIDEN: The only terrorist who has done anything crossing the border is one who came along and killed three under his administration, killed -- an al-Qaida person in his administration, killed three American soldiers -- killed three American soldiers. That's the only terrorist that's there.\n\n\n\nI'm not saying no terrorist ever got through. But the idea they're emptying their prisons, we're welcoming these people, that's simply not true. There's no data to support what he said. Once again, he's exaggerating. He's lying.\n\n\n\nTAPPER: President Trump, staying on the topic of immigration, you've said that you're going to carry out, quote, "the largest domestic deportation operation in American history," unquote.\n\n\n\nDoes that mean that you will deport every undocumented immigrant in America, including those who have jobs, including those whose spouses are citizens, and including those who have lived here for decades? And if so, how will you do it?\n\n\n\nTRUMP: Just one second. He said we killed three people. The people we killed are al-Baghdadi and Soleimani, the two greatest terrorists -- biggest terrorists anywhere in the world, and it had a huge impact on everything, not just border, on everything.\n\n\n\nHe's the one that killed people with the bad water, including hundreds of thousands of people dying and also killing our citizens when they come in. We -- we are living right now in a rat's nest. They're killing our people in New York, in California, in every state in the union because we don't have borders anymore. Every state is now a border.\n\n\n\nAnd because of his ridiculous, insane and very stupid policies, people are coming in and they're killing our citizens at a level that we've never seen. We call it migrant crime. I call it Biden migrant crime. They're killing our citizens at a level that we've never seen before. And you're reading it, like these three incredible young girls over the last few days.\n\n\n\nOne of them, I just spoke to the mother, and they just had the funeral for this girl, 12 years old. This is horrible, what's taken place. What's taken place in our country -- we're literally an uncivilized country now. He doesn't want it to be. He just doesn't know.\n\n\n\nHe opened the borders, nobody's ever seen anything like. And we have to get a lot of these people out and we have to get them out fast, because they're going to destroy our country.\n\n\n\nJust take a look at where they're living. They're living in luxury hotels in New York City and other places. Our veterans are on the street. They're dying, because he doesn't care about our veterans. He doesn't care. He doesn't like the military, at all. And he doesn't care about our veterans.\n\n\n\nNobody had been worse. I had the highest approval rating for veterans, taking care of the V.A. He has the worst. He's gotten rid of all the things that I approved -- Choice, that I got through Congress. All of the different things I approved, they abandoned.\n\n\n\nWe had, by far, the highest, and now it's down in less than half because he's done -- all these great things that we did -- and I think he did it just because I approved it, which is crazy. But he has killed so many people at our border by allowing --\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nTRUMP: -- all of these people to come in.\n\n\n\nTAPPER: President Biden --\n\n\n\nTRUMP: And it's a very sad day in America.\n\n\n\nTAPPER: President Biden, you have the mic.\n\n\n\nBIDEN: Every single thing he said is a lie, every single one. For example, veterans are a hell of a lot better off since I passed the PACT Act. One million of them now have insurance, and their families have it. And their families have it, because what happened, whether was Agent Orange or burn pits, they're all being covered now. And he -- his group opposed that.\n\n\n\nWe're also in a situation where we have great respect for veterans. My -- my son spent a year in Iraq, living next to one of those burn pits, came back with stage four glioblastoma. I was recently in -- in -- in France for D-Day, and I spoke to all -- about those heroes that died. I went to the World War II cemetery -- World War I cemetery he refused to go to. He was standing with his four-star general, and he told him -- he said, "I don't want to go in there because they're a bunch of losers and suckers."\n\n\n\nMy son was not a loser. He was not a sucker. You're the sucker. You're the loser.\n\n\n\nTAPPER: President Trump?\n\n\n\nTRUMP: First of all, that was a made-up quote, "suckers and losers." They made it up. It was in a third-rate magazine that's failing, like many of these magazines. He made that up. He put it in commercials. We've notified 'em.\n\n\n\nWe had 19 people that said I didn't say it. And think of this, who would say -- I'm at a cemetery, or I'm talking about our veterans -- because nobody's taken better care -- I'm so glad this came up, and he brought it up. There's nobody that's taken better care of our soldiers than I have.\n\n\n\nTo think that I would, in front of generals and others, say suckers and losers -- we have 19 people that said it was never said by me. It was made up by him, just like Russia, Russia, Russia was made up, just like the 51 intelligence agents are made up, just like the new thing with the 16 economists are talking.\n\n\n\nIt's the same thing. Fifty-one intelligence agents said that the laptop was Russia disinformation. It wasn't. That came from his son, Hunter. It wasn't Russia disinformation. He made up the suckers and losers, so he should apologize to me right now.\n\n\n\nBIDEN: You had a four-star general stand at your side, who was on your staff, who said you said it, period. That's number one.\n\n\n\nAnd, number two, the idea -- the idea that I have to apologize to you for anything along the lines. We've done more for veterans than any president has in American history -- American history. And they now -- and their family. The only sacred obligation we have as a country is to care for our veterans when they come home, and their families, and equip them when they go to war.\n\n\n\nThat's what we're doing. That's what the V.A. is doing now. They're doing more for veterans than ever before in our history.\n\n\n\nTAPPER: All right. Thank you so much.\n\n\n\nBASH: Let's move to the topic of foreign policy. I want to begin with Russia's war against Ukraine, which is now in its third year.\n\n\n\nFormer President Trump, Russian President Vladimir Putin says he'll only end this war if Russia keeps the Ukrainian territory it has already claimed and Ukraine abandons its bid to join NATO.\n\n\n\nAre Putin's terms acceptable to you?\n\n\n\nTRUMP: First of all, our veterans and our soldiers can't stand this guy. They can't stand him. They think he's the worst commander in chief, if that's what you call him, that we've ever had. They can't stand him. So let's get that straight. And they like me more than just about any of them. And that's based on every single bit of information.\n\n\n\nAs far as Russia and Ukraine, if we had a real president, a president that knew -- that was respected by Putin, he would have never -- he would have never invaded Ukraine. A lot of people are dead right now, much more than people know.\n\n\n\nYou know, they talk about numbers. You can double those numbers, maybe triple those numbers. He did nothing to stop it. In fact, I think he encouraged Russia from going in.\n\n\n\nI'll tell you what happened. He was so bad with Afghanistan; it was such a horrible embarrassment, most embarrassing moment in the history of our country, that when Putin watched that and he saw the incompetence that he should -- he should have fired those generals like I fired the one that you mentioned. And so he's got no love lost. But he should have fired those generals.\n\n\n\nNo general got fired for the most embarrassing moment in the history of our country, Afghanistan, where we left billions of dollars of equipment behind; we lost 13 beautiful soldiers and 38 soldiers were obliterated. And by the way, we left people behind too. We left American citizens behind.\n\n\n\nWhen Putin saw that, he said, you know what, I think we're going to go in and maybe take my -- this was his dream. I talked to him about it, his dream. The difference is he never would have invaded Ukraine. Never. Just like Israel would have never been invaded in a million years by Hamas. You know why? Because Iran was broke with me. I wouldn't let anybody do business with them. They ran out of money. They were broke. They had no money for Hamas. They had no money for anything. No money for terror.\n\n\n\nThat's why you had no terror at all during my administration. This place, the whole world is blowing up under him.\n\n\n\nBASH: President Biden.\n\n\n\nBIDEN: I've never heard so much malarkey in my whole life. Look, the fact of the matter is that we're in a situation where -- let's take the last point first, Iran attacked American troops, killed, caused brain damage for a number of these troops, and he did nothing about it. Recently, when he was president, they attacked. He said, they're just having headaches. That's all it is. We didn't do a thing when the attack took place. Number one.\n\n\n\nNumber two, we got over 100,000 Americans and others out of Afghanistan during that airlift. Number three, we found ourselves in a situation where, if you take a look at what Trump did in Ukraine, he's -- this guy told Ukraine -- told Trump, do whatever you want and do whatever you want. And that's exactly what Trump did to Putin, encouraged him, do whatever you want. And he went in.\n\n\n\nAnd listen to what he said when he went in, he was going to take Kyiv in five days, remember? Because it's part of the old Soviet Union. That's what he wanted to re-establish Kyiv. And he in fact, didn't do it at all. He didn't -- wasn't able to get it done. And they've lost over -- they've lost thousands and thousands of troops, 500,000 troops.\n\n\n\nBASH: Thank you. President Trump --\n\n\n\nTRUMP: I never said that.\n\n\n\nBASH: -- come back to you for one minute. I just want to go back to my original question, which is, are Putin's terms acceptable to you, keeping the territory in Ukraine?\n\n\n\nTRUMP: No, they're not acceptable. No, they're not acceptable. But look, this is a war that never should have started. If we had a leader in this war, he led everybody along. He's given $200 billion now or more to Ukraine. He's given $200 billion. That's a lot of money. I don't think there's ever been anything like it. Every time that Zelenskyy comes to this country, he walks away with $60 billion dollars, he's the greatest salesman ever.\n\n\n\nAnd I'm not knocking him, I'm not knocking anything. I'm only saying, the money that we're spending on this war, and we shouldn't be spending, it should have never happened. I will have that war settled between Putin and Zelenskyy as president-elect before I take office on January 20th. I'll have that war settled.\n\n\n\nPeople being killed so needlessly, so stupidly, and I will get it settled and I'll get it settled fast before I take office.\n\n\n\nBASH: President Biden, you have a minute.\n\n\n\nBIDEN: The fact is that Putin is a war criminal. He's killed thousands and thousands of people. And he has made one thing clear, he wants to re-establish what was part of the Soviet Empire, not just a piece, he wants all of Ukraine. That's what he wants. And then do you think he'll stop there? Do you think he'll stop when he -- if he takes Ukraine? What do you think happens to Poland? What do you think of Belarus? What do you think happens to those NATO countries?\n\n\n\nAnd so, if you want a war, you ought to find out what he's going to do. Because if, in fact, he does what he says and walks away -- by the way, all that money we give Ukraine and from weapons we make here in the United States, we give them the weapons, not the money at this point. And our NATO allies have produced as much funding for Ukraine as we have. That's why it's -- that's why we're strong.\n\n\n\nBASH: Thank you. Moving on to the Middle East. In October, Hamas attacked Israel, killing more than a thousand people and taking hundreds of hostages. Among those held and thought to still be alive are five Americans. Israel's response has killed thousands of Palestinians and created a humanitarian crisis in Gaza.\n\n\n\nPresident Biden, you've put forward a proposal to resolve this conflict. But so far, Hamas has not released the remaining hostages and Israel is continuing its military offensive in Gaza. So, what additional leverage will you use to get Hamas and Israel to end the war? You have two minutes.\n\n\n\nBIDEN: Number one, everyone from the United Nations Security Council straight through to the G7 to the Israelis and Netanyahu himself have endorsed the plan I put forward, endorsed the plan I put forward, which has three stages to it.\n\n\n\nThe first stage is to treat the hostages for a ceasefire. Second phase is a ceasefire with additional conditions. The third phase is know the end of the war. The only one who wants the war to continue is Hamas, number one. They're the only ones standing down (ph).\n\n\n\nWe're still pushing hard from -- to get them to accept. In the meantime, what's happened in Israel? We're finally -- the only thing I've denied Israel was 2,000-pound bombs. They don't work very well in populated areas. They kill a lot of innocent people. We are providing Israel with all the weapons they need and when they need them. And by the way, I'm the guy that organized the world against Iran when they had a full-blown kind of ballistic missile attack on Israel. No one was hurt. No one Israeli was accidentally killed. And it stopped. We saved Israel. We are the biggest producer of support for Israel than anyone in the world. And so, that's -- they are two different things.\n\n\n\nHamas cannot be allowed to be continued. We continue to send our experts and our intelligence people to how they can get Hamas like we did Bin Laden. You don't have to do it. And by the way, they've been greatly weakened, Hamas, greatly weakened, and they should be. They should be eliminated. But, you got to be careful for what you use these certain weapons among population centers.\n\n\n\nTRUMP: Just going back to Ukraine for one second. We have an ocean separating us. The European nations together have spent $100 billion or maybe more than that, less than us. Why doesn't he call them so you got to put up your money like I did with NATO? I got them to put up hundreds of billions of dollars. The Secretary General of NATO said Trump did the most incredible job I've ever seen. You wouldn't -- they wouldn't have any -- they were going out of business. We were spending -- almost 100 percent of the money was paid by us. He didn't do that. He is getting all -- you got to ask these people to put up the money. We're over $100 billion more spent, and it has a bigger impact on them, because of location, because we have an ocean in between.\n\n\n\nYou got to ask him, as far as Israel and Hamas, Israel is the one that wants to go. He said the only one who wants to keep going is Hamas. Actually, Israel is the one, and you should them go and let them finish the job. He doesn't want to do it. He has become like a Palestinian. But, they don't like him because he is a very bad Palestinian. He is a weak one.\n\n\n\nBASH: President Biden, you have a minute.\n\n\n\nBIDEN: I've never heard so much foolishness. This a guy who wants to get out of NATO. You're going to stay in NATO or you're going to pull out of NATO? The idea that we have -- our strength lies in our alliances as well. It may be a big ocean, but we're ever able to avoid a war in Europe, a major war in Europe? What happens if in fact you have Putin continue to go into NATO? We have an Article Five agreement, attack on one is attack on all. You want to start the nuclear war he keeps talking about. Go ahead. Let Putin go in and control Ukraine and then move on to Poland and other places. See what happens then.\n\n\n\nHe has no idea what the hell he is talking about. And by the way, I got 50 other nations around the world to support Ukraine, including Japan and South Korea, because they understand that this was this -- this kind of dislocation has a serious threat to the whole world peace. No major war in Europe has ever been able to be contained just to Europe.\n\n\n\nBASH: President Trump, just a follow-up, would you support the creation of an independent Palestinian state in order to achieve peace in the region?\n\n\n\nTRUMP: I'd have to see. But, before we do that, the problem we have is that we spend all the money. So, they kill us on trade. I made great trade deals with the European nations, because if you add them up, they're about the same size economically. Their economy is about the same size as the United States. And they were with (ph) no cars. No. They don't want anything that we have. But, we're supposed to take their cars, their food, their everything, their agriculture. I changed that.\n\n\n\nBut, the big thing I changed is they don't want to pay. And the only reason that he can play games with NATO is because I got them to put up hundreds of billions of dollars. I said, and he is right about this, I said, no, I'm not going to support NATO if you don't pay. They asked me that question. Would you guard us against Russia at a very secret meeting of the 28 states at that time, nations at that time? And they said, no, if you don't pay, I won't do that. And you know what happened? Billions and billions of dollars came flowing in the next day and the next months. But now, we're in the same position. We're paying everybody's bills.\n\n\n\nBASH: Thank you.\n\n\n\nTAPPER: Let's turn to the issue of democracy. Former President Trump, I want to ask you about January 6, 2021. After you rallied your supporters that day, some of them stormed the Capitol to stop the constitutionally mandated counting of electoral votes. As President, you swore an oath to quote, "preserve, protect and defend", unquote, the Constitution. What do you say to voters who believe that you violated that oath through your actions and inaction on January 6 and worry that you'll do it again?\n\n\n\nTRUMP: Well, I don't think too many believe that. And let me tell you about January 6. On January 6, we had a great border, nobody coming through, very few. On January 6, we were energy independent. On January 6, we had the lowest taxes ever.\n\n\n\nWe had the lowest regulations ever. On January 6th, we were respected all over the world. All over the world, we were respected. And then he comes in and we're now laughed at. We're like a bunch of stupid people that -- what happened to the United States's reputation under this man's leadership is horrible, including weaponization, which I'm sure at some point you'll be talking about where he goes after his political opponent because he can't beat them fair and square.\n\n\n\nTAPPER: You have 80 seconds left. My question was, what do you say to those voters who believe that you violated your constitutional oath through your actions, inaction on January 6th, 2021, and worried that you'll do it again?\n\n\n\nTRUMP: Well, I didn't say that to anybody. I said peacefully and patriotically. And Nancy Pelosi, if you just watched the news from two days ago, on tape to her daughter, who's a documentary filmmaker, they say, what she's saying, oh, no, it's my responsibility, I was responsible for this. Because I offered them 10,000 soldiers or National Guard. And she turned them down. And the mayor of -- in writing, by the way, the mayor, in writing turned it down, the mayor of D.C., they turned it down. I offered 10,000 because I could see -- I had virtually nothing to do.\n\n\n\nThey asked me to go make a speech. I could see what was happening. Everybody was saying they're going to be there on January 6th. They're going to be there. And I said, you know what, that's a lot of people coming, you could feel it. You could feel it too. And you could feel it. And I said, they ought to have some National Guard or whatever. And I offered it to her. And she now admits that she turned it down. And it was the same day. She was -- I don't know, you can't be very happy with her daughter because it made her into a liar. She said, I take full responsibility for January 6th.\n\n\n\nTAPPER: President Biden?\n\n\n\nBIDEN: Look, he encouraged those folks to go up on Capitol Hill, number one. I sat in that dining room off the Oval Office -- he sat there for three hours, three hours watching, begging, being begged by his vice president and a number of his colleagues and Republicans as well to do something, to call for a stop, to end it. Instead, he talked -- they've talked about these people being patriots and -- and great patrons of America.\n\n\n\nIn fact, he says he'll not forgive them for what they've done. They've been convicted. He says he wants to commute their sentences and say that, no, he went to every single court in the nation, I don't know how many cases, scores of cases, including the Supreme Court. And they said they said -- they said, no, no, this guy, this guy is responsible for doing what is being -- was done. He didn't do a damn thing. And these people should be in jail. And they should be the ones who are being held accountable. And he wants to let them all out.\n\n\n\nAnd now he says if he loses again, such a whiner that he is, that there could be a bloodbath.\n\n\n\nTAPPER: Thank you, President Biden.\n\n\n\nPresident Trump?\n\n\n\nTRUMP: What they've done to some people that are so innocent, you ought to be ashamed of yourself, what you have done, how you've destroyed the lives of so many people. When they ripped down Portland, when they ripped down many other cities, you go to Minnesota, Minneapolis, what they've done there with the fires all over the city, if I didn't bring in the National Guard, that city would have been destroyed.\n\n\n\nWhen you look at all of the -- they took over big chunks of Seattle. I was all set to bring in the National Guard. They heard that. They saw them coming and they left immediately. What he said about this whole subject is so off. Peacefully patriotic.\n\n\n\nOne other thing, the “unselect committee,” which is basically two horrible Republicans that are all gone now, out of office, and Democrats, all Democrats, they destroyed and deleted all of the information they found because they found out we were right. We were right. And they deleted and destroyed all of the information. They should go to jail for that.\n\n\n\nIf a Republican did that, they'd go to jail.\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nPresident Biden, I want to give you a minute.\n\n\n\nBIDEN: The only person on this stage that is a convicted felon is the man I'm looking at right now. And the fact of the matter is he is -- what he's telling you is simply not true. The fact is that there was no effort on his part to stop what was going on up on Capitol Hill. And all those people, every one of those who were convicted deserves to be convicted. The idea that they didn't kill somebody, just went in and broke down doors, broke the windows, occupied offices, turned over desks, turned them over, statues, the idea that those people are patriots? Come on.\n\n\n\nWhen I asked him about first of two debates we had -- debates we had the first time around, I said, will you denounce the Proud Boys. He said, no, I'll tell them stand by. The idea he's refusing -- will you denounce these guys? Will you denounce the people we're talking about now? You denounce the people who attacked that Capitol? What are you going to do?\n\n\n\nTAPPER: I'm going to give you a -- a minute, President Trump, for a follow-up question I have. After a jury convicted you of 34 felonies last month, you said if re-elected, you would, quote, “have every right to go after,” unquote, your political opponents. You just talked about members of the Select Committee on January 6th going to jail.\n\n\n\nYour main political opponent is standing on stage with you tonight.\n\n\n\nCan you clarify exactly what it means about you feeling you have every right to go after your political opponents?\n\n\n\nTRUMP: Well, I said my retribution is going to be success. We're going to make this country successful again because right now it's a failing nation.\n\n\n\nMy retribution is going to be success. But when he talks about a convicted felon, his son is a convicted felon at a very high level. His son is convicted. Going to be convicted probably numerous other times.\n\n\n\nHe should have been convicted before, but his Justice Department let the statute of limitations lapse on the most important things. But he could be a convicted felon as soon as he gets out of office.\n\n\n\nJoe could be a convicted felon with all of the things that he's done. He's done horrible things.\n\n\n\nAll of the death caused at the border, telling the Ukrainian people that, we're going to want a billion dollars or you change the prosecutor. Otherwise, you're not getting a billion dollars.\n\n\n\nIf I ever said that, that's quid pro quo. That -- we're not going to do anything. We're not going to give you a billion dollars unless you change your prosecutor having to do with his son.\n\n\n\nThis man is a criminal. This man -- you're lucky. You're lucky. I did nothing wrong. We'd have a system that was rigged and disgusting. I did nothing wrong.\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nPresident Biden, you have said, I'm coming right to you, sir. You -- well, you want to respond? Go ahead. I'll give you a minute to respond.\n\n\n\nBIDEN: The idea that I did anything wrong relative to what you're talking about is outrageous. It's simply a lie, number one.\n\n\n\nNumber two, the idea that you have a right to seek retribution against any American, just because you're a president, is wrong, is simply wrong. No president's ever spoken like that before. No president in our history has spoken like that before.\n\n\n\nNumber three, the crimes that you are still charged with. And think of all the civil penalties you have. How many billions of dollars do you owe in civil penalties for molesting a woman in public, for doing a whole range of things, of having sex with a porn star on the night -- and while your wife was pregnant?\n\n\n\nI mean, what are you talking about? You have the morals of an alley cat.\n\n\n\nTAPPER: Give you a minute, sir.\n\n\n\nTRUMP: I didn't have sex with a porn star, number one.\n\n\n\nNumber two, that was a case that was started and moved. They moved a high-ranking official, a DOJ, into the Manhattan D.A.'s office to start that case. That case is going to be appealed in one.\n\n\n\nWe had a very terrible judge, horrible judge, Democrat. The prosecutor were all high-ranking Democrats appointed people and the -- both the civil and a criminal.\n\n\n\nHe basically went after his political opponent because he thought it was going to damage me. But when the public found out about these cases, because they understand it better than he does, he has no idea what these cases are, but when he -- they -- when they found out about these cases, you know what they did? My poll numbers went up way up. You know that because you're reporting it. And we took in more money in the last two weeks than we've ever taken in the history of any campaign.\n\n\n\nI don't think any campaign has ever taken hundreds of millions of dollars came pouring in because the public knows it's a scam and it's a guy that's after his political opponent because he can't win fair and square.\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nPresident Biden, you have said, quote, Donald Trump and his MAGA Republicans are determined to destroy American democracy.\n\n\n\nDo you believe that the tens of millions of Americans who are likely to vote for President Trump will be voting against American democracy?\n\n\n\nBIDEN: The more they know about what he's done, yes. The more they know about what he's done.\n\n\n\nAnd there's a lot more coming. He's got a lot of cases around the road coming around. He's got -- he's got a whole range of issues he has to face. I don't know what the juries will do, but I do know -- I do know he has a real problem.\n\n\n\nAnd so the fact that -- could you ever think you're hearing any president say that, I'm going to seek retribution? Do you ever hear any president say that, I thought it would write some good ideas?\n\n\n\nWhat got me involved to run in the first place after my son had died, I decided -- in Iraq -- because of Iraq. I said, I wasn't going to run again, until I saw what happened in Charlottesville, Virginia. People coming out of the woods carrying swastikas on torches and singing the same anti-Semitic bile they sang back in Germany.\n\n\n\nAnd what did -- and the young woman got killed, they spoke to the mother. And she -- they asked him, they said, what -- well, what do you think of those people? The people who wanted to get killed, the ones who tried to stop it, and the ones who said, I think they're fine people on both sides.\n\n\n\nWhat American president would ever say, Nazis coming out of fields, carrying torches, singing the same anti-Semitic bile, carrying swastikas, were fine people.\n\n\n\nThis is a guy who says Hitler's done some good things. I'd like to know what they are. The good things Hitler's done, that's what he said. This guy has no sense of American democracy.\n\n\n\nTAPPER: President Trump.\n\n\n\nTRUMP: Jake, both of you know that story has been totally wiped out because when you see the sentence, it said 100 percent exoneration on there. So he just keeps it going.\n\n\n\nHe says he ran because of Charlottesville. He didn't run because of Charlottesville. He ran because it was his last chance at -- he's not equipped to be president. You know it and I know it.\n\n\n\nIt's ridiculous. We have a debate. We're trying to justify his presidency.\n\n\n\nHis presidency, his -- without question, the worst president, the worst presidency in the history of our country. We shouldn't be having a debate about it. There's nothing to debate.\n\n\n\nHe made up the Charlottesville story and you'll see it's debunked all over the place. Every anchor has -- every reasonable actor has debunked it.\n\n\n\nAnd just the other day it came out where it was fully debunked. It's a nonsense story. He knows that.\n\n\n\nAnd he didn't run because of Charlottesville. He used that as an excuse to run.\n\n\n\nTAPPER: President Biden?\n\n\n\nBIDEN: And debunk. It happened. All you have to do is listen to what was said at the time.\n\n\n\nAnd the idea that somehow that's the only reason I ran. I ran because I was worried a guy like this guy can get elected.\n\n\n\nIf he thought they were good people coming out of that all -- that for us, carrying those -- those woods, carrying those torches, then he didn't deserve to be president, didn't deserve to be president at all.\n\n\n\nAnd the idea that he's talking about all of this being fabricated, we saw it with our own eyes. We saw what happened on January 6. We saw the people breaking to the windows. We saw people occupying there.\n\n\n\nHis own vice president -- look, there's a reason why 40 of his 44 top cabinet officers refused endorsing this time. His vice president hasn't endorsed him this time.\n\n\n\nSo, why? Why? They know him well. They serve with them. Why are they not endorsing him?\n\n\n\nTAPPER: Thank you, President Biden.\n\n\n\nWe're going to be right back with more from the CNN presidential debate.\n\n\n\n(COMMERCIAL BREAK)\n\n\n\nBASH: Welcome back to the CNN Presidential Debate live from Georgia.\n\n\n\nLet's talk about persistent challenges you both faced in your first terms, and you'd certainly face again in a second term. President Biden, while black unemployment dropped to a record low under your presidency, black families still earn far less than white families.\n\n\n\nBlack mothers are still three times more likely to die for pregnancy related causes. And black Americans are imprisoned at five times the rate of white Americans. What do you say to black voters who are disappointed that you haven't made more progress?\n\n\n\nBIDEN: They acknowledge he made a lot of progress, number one. The facts of the matter is more small black businesses that have been started in any time in history. Number two, the wages of black -- black unemployment is the lowest level of spend in a long, long time. Number three, we find them -- they're trying to provide housing for black Americans and dealing with segregation that exists among these corporate -- these corporate operations that collude to keep people out of their houses.\n\n\n\nAnd in addition to that, we find that the impact of, on the -- the choice that black families have to make relative to childcare is incredibly difficult. When we did the first major piece of legislation in the past, I was able to reduce black childcare costs. I cut them in half, in half. We've got to make sure we provide for childcare costs. We've got to make sure -- because when you provide that childcare protections, you increase economic growth because more people can be in the -- in the job market.\n\n\n\nSo there's more to be done, considerably more to be done, but we've done a great deal so far and I'm not letting up and they know it.\n\n\n\nBASH: You have 49 seconds left. What do you say to black voters who are disappointed with the progress so far?\n\n\n\nBIDEN: I say, I don't blame them for being disappointed. Inflation is still hurting them badly. For example, I provided for the idea that any black family, first time home buyer should get a $10,000 tax credit to be able to buy their first home so they can get started.\n\n\n\nI made sure that we're in a situation where all those black families and those black individuals who provided had to take out student loans that were ballooning, that if they were engaged in nursing and anything having to do with volunteerism, if they paid their bills for 10 years on their student debt, all the rest was forgiven after 10 years. Millions have benefited from that and we're going to do a whole lot more for black families.\n\n\n\nBASH: Thank you. President Trump?\n\n\n\nTRUMP: And he caused the inflation. He's blaming inflation. And he's right, it's been very bad. He caused the inflation and it's killing black families and Hispanic families and just about everybody. It's killing people. They can't buy groceries anymore. They can't.\n\n\n\nYou look at the cost of food where it's doubled and tripled and quadrupled. They can't live. They're not living anymore. He caused this inflation.\n\n\n\nI gave him a country with no, essentially no inflation. It was perfect. It was so good. All he had to do is leave it alone. He destroyed it with his green news scam and all of the other -- all this money that's being thrown out the window.\n\n\n\nHe caused inflation. As sure as you're sitting there, the fact is that his big kill on the black people is the millions of people that he's allowed to come in through the border. They're taking black jobs now and it could be 18. It could be 19 and even 20 million people. They're taking black jobs and they're taking Hispanic jobs and you haven't seen it yet, but you're going to see something that's going to be the worst in our history.\n\n\n\nBASH: Thank you. President Biden?\n\n\n\nBIDEN: There was no inflation when I became president. You know why? The economy was flat on its back. 15% unemployment, he decimated the economy, absolutely decimated the economy. That's why there was no inflation at the time.\n\n\n\nThere were no jobs. We provided thousands of millions of jobs for individuals who were involved communities, including minority communities. We made sure that they have health insurance. We have covered with the ACA has increased. I made sure that they're $8,000 per person in the family to get written off in health care, but this guy wants to eliminate that. They tried 50 times. He wants to get rid of the ACA again, and they're going to try again if they win.\n\n\n\nWe find ourselves in a position where the idea that we're not doing any -- I put more -- we put more police on the street than any administration has. He wants to cut the cops. We're providing for equity, equity, and making sure people have a shot to make it. There is a lot going on. But, on inflation, he caused it by his tremendous amount of seasons in the way he handled the pandemic.\n\n\n\nBASH: Thank you. Another persistent challenge is the climate crisis. 2023 was the hottest year in recorded history, and communities across the country are confronting the devastating effects of extreme heat, intensifying wildfires, stronger hurricanes, and rising sea levels.\n\n\n\nFormer President Trump, you've vowed to end your opponent's climate initiatives. But, will you take any action as President to slow the climate crisis?\n\n\n\nTRUMP: Well, let me just go back to what he said about the police, how close the police are to him. Almost every police group in the nation from every state is supporting Donald J. Trump, almost every police group. And what he has done to the black population is horrible, including the fact that for 10 years he called them super predators. We can't, in the 1990s (ph), we can't forget that. Super predators was his name. And he called it to them for 10, and they've taken great offense at it, and now they see it happening.\n\n\n\nBut, when they see what I did for criminal justice reform and for the historically black colleges and universities, where I funded them and got them all funded, and the opportunity zones with Tim. As you know, Tim Scott was -- incredibly did a great job, a great Senator from South Carolina. He came to me with the idea and it was a great idea. It's one of the most successful economic development acts ever in the country, opportunity zones. And the biggest beneficiary are blacks. And that's why we have the best numbers with them. And maybe ever, if they're saying ever, I read this morning, wherever, the best numbers, he has lost much of the black population because he has done a horrible job for black people. He has also done a horrible job for Hispanics.\n\n\n\nBut, why do you see these millions of people pouring into our country and they're going to take the jobs? And it's already started. And you haven't seen anything yet. It's a disaster.\n\n\n\nBASH: 38 seconds left, President Trump. Will you take any action as President to slow the climate crisis?\n\n\n\nTRUMP: So, I want absolutely immaculate clean water and I want absolutely clean air, and we had it. We had H2O. We had the best numbers ever. And we did -- we were using all forms of energy, all forms, everything. And yet, during my four years, I had the best environmental numbers ever. And my top environmental people gave me that statistic just before I walked on the stage, actually.\n\n\n\nBIDEN: I don't know where the hell he has been. The idea that, Dana, he said is true. I've passed the most extensive, it was the extensive climate change legislation in history, in history. We find ourselves -- and by the way, black colleges, I came up with $50 billion for HBCUs, historic black universities and colleges, because they don't have the kind of contributors that they have to build these laboratories and the like. Any black student is capable in college in doing any white student can do. They just have the money. But now, they'll be able to get those jobs in high tech.\n\n\n\nWe're in a situation where the idea that he kind of is claiming to have done something that had the cleanest water, the cleanest water? He had not done a damn thing with the environment. He -- out of the Paris Peace Accord -- Climate Accord, I immediately joined it, because if we reach for 1.5 degrees Celsius at any one point, well, there is no way back. The only existential threat to humanity is climate change. And he didn't do a damn thing about it. He wants to undo all that I've done.\n\n\n\nTRUMP: The Paris Accord was going to cost us a trillion dollars, and China nothing, and Russia nothing, and India nothing. It was a rip off of the United States. And I ended it because I didn't want to waste that money because they treat us horribly. We were the only ones who was costing us money. Nobody else was paying into it. And it was a disaster.\n\n\n\nBut, everything that he said just now, I'll give you an example. I heard him say before insulin, I'm the one that got the insulin down for the seniors. I took care of the seniors. What he is doing is destroying all of our medical programs because the migrants coming in. They want everybody. And look, I have the biggest heart on the stage. I guarantee you that. And I want to take care of people. But, we're destroying our country. They're taking over our schools, our hospitals, and they're going to be taking over Social Security. He is destroying Social Security, Medicare and Medicaid.\n\n\n\nBIDEN: Where does that come from? The idea is that we, in fact -- we were the only ones of consequence or not. We're not members of the Paris Accord. How can we do anything we're not able to, the United States can't get this under control? One of the largest polluters in the world. Number one, we're making significant progress. By 2035, we will have cut pollution in half. \n\n\n\nWe have -- we have made significant progress. And we're continuing to make progress.\n\n\n\nWe set up a Climate Corps for thousands of young people will learn how to deal with climate, just like the Peace Corps. And we're going to -- we're moving in directions that are going to significantly change the elements of the cause of pollution.\n\n\n\nBut the idea that he claims that he has the biggest heart up here and he's really concerned about -- about pollution and about climate, I've not seen any indication of that.\n\n\n\nAnd, by the way, with regard to prescription drugs, one company agreed that they would reduce the price to $35, which I was calling for -- one, voluntarily. I made sure every company in the world, every pharmaceutical company, cannot have to pay.\n\n\n\nBASH: Thank you.\n\n\n\nBIDEN: And, by the way...\n\n\n\nTAPPER: So every day millions of Americans struggle just to make ends meet. For many older Americans, Social Security provides a critical lifeline.\n\n\n\nPresident Biden, if nothing is done to Social Security, seniors will see their benefits cut in just over 10 years. Will you name tonight one specific step that you're willing to take to keep Social Security solvent?\n\n\n\nBIDEN: Yes, make the very wealthy begin to pay their fair share. Right now, everybody making under $170,000 pays 6 percent of their income, of their paycheck, every single time they get a paycheck, from the time of the first one they get when they're 18 years old.\n\n\n\nThe idea that they're going to -- I'm not -- I've been proposing that everybody, they pay -- millionaires pay 1 percent -- 1 percent. So no one after -- I would not raise the cost of Social Security for anybody under $400,000. After that, I begin to make the wealthy begin to pay their fair share, by increasing from 1 percent beyond, to be able to guarantee the program for life.\n\n\n\nTAPPER: So you still have 82 seconds left. Are there any other measures that you think that would be able to help keep Social Security solvent, or is just -- is that one enough?\n\n\n\nBIDEN: Well, that one enough will keep it solvent. But the biggest thing I'll do, if we defeat this man, because he wants to get rid of Social Security; he thinks that there's plenty to cut in Social Security. He's wanting to cut Social Security and Medicare, both times. And that's with -- and if you look at the program put forward by the House Republican Caucus that he, I believe, supports, is in fact wanting to cut it as well.\n\n\n\nThe idea that we don't need to protect our seniors is ridiculous. We put -- and, by the way, the American public has greater health care coverage today than ever before. And under the ACA, as I said, you're in a circumstance where 400,000 people -- I mean, 40 million people -- would not have insurance because they have a pre-existing condition. The only thing that allows them to have that insurance is the fact that they in fact are part of the ACA.\n\n\n\nAnd, by the way, the other thing is we're in a situation where I talk about education for black communities. I've raised the number, the amount of money for Pell grants by other $8,000 for anybody making under $70,000 a year, are going to be able to get $15,000 towards their tuition.\n\n\n\nIt's just -- he -- he just doesn't know what he's talking about.\n\n\n\nTAPPER: Thank you, President Biden.\n\n\n\nPresident Trump?\n\n\n\nTRUMP: So I've dealt with politicians all my life. I've been on this side of the equation for the last eight years. I've never seen anybody lie like this guy. He lies -- I've never seen it. He could look you in the face. So -- and about so many other things, too.\n\n\n\nAnd we mentioned the laptop, We mentioned "Russia, Russia, Russia," "Ukraine, Ukraine, Ukraine." And everything he does is a lie. It's misinformation and disinformation. The "losers and suckers" story that he made up is a total lie on the military. It's a disgrace.\n\n\n\nBut Social Security, he's destroying it. Because millions of people are pouring into our country, and they're putting them on to Social Security; they're putting them on to Medicare, Medicaid. They're putting them in our hospitals. They're taking the place of our citizens.\n\n\n\nThey're -- what they're doing to the V.A., to our veterans, is unbelievable. Our veterans are living in the street and these people are living in luxury hotels. He doesn't know what he's doing. And it -- it's really coming back. I've never seen such anger in our country before.\n\n\n\nTAPPER: President Biden?\n\n\n\nBIDEN: The idea that veterans are not being taken care of, I told you before -- and, by the way, when I said "suckers and losers," he said -- he acknowledged after it that he fired that general. That general got fired because he's the one that acknowledged that that's what he said. He was the one standing with Trump when he said it, number one.\n\n\n\nNumber two, the idea that we're going to be in a situation where all these millions and millions, the way he talks about it, illegal aliens are coming into the country and taking away our jobs, there's a reason why we have the fastest-growing economy in the world, a reason why we have the most successful economy in the world. We're doing better than any other nation in the world.\n\n\n\nAnd, by the way, those 15 Nobel laureates, economists, they all said that if Trump is re-elected, we're likely to have a recession, and inflation is going to increasingly go up.\n\n\n\nAnd by the way, worst president in history. 159 presidential scholars voted him the worst president in the history of the United States of America.\n\n\n\nTAPPER: President Biden, thank you so much. Let's turn to the cost of childcare, which many American families struggle to afford.\n\n\n\nPresident Trump, both you and President Biden have tried to address this issue, but the average cost of childcare in this country has risen to more than $11,000 a year per child. For many families, the cost of childcare for two children is more than their rent. In your second term, what would you do to make childcare more affordable?\n\n\n\nTRUMP: Just to go back. The general got fired because he was no good. And if he said that, that's why he made it up. But we have 19 people that said I didn't say it, and they're very highly respected, much more so than him.\n\n\n\nThe other thing is, he doesn't fire people. He never fired people. I've never seen him fire anybody. I did fire a lot. I fired Comey because he was no good. I fired a lot of the top people at the FBI, drained the swamp. They were no good. Not easy to fire people. You'd pay a price for it, but they were no good. I inherited these people. I didn't put him there. I didn't put Comey there. He was no good. I fired him.\n\n\n\nThis guy hasn't fired anybody. He never fires. He should have fired every military man that was involved with that Afghan -- the Afghanistan horror show. The most embarrassing moment in the history of our country. He didn't fire?\n\n\n\nDid you fire anybody? Did you fire anybody that's on the border, that's allowed us to have the worst border in the history of the world? Did anybody get fired for allowing 18 million people, many from prisons, many from mental institutions? Did you fire anybody that allowed our country to be destroyed? Joe, our country is being destroyed as you and I sit up here and waste a lot of time on this debate. This shouldn't be a debate.\n\n\n\nHe is the worst president. He just said it about me because I said it. But look, he's the worst president in the history of our country. He's destroyed our country. Now, all of a sudden, he's trying to get a little tough on the border. He come out -- came out with a nothing deal, and it reduced it a little bit. A little bit, like this much. It's insignificant.\n\n\n\nHe wants open borders. He wants our country to either be destroyed or he wants to pick up those people as voters. And I don't think -- we just can't let it happen. If he wins this election, our country doesn't have a chance. Not even a chance of coming out of this rut. We probably won't have a country left anymore. That's how bad it is. He is the worst in history by far.\n\n\n\nTAPPER: Thank you, President Trump. President Biden?\n\n\n\nBIDEN: We are the most admired country in the world. We're the United States of America. There's nothing beyond our capacity. We have the finest military in the history of the world. The finest in the history of the world. No one thinks we're weak. No one wants to screw around with us. Nobody. Number one.\n\n\n\nNumber two, the idea that we're talking about worst presidents. I wasn't joking. Look it up. Go online. 159 or 58, don't hold me the exact number, presidential historians. They've had meetings and they voted who's the worst president in American history. One through best to worst. They said he was the worst in all of American history. That's a fact. That's not conjecture. He can argue the wrong, but that's what they voted.\n\n\n\nThe idea that he is knowing (ph) -- doing anything to deal with child care. He did very -- virtually nothing to child care. We should significantly increase the child care tax credit. We should significantly increase the availability of women and men for child or single parents to be able to go back to work, and we should encourage businesses to hold -- to have child care facilities.\n\n\n\nTAPPER: Thank you, President Biden. President Trump, the question was about what would you do to make child care more affordable? If you want to take your minute.\n\n\n\nTRUMP: Just you understand, we have polling. We have other things that do -- they rate him the worst because what he's done is so bad. And they rate me -- yes, I'll show you. I will show you. And they rate me one of the best. OK.\n\n\n\nAnd if I'm given another four years, I will be the best. I think I'll be the best. Nobody's ever created an economy like us. Nobody ever cut taxes like us. He's the only one I know. He wants to raise your taxes by four times. He wants to raise everybody's taxes by four times. He wants the Trump tax cuts to expire so everybody, including the two of you are going to pay four to five times. Nobody ever heard of this before.\n\n\n\nAll my life I'd grow up and I'd see politicians talking about cutting taxes. When we cut taxes, as I said, we did more business. Apple and all these companies, they were bringing money back into our country. The worst president in history by far, and everybody knows it.\n\n\n\nTAPPER: President Biden?\n\n\n\nBIDEN: Look, the fact of the matter is that he's dead wrong about it. He's increased the tariff -- he's increased -- he will increase the taxes on middle class people. I said I'd never raise a tax on anybody making less than $400,000. I didn't.\n\n\n\nBut this tariff -- these 10 percent tariffs, everything coming into the country, you know what the economists say? That's going to cost the average American $2,500 a year and more, because they're going to have to pay the difference in food and all the things that are very important.\n\n\n\nNumber two, he's in a situation where he talks about how he has not raised -- he somehow helped the middle class. The middle class has been devastated by you. Now you want a new tax cut of $5 trillion over the next ten years, which is going to fundamentally bankrupt the country. You had the largest deficit of any president in American history, number one.\n\n\n\nNumber two, you have not, in fact, made any contact, any progress with China. We are the lowest trade deficit with China since 2010.\n\n\n\nTAPPER: Thank you, President Biden. Thank you, President Biden.\n\n\n\nLet's discuss an epidemic impacting millions of Americans that both of you have made a top priority in your first term, the opioid crisis. And for both of you, the number of overdose deaths in this country has gone up. Under your term, it went up. Under your term, it has gone up.\n\n\n\nFormer President Trump, despite the efforts that both of you have made, more than 100,000 Americans are dying from overdoses every year, primarily from fentanyl and other opioids. What will you do to help Americans right now in the throes of addiction, who are struggling to get the treatment they need?\n\n\n\nTRUMP: To finish up, we now have the largest deficit in the history of our country under this guy, we have the largest deficit with China. He gets paid by China. He's a Manchurian Candidate. He gets money from China. So I think he's afraid to deal with him or something.\n\n\n\nBut do you notice? He never took out my tariffs because we bring in so much money with the tariffs that I imposed on China. He never took them away. He can't because it's too much money. It's tremendous. And we saved our steel industries. And there was more to come, but he hasn't done that.\n\n\n\nBut he hasn't cut the tariffs because he can't, because it's too much money. But he's got the largest deficit in the history of our country and he's got the worst situation with China. China is going to own us if you keep allowing them to do what they're doing to us as a country. They are killing us as a country, Joe, and you can't let that happen. You're destroying our country.\n\n\n\nTAPPER: So, President Trump, you have 67 seconds left. The question was, what are you going to do to help Americans in the throes of addiction right now who are struggling to get the treatment they need?\n\n\n\nTRUMP: Jake, we're doing very well at addiction until the COVID came along. We had the two-and-a-half, almost three years of like nobody's ever had before, any country in every way. And then we had to get tough. And it was -- the drugs pouring across the border, we're -- it started to increase.\n\n\n\nWe got great equipment. We bought the certain dog. That's the most incredible thing that you've ever seen, the way they can spot it. We did a lot. And we had -- we were getting very low numbers. Very, very low numbers.\n\n\n\nThen he came along. The numbers -- have you seen the numbers now? It's not only the 18 million people that I believe is even low, because the gotaways, they don't even talk about gotaways. But the numbers of -- the amount of drugs and human trafficking in women coming across our border, the worst thing I've ever seen at numbers -- nobody's ever seen under him because the border is so bad. But the number of drugs coming across our border now is the largest we've ever had by far.\n\n\n\nTAPPER: President Trump, thank you. President Biden?\n\n\n\nBIDEN: Fentanyl and the byproducts of fentanyl went down for a while. And I wanted to make sure we use the machinery that can detect fentanyl, these big machines that roll over everything that comes across the border, and it costs a lot of money. That was part of this deal we put together, this bipartisan deal.\n\n\n\nMore fentanyl machines, were able to detect drugs, more numbers of agents, more numbers of all the people at the border. And when we had that deal done, he went -- he called his Republican colleagues said don't do it. It's going to hurt me politically.\n\n\n\nHe never argued. It's not a good bill. It's a really good bill. We need those machines. We need those machines. And we're coming down very hard in every country in Asia in terms of precursors for fentanyl. And Mexico is working with us to make sure they don't have the technology to be able to put it together. That's what we have to do. We need those machines.\n\n\n\nTAPPER: Thank you, President Biden. President Trump, and again, the question is about Americans in the throes of addiction right now struggling to get the treatment they need.\n\n\n\nTRUMP: Because this does pertain to it. He ended remain in Mexico, he ended catch and release. I made the catch and release in Mexico, not catch and release here. We had so many things that we had done, hard negotiations with Mexico, and I got it all for nothing.\n\n\n\nIt's just like when you have a hostage, we always pay $6 billion for a -- every time we sees hostage. Now we have a hostage. A Wall Street Journal reporter, I think a good guy, and he's over there because Putin is laughing at this guy, probably asking for billions of dollars for the reporter.\n\n\n\nI will have him out very quickly, as soon as I take office, before I take office. I said by literally as soon as I win the election, I will have that reporter out. He should have had him out a long time ago. But Putin is probably asking for billions and billions of dollars because this guy pays it every time.\n\n\n\nWe had two cases where we paid $6 billion for five people. I got 58 people out and I paid essentially nothing.\n\n\n\nTAPPER: Thank you, President Trump.\n\n\n\nDana.\n\n\n\nBASH: Let's turn to concerns that voters have about each of you.\n\n\n\nPresident Biden, you would be 86 at the end of your second term. How do you address concerns about your capability to handle the toughest job in the world well into your 80s?\n\n\n\nBIDEN: Well, first of all, I spent half my career being -- being criticized being the youngest person in politics. I was the second-youngest person ever elected to the United States Senate. And now I'm the oldest. This guy's three years younger and a lot less competent. I think that just look at the record. Look what I've done. Look how I've turned around the horrible situation he left me.\n\n\n\nAs I said, 50 million new jobs, 800,000 manufacturing jobs, more investment in America, over millions -- billions of dollars in private investment and -- and enterprises that we are growing. We've -- by the way, we brought an awful a lot of people -- the whole idea of computer chips. We used to have 40 percent of the market. We invented those chips. And we lost it because he was sending people to cheap -- to find the cheapest jobs overseas and to bring home a product.\n\n\n\nSo I went -- I went to South Korea. I convinced Samsung to invest billions of dollars here in the United States. And then guess what? Those fabs, they call them, to -- to build these chips, those fabs pay over $100,000. You don't need a college degree for them. And there's billions, about $40 billion already being invested and being built right now in the United States, creating significant jobs for Americans all over -- from all over the world.\n\n\n\nBASH: President Biden, you have 40 seconds left. Would you like to add anything?\n\n\n\nBIDEN: Yeah, I would. The idea that somehow we are this failing country, I never heard a president talk like this before. We -- we're the envy of the world. Name me a single major country president who wouldn't trade places with the United States of America. For all our problems and all our opportunities, we're the most progressive country in the world and getting things done. We're the strongest country in the world. We're country in the world who keeps our word and everybody trusts us, all of our allies.\n\n\n\nAnd our -- those who he cuddles up to, from Kim Jong-un who he sends love letters to, or Putin, et cetera, they don't want to screw around with us.\n\n\n\nBASH: Thank you.\n\n\n\nFormer President Trump, to follow up, you would be 82 at the end of your second term. What do you say to voters who have concerns about your capabilities to serve?\n\n\n\nTRUMP: Well, I took two tests, cognitive tests. I aced them, both of them, as you know. We made it public. He took none. I'd like to see him take one, just one, a real easy one. Like go through the first five questions, he couldn't do it. But I took two cognitive tests. I took physical exams every year. And, you know, we knock on wood, wherever we may have wood, that I'm in very good health. I just won two club championships, not even senior, to regular club championships. To do that, you have to be quite smart and you have to be able to hit the ball along way. And I do it. He doesn't do it. He can't hit a ball 50 yards. He challenged me to a golf match. He can hit a ball 50 years.\n\n\n\nI think I'm a very good shape. I feel that I'm in as good a shape as I was 25, 30 years ago. Actually, I'm probably a little bit lighter. But I'm in as good a shape as I was years ago. I feel very good. I feel the same.\n\n\n\nBut I took -- I was willing to take a cognitive test. And you know what, if I didn't do well -- I aced them. Dr. Ronny Jackson, who's great guy, when he was White House doctor. And then I took another one, a similar one, and both -- one of them said they'd never seen anybody ace them.\n\n\n\nBASH: Thank you.\n\n\n\nPresident Biden?\n\n\n\nBIDEN: You're going to see he's six-foot-five and only 225 pounds -- or 235 pounds.\n\n\n\nTRUMP: (inaudible).\n\n\n\nBIDEN: Well, you said six-four, 200.\n\n\n\nTRUMP: (inaudible).\n\n\n\nBIDEN: Well, anyway, that's -- anyway, just take a look at what he says he is and take a look at what he is.\n\n\n\nLook, I'd be happy to have a driving contest with him. I got my handicap, which, when I was vice president, down to a 6.\n\n\n\nAnd by the way, I told you before I'm happy to play golf if you carry your own bag. Think you can do it?\n\n\n\nTRUMP: That's the biggest lie that he's a 6 handicap, of all.\n\n\n\nBIDEN: I was 8 handicap.\n\n\n\nTRUMP: Yeah.\n\n\n\nBIDEN: Eight, but I have -- you know how many...\n\n\n\nTRUMP: I've seen your swing, I know your swing.\n\n\n\n(CROSSTALK)\n\n\n\nBASH: President Trump, we're going to...\n\n\n\n(CROSSTALK)\n\n\n\nTRUMP: Let's not act like children.\n\n\n\nBIDEN: You are a child.\n\n\n\nBASH: To you, a specific concern that voters have about you. Will you pledge tonight that once all legal challenges have been exhausted that you will accept the results of this election regardless of who wins and you will say right now that political violence in any form is unacceptable?\n\n\n\nTRUMP: Well, I shouldn't have to say that, but, of course, I believe that. It's totally unacceptable.\n\n\n\nAnd if you would see my statements that I made on Twitter at the time, and also my statement that I made in the Rose Garden, you would say it’s one of the strongest statements you’ve ever seen.\n\n\n\nIn addition to the speech I made, in front of, I believe, the largest crowd I’ve ever spoken to, and I will tell you, nobody ever talks about that. They talk about a relatively small number of people that went to the Capitol. And in many cases were ushered in by the police.\n\n\n\nAnd as Nancy Pelosi said, it was her responsibility, not mine. She said that loud and clear.\n\n\n\nBut the answer is, if the election is fair free, and I want that more than anybody.\n\n\n\nAnd I’ll tell you something -- I wish he was a great president because I wouldn’t be here right now. I’d be at one of my many places enjoying myself. I wouldn’t be under indictment because I wouldn’t have been his political appoint -- you know, opponent. Because he indicted me because I was his opponent.\n\n\n\nI wish he was a great president. I would rather have that.\n\n\n\nI wouldn’t be here. I don’t mind being here, but the only reason I’m here is he’s so bad as a president that I’m going to make America great again. We’re going to make America great again.\n\n\n\nWe’re a failing nation right now. We’re a seriously failing nation. And we’re a failing nation because of him.\n\n\n\nHis policies are so bad. His military policies are insane. They’re insane.\n\n\n\nThese are wars that will never end with him. He will drive us into World War Three and we’re closer to World War Three than anybody can imagine. We are very, very close to World War Three, and he’s driving us there.\n\n\n\nAnd Kim Jong Un, and President Xi of China -- Kim Jong Un of North Korea, all of these -- Putin -- they don’t respect them. They don’t fear him. They have nothing going with this gentleman and he’s going to drive us into World War Three.\n\n\n\nBIDEN: If you want a World War Three, let him follow (ph) and win, and let Putin say, do what you want to NATO -- just do what you want.\n\n\n\nThere’s a thing called Article Five, an attack on one is attack on all, a required response.\n\n\n\nThe idea -- the idea -- I can’t think of a single major leader in the world who wouldn’t trade place with what job I’ve done and what they’ve done because we are a powerful nation, we have wonderful piece (ph), because of the people, not me, because of the American people. They’re capable of anything and they step up when they’re needed.\n\n\n\nAnd right now, we’re needed. We’re needed to protect the world because our own safety is at stake.\n\n\n\nAnd again, you want to have war, just let Putin go ahead and take Kyiv, make sure they move on, see what happens in Poland, Hungary, and other places along that border. Then you have a war.\n\n\n\nBASH: President Trump, as I come back to you for a follow-up. The question was, will you accept the results of this election regardless of who wins?\n\n\n\nTRUMP: Just to finish what he said, if I might, Russia -- they took a lot of land from Bush. They took a lot of land from Obama and Biden. They took no land, nothing from Trump, nothing.\n\n\n\nHe knew not to do it. He’s not going to play games with me. He knew that. I got along with him very well, but he knew not to play games.\n\n\n\nHe took nothing from me, but now, he’s going to take the whole thing from this man right here.\n\n\n\nThat’s a war that should have never started. It would’ve never started ever with me. And he’s going to take Ukraine and, you know, you asked me a question before, would you do this with -- he’s got us in such a bad position right now with Ukraine and Russia because Ukraine’s not winning that war.\n\n\n\nHe said, I will never settle until such time -- they’re running out of people, they’re running out of soldiers, they’ve lost so many people. It’s so sad.\n\n\n\nThey’ve lost so many people and they’ve lost those gorgeous cities with the golden domes that are 1,000-years-old, all because of him and stupid decisions.\n\n\n\nRussia would’ve never attacked if I were president.\n\n\n\nBASH: President Trump, the question was, will you accept the results of the election regardless of who wins? Yes or no, please?\n\n\n\nTRUMP: If it’s a fair and legal and good election -- absolutely. I would have much rather accepted these but the fraud and everything else was ridiculous that if you want, we’ll have a news conference on it in a week or we’ll have another one of these on -- in a week.\n\n\n\nBut I will absolutely -- there’s nothing I’d rather do. It would be much easier for me to do that than I’m running again. I wasn’t really going to run until I saw the horrible job he did. He’s destroying our country.\n\n\n\nI would be very happy to be someplace else, in a nice location someplace. And again, no indictments, no political opponent’s stuff, because it’s the only way he thinks he can win.\n\n\n\nBut unfortunately, it’s driven up by numbers and driven it up to a very high level, because the people understand it.\n\n\n\nBIDEN: Let’s see what your numbers are when this election is over.\n\n\n\nTRUMP: We’ll see.\n\n\n\nBIDEN: Let’s see. You’re a whiner. When you lost the first time, you continued to appeal and appeal to courts all across the country.\n\n\n\nNot one single court in America said any of your claims had any merit, state or local, none.\n\n\n\nBut you continue to provoke this lie about somehow there’s all this misrepresentation, all the stealing. There’s no evidence of that at all.\n\n\n\nAnd I tell you what? I doubt whether you’ll accept it because you’re such a whiner. The idea if you lose again, you’re accepting anything, you can’t stand the loss. Something snapped in you when you lost the last time.\n\n\n\nBASH: We’ll be right back with more from the CNN presidential debate live from Georgia.\n\n\n\n(COMMERCIAL BREAK)\n\n\n\nTAPPER: It is now time for the candidates to deliver their closing statements.\n\n\n\nAs predetermined by a coin toss, we’re going to begin with you, President Biden. You have two minutes.\n\n\n\nBIDEN: We’ve made significant progress from the debacle that was left by President Trump in his -- in his last term.\n\n\n\nWe find ourselves in a situation where, number one, we have to make sure that we have a fair tax system. I ask anyone out there in the audience, or anyone out watching this debate, do you think the tax system is fair?\n\n\n\nThe fact is that I said, nobody even making under $400,000 had a single penny increasing their taxes and it will not. And if I’m reelected, that’ll be the case again.\n\n\n\nBut this guy is -- has increased your taxes because of the deficit. Number one, he’s increased inflation because of the debacle he left after -- when he handled the pandemic. And he finds himself in a position where he now wants to tax you more by putting a 10 percent tariff on everything comes into the United States America.\n\n\n\nWhat I did, when, for example, he wants to get away with -- and get rid of the ability of Medicare to -- for the ability to -- for the -- us to be able to negotiate drug prices with big pharma companies.\n\n\n\nWell, guess what? We got it -- we got it down to 15 -- excuse me, $35 for insulin instead of $400. No more than $2,000 for every senior no matter what they -- how much prescription they need.\n\n\n\nYou know what that did? That reduced the federal deficit (ph) -- debt by $160 billion over 10 years because the government doesn’t have to pay the exorbitant prices.\n\n\n\nI’m going to make that available to every senior, all -- or go longer. It’s happening now, and everybody in America. He wants to get rid of that.\n\n\n\nWe have -- I’m going to make sure we have childcare. We’re going to significantly increase the credit people have for childcare. I’m going to make sure we do something about what we’re doing on lead pipes and all the things that are causing health problems for people across the country.\n\n\n\nWe’re going to continue to fight to bring down inflation and give people a break.\n\n\n\nTAPPER: Thank you, President Biden.\n\n\n\nPresident Trump, you now have two minutes for your closing statement.\n\n\n\nTRUMP: Like so many politicians, this man is just a complainer. He said we want to do this. We want to do that. We want to get rid of this tax, that tax, but he doesn’t do anything. He doesn’t do.\n\n\n\nAll he does is make our country unsafe by allowing millions and millions of people to pour in. Our military doesn’t respect him. We look like fools in Afghanistan.\n\n\n\nWe didn’t stop -- Israel, it was such a horrible thing that would have never happened. It should have never happened.\n\n\n\nIran was broke. Anybody that did business with Iran, including China, they couldn’t do business with the United States. They all passed.\n\n\n\nIran was broke. They had no money for Hamas or Hezbollah, for terror, no money whatsoever.\n\n\n\nAgain, Ukraine should have never happened.\n\n\n\nHe talks about all this stuff, but he didn’t do it. For three-and-a-half years, we’re living in hell. We have the Palestinians and we have everybody else rioting all over the place.\n\n\n\nYou talk about Charlottesville. This is 100 times Charlottesville, 1,000 times.\n\n\n\nThe whole country is exploding because of you, because they don’t respect you. And they have to respect their president and they don’t respect you throughout the world.\n\n\n\nWhat we did was incredible. We re -- rebuilt the military. We got the largest tax cut in history, the largest regulation cut in history.\n\n\n\nThe reason he’s got jobs is because I cut the regulations that gave jobs, but he’s putting a lot of those regulations back on.\n\n\n\nAll of the things that we’ve done, nobody’s ever -- never seen anything like -- even from a medical standpoint. Right to Try, where we can try Space Age materials instead of going to Asia or going to Europe and trying to get when you’re terminally ill.\n\n\n\nNow, you can go and you can get something. You signed a document. They’ve been trying to get it for 42 years.\n\n\n\nBut you know what we did for the military was incredible. Choice for our soldiers, where our soldiers, instead of waiting for three months to see a doctor, can go out and get themselves fixed up and readied up, and take care of themselves and they’re living. And that’s why I had the highest approval rating of the history of the V.A.\n\n\n\nSo, all of these things -- we’re in a failing nation, but it’s not going to be failing anymore. We’re going to make it great again.\n\n\n\nBASH: Thank you, former President Trump, President Biden.\n\n\n\nStay with us because we have full analysis of this debate. Anderson Cooper and Erin Burnett starts now on CNN.\n\n\n\nEND\n-----END-----CNN.SCRIPT-----\n\n--KEYWORD TAGS--\nTRUMP BIDEN DEBATE CNN PRESIDENTIAL \n

CNN Collection Details

CONTEMPORARY STOCK FOOTAGE

CLOUDS, SKIES, BUSINESS SHOTS, VACATION LOCALES, AMERICAN TOWNS, THE GREAT OUTDOORS, FAMOUS PEOPLE OF 1900'S, CITY LIFE; DX EXT CU lamppost w/clouds, sun shining through dark cumulus stratus clouds (great shot), full moon in the daytime; DX EXT FS fair weather cumulus clouds, TL cumulus nimbus clouds, MS BLDG w/cirrus clouds in BG, TL day moon in clouds; DX EXT FS TL storm clouds gathering, cirrus / cumulus mix, WS cumulo nimbus clouds w/palm trees, cumulo nimbus stormy clouds; DX EXT WS TL mountain & clouds, altocumuls sunset, distant clouds, sunset - altostratus, dusk - dark stratocumulus, nimbus; DX EXTFS windy cirrus clouds, yellow clouds, business suits walking in L.A., WS commercial jet take off; DX EXT MS man on cell phone, FS man in suit walking out of building, Sacramento State Capitol BLDG ; DX EXT CU red light Z-OUT to PEDS crossing street downtown L.A., metro subway takes off, Z-IN transmission tower; DX EXT WS power plant, FS traffic jam, lear jet landing, molten metal, EST DX New York NYC SKYLINE, WS train station, AERIAL LA DOWNTOWN; DX EXT LSHOT top of high rise, MS business people crossing street, CU women handshake, INT FS business women at desk; DX EXT LSHOT construction foreman, woman walking in ocean-Tahiti, snorkel man, outrigger-Hawaii, tropical poolside; DX EXT dad & son on surfboard, fisherman, scuba divers, couple hugging in ocean Tahiti, Hawaiian tidal pool, sailboat; DX EST WS tropical huts elevated, diver w/fish & camera,sunset in paradise, couple riding horseback on beach, boat on lake; DX EXT recreational vehicle, RV goes over bridge, raft in river, rowboat in rapids, sailboat on lake, children on swing set, Middle East City tower; DX EXT FS PEDS on China street, church in Tahiti, AERIAL tropical beach & huts, INT FS European church, log cabin, cathedral; DX EXT WS Alaskan dock & sky, European city dusk, Spanish clock tower, China dancers, India sunset, tour boat, Netherlands bridge; DX EXT Z-OUT EST Vietnam city, double decker bus, EST Cairo river, Jerusalem street, FS tropical island, China sword woman; DX EXT FS white farm house, gothic high school, PEDS sidewalk, parade, flags on street, hamburger stand, museum, covered bridge; DX EXT FS horse & carriage, Main street, quiet sidewalk, corner store, girl in window, train depot, city hall, EXT bowling alley; DX EXT FS store window, WS windmill, old house, bridge, Amish buggy, town hall, park, PED crossing, store front, abandoned house; DX EXT FS bailing hay, houses, fishing, old BLDGS, diner, church, fast food place, lake w/trees, outdoor symphony, fireworks; DX EXT WS country highway, ferryboat, red church, horse country, tractor, shed & windmill, abandoned shed, rock wall; DX EXT brick ruins, Joshua Tree sunset, crow on rock, waving wheat, snow patch, fast stream, tall pines along river; valley stream, colored desert sky, Z-OUT to EST desert, caribou w/sprinklers in BG, water trestle bridge, country church, CU horse in stall looking at camera; cactus canyon angle, tree on hilltop, Joseph Stalin, Eisenhower, McCarthy, American flag, Rosenberg, Olympics - Jesse Owens; Edison, Albert Einstein, Wright Bros, Nazi march, Hitler, JFK, Coolidge, Clarence Darrow, Charles Lindbergh, Hoover, Teddy Roosevelt; DX EXT Japanese Summit, Churchill, Fidel Castro, JFK & Cuban missile crises, Woodrow Wilson, planter in window, clean street, roller blader; NX WS gas station, theater entrance, diner front, CU nx night street/L.A., restaurant, NX 1950's style drive-in diner, Mel's Drive In! sidewalk cafe; NX police car - action, night aerobics, BLDG lobby, yellow room, front step X walk, fountains, NX BLDGs, taxi, bus passing by; NX WS city bus passes by, NX LA SKYLINE, pigeons, city street (casual), urban river, NYC SKYLINE, federal BLDG; DX Capitol w/flowers, cityscape w/NYC APTS, World Trade Center, NJ turnpike, NYC SKYLINE, LA laundromat, street X-ing (casual LA); DX jet (not moving), CA beach, AERIAL Dodger Stadium, breakwall fisherman catching a fish (San Diego); NX POV FS Hollywood Blvd, LS crowd, EST roller coaster, AERIAL track homes tract houses (subdivison) Aerial horrible new cookie cutter houses in the middle of the desert, disgusting, sharp contrast between lush green lawns & surrounding desert, humans meddling with nature ;

Historic Films Details

20 hours: [broadcast of February 15, 2007]

INA Details

Japan: Bank: Central bank decides to guide down interest rates

TAPE_NUMBER: EF01/0287 IN_TIME: 23:50:23 LENGTH: 02:49 SOURCES: All APTN except shots 7 = TV TOKYO RESTRICTIONS: FEED: SCRIPT: Eng/Jap/Nat XFA Amid growing cries of alarm about Japan's economic woes from both at home and abroad, the central bank decided on Monday to guide down interest rates to near zero and nip the dangers of deflation. While it stopped short of directly cutting interest rates, the Bank of Japan decided at a policy board meeting to take other measures called "quantitative easing", such as increasing the money supply and buying up government bonds, that will end up having the same effect. The Bank of Japan said that it will no longer target a specific level of interest rates but also said that the latest policy decision would have the effect of pushing interest rates back to zero - a policy it had abandoned last August. Hopes for an easier monetary policy had been growing in political and business circles, as worries about the future of the Japanese economy have sent stock markets in Tokyo and New York plunging. B-O-J Governor Masaru Hayami has long tried to resist such pressure, saying that counting on monetary policy to achieve economic growth would not work without taking care of the massive bad-debt problem weighing on the nation's banks. Hayami has also pushed for wider reforms - such as helping to ease government regulations and encouraging new types of businesses - as a better way to resolve Japan's problems. But the recent spate of bad news about Japan's economy and the damaging effects they have had on Wall Street last week have prodded the central bank to reverse course. Over the past week, political leaders and some banks have shown more resolve to deal with the bad-debt problem, which many view as being at the crux of Japan's decade-long economic slowdown. Another danger facing Japan is deflation, a situation in which prices continue to fall, threatening to start a downward spiral that pulls down income and profits. When the Bank of Japan decided last summer to end the near-zero interest rate policy that it began in 1999, it had said there were no dangers of deflation. But last Friday, the government announced the Japanese economy had entered a state of deflation for the first time since the end of World War II. The decision from the Bank of Japan comes at a time when Prime Minister Yoshiro Mori is in Washington to meet with U-S President George Bush. What would come of those talks is questionable, given that Mori is expected to step down as early as next month. Mori, one of Japan's least popular prime ministers, has been plagued by gaffes and scandals, and public dissatisfaction has been growing over his apparent inability to boost the economy. Some analysts remained skeptical whether anything the Bank of Japan could do would bring about quick recovery unless commercial banks start Japan on a clean slate by wiping out their bad loans. On the Tokyo Stock Exchange, the benchmark 225-issue Nikkei Stock Average, which had surged earlier in the day on hopes for lower interest rates, closed down 0.34 percent. SOUNDBITE: (Japanese) "Once the interest rate is zero, we cannot cut the rate any further. Whereas with this measurement, we can increase money supply when it is needed and we leave the adjustment of the interest rate to the market. We adjust the money supply while monitoring the amount of reserve. Now, we are moving from a qualitative to quantitative measurement. One could call it a sort of quantitative easing measurement." SUPER CAPTION: Masaru Hayami, Governor of the Bank of Japan SOUNDBITE: (Japanese) "It is necessary to dissolve bad debts issue and to conduct a reform of the financial system and the manufacturing industry so as to make this financial easing policy activate at its utmost and to return to the sustainable economic recovery track." SUPER CAPTION: Masaru Hayami, Governor of the Bank of Japan SOUNDBITE: (English) "It's very important that the bank appears now to operate zero interest rates in a manner different to what it did last time. If it simply went back to the zero policy it probably would have been looked upon very poorly by the markets. But the fact that it does intend to increase liquidity through a quantitative easing and that it does have a qualitative inflation target, that is to say it intends to hold its zero policy until it can turn the deflationary trend around, that is quite important." SUPER CAPTION: Matthew Poggi, Economist, Lehman Brothers Japan SHOTLIST: Tokyo, Japan - 19 March 2001 and File APTN - 19 March 1. Wide shot of Masaru Hayami, Governor, Bank of Japan, walking in 2. Cutaway of reporters 3. Mid shot of Hayami at press conference 4. SOUNDBITE: (Japanese) Masaru Hayami, Governor of the Bank of Japan APTN - File 5. Various shots of Yen printing APTN - 19 March 6. SOUNDBITE: (Japanese) Masaru Hayami, Governor of the Bank of Japan TV Tokyo - File 7. Aerial shot of Bank of Japan APTN - 19 March 8. SOUNDBITE: (English) Matthew Poggi, Economist, Lehman Brothers Japan 9. Various shots of Tokyo Stock Exchange?

ABCNEWS VideoSource Details

[Whale massacres]

INA Details

Myanmar Ford

AP-APTN-0930: Myanmar Ford Tuesday, 30 April 2013 STORY:Myanmar Ford- Car maker Ford announces entry into Myanmar market LENGTH: 02:32 FIRST RUN: 0730 RESTRICTIONS: AP Clients Only TYPE: Eng/Burmese/Natsound SOURCE: AP TELEVISION STORY NUMBER: 889555 DATELINE: Yangon - 30 April 2013 LENGTH: 02:32 AP TELEVISION - AP CLIENTS ONLY ++CORRECTION PLEASE NOTE THE US AMBASSADOR'S NAME IS JOSEPH MITCHELL++ SHOTLIST 1. Various of Yangon streets during rush hour 2. Various of news conference with Ford Motor Company representatives and local partners 3. Mid of cameraman, with Ford logo in background 4. Mid of US Ambassador to Myanmar Joseph Mitchell 5. Wide of news conference 6. SOUNDBITE (English) Dave Westerman, Regional manager for Ford Asia Pacific: "I guess we took a lead in a bid off of the US government and their call for American businesses to invest here in Myanmar. We've had great support from the US embassy and we felt it was a leading American, US business, it was important for us to kind of lead that call for investment in the country." 7. Cutaway of hands 8. SOUNDBITE (English) Dave Westerman, Regional manager for Ford Asia Pacific: "I look after the emerging markets in Asia Pacific for Ford Motor Company. There is 21 of them and they all have their different challenges and situations to deal with. And some that are here in Myanmar or what we face in the Cambodia or in the Laos, in the East Timor and all the emerging markets where we do business. So there is a lot of those." 9. Pan from sign at a local second hand car dealer to cars 10. Close of second hand cars 11. SOUNDBITE (Burmese) Zaw Zaw, Second hand car dealer: "Most of the people in Myanmar prefer Japanese and European cars because they are cheaper and they need less fuel. American cars will be more expensive and will use more fuel. I think customers will like Japanese cars more." 12. Various of workers repairing and cleaning second hand cars STORYLINE Ford Motor Company announced its entry into Myanmar on Tuesday, saying it plans to open the nation's first sales and service showroom for new vehicles by August. Myanmar's vehicle market has been stunted by decades of international sanctions and strict import controls put in place by the military junta that ruled for nearly 50 years, handing out import licenses to a few favoured tycoons. Unlike companies in Europe and Australia, Ford must negotiate a lingering web of US sanctions against Myanmar. The European Union this month joined Australia in eliminating its financial sanctions, leaving the US as the only country with restrictions on conducting business in Myanmar. The United States has suspended, but not rescinded, most sanctions, and maintains a targeted list of blacklisted companies and individuals. Some US businesses say the ambiguity about sanctions and onerous reporting requirements puts them at a competitive disadvantage. David Westerman, a regional manager for Ford Asia Pacific, said the current sanctions don't present too much of a hurdle for Ford. "We took a lead ... off the US government and their call for American businesses to invest here in Myanmar," he said. "It was important for us to kind of lead that call for investment in the country," Westerman added. Today most vehicles on the road are used Japanese cars. Ford's new cars are premium vehicles in a place where most people buy used cars. Westerman said initial demand will likely be mainly for commercial vehicles, but the company plans to introduce a full range of cars, trucks and SUVs by year's end. Its starting line-up includes the Ford Ranger truck and Taurus sedan. Zaw Zaw, a 44-year-old used car dealer in Yangon, said Ford will have a hard time overcoming consumer preference for affordable, fuel-efficient Japanese cars. "American cars will be more expensive and will use more fuel," he said. "I think customers will like Japanese cars more." Ford must not only figure out what customers want, but also train people to service their vehicles and work with the government as it establishes regulations for new cars. Ford has hired around 50 people for its Yangon operations and plans to expand across the country. Ford has no immediate plans to open assembly or manufacturing plants. Myanmar is the poorest country in Southeast Asia. Ford joins PepsiCo, Coca-Cola, GE, Caterpillar and Danish brewer Carlsberg, which have all signed distribution deals in Myanmar as rapid political and economic reforms transform the country from pariah state to investor darling. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN AP-WF-04-30-13 1037GMT

ABCNEWS VideoSource Details

US Hybrid Cars - Scientists urge push for less polluting hybrid car technology

TAPE: EF03/0010 IN_TIME: 04:25:50 / 07:38:03 DURATION: 2:37 SOURCES: APTN RESTRICTIONS: DATELINE: Los Angeles, California, USA, January 3, 2003 SHOTLIST: 1. Wide shot of hybrid car rally outside the Los Angeles Convention Centre 2. Mid shot of hybrid cars lined up outside convention centre 3. Close shot of hybrid car logo 4. Close shot of woman putting sign on hybrid car 5. Close shot of woman in hybrid car, tilt down to close shot of sign 6. Close shot of another sign on hybrid car 7. Tilt down from convention centre to hybrid car. 8. Mid shot of hybrid cars 9. Close shot of sign on windshield. 10. SOUNDBITE: (English) Richard Wegner, hybrid car owner: "Well....economy. I mean absolutely, I mean if you need an incentive that's the best incentive. I mean, the amount that I'm saving in gas on this car, compared to like an SUV (sport utility vehicle), is making the payments. So it's like a car for free." 11. Tilt down from convention centre to Union of Concerned Scientists banner. 12. Close shot of license plate. 13. SOUNDBITE: (English) Jason Mark, Clean Vehicles Programme director, Union of Concerned Scientists: "The hybrids are without a doubt here and now and ready to go. Folks are spending a lot of money investing in fuel-cell vehicles, which are sort of what most people agree are the technology to replace the internal combustion engine of today. But the hybrid vehicles are an excellent bridge. They're the technology that for the next couple of decades is really going to get us to that big scale fuel cell future." 14. Wide shot of Honda hybrid car display at the Greater Los Angeles Auto Show. 15. Close shot of Honda hybrid car display sign. 16. Wide shot of Honda fuel cell vehicle. 17. Close shot of Honda fuel cell vehicle. 18. Close shot of Honda fuel cell car display. 19. Mid shot of Toyota Prius hybrid car. 20. Close shot of Toyota Prius engine. 21. Wide shot of Ford display showing PZEV low-emissions vehicle. 22. Close shot of PZEV exhaust pipe. 23. Close shot of PZEV. 24. SOUNDBITE: (English) Jason Mark, Clean Vehicles Programme director, Union of Concerned Scientists: "The bottom line is that foreign automakers are making the case that not only can you capture market share and be very profitable, you can also bring green technologies to market. Detroit has got to get on board if they're going to be selling cars in this century, later in this century." 25. Mid shot of hybrid car rally. STORYLINE: The Union of Concerned Scientists (UCS) says its time for major car makers to build more cars that pollute less and use less fuel. A new study by the environmental group says US automakers could boost fuel efficiency and cut pollution by using hybrid technologies. Members of the Union were in Los Angeles Friday, joined by local owners of hybrid cars urging automakers to offer more hybrid models. They met outside the city's convention center where major auto makers are gathering for the annual Greater Los Angeles Auto Show. Hybrid cars combine a fuel-efficient gas burning engine and an electric motor to power vehicles. The UCS study says cars and trucks could reach an average fuel efficiency of 60 miles per gallon by the end of the next decade if automakers use the best available hybrid technologies. Many of the local hybrid car owners on hand for the rally drive some of the first available models of their kind, from Toyota and Honda. The Toyota Prius, Honda Insight and Honda Civic models at the rally use versions of hybrid engine technology. The Prius, for example, has an electric motor that takes over for the gas-powered engine at lower speeds. The battery for the electric motor is recharged by the the gas engine. The cars produce fewer polluting gases and also average between 40 and 50 miles per gallon of gas. Both Toyota and Honda have been the only car companies selling hybrid cars for several years. Toyota alone has sold more than 120,000 since it introduced the Prius in 2000. Honda sells its two-seat Insight and a hybrid version of its four-door Civic, with plans to roll out other hybrid models over the next few years. Beyond the hybrid concept, Honda is developing a fuel cell car powered by hydrogen. The Japanese automaker says their FCX model is the first fuel cell car to receive a government certification for commercial use. And US automakers are starting to pay attention to this small but growing segment of the auto market. Ford Motor Company has announced plans to launch a hybrid version of its Escape sport utility vehicle next year. At the LA auto show, Ford also introduced the PZEV concept: a car designed to produce extremely low emissions. General Motors is also gearing up to produce hybrid powered versions of its sport utility vehicles and pick-up trucks. Chrysler also plans to produce its first hybrid pick-up truck later this year. But company officials are down playing hybrids, saying they're not a viable long-term commercial alternative. Jason Mark at the Union of Concerned Scientists says hybrid technology is a viable bridge to fuel-cell powered cars that could some day replace the gas-burning engine.

ABCNEWS VideoSource Details

GIE Tahiti Perles: New commercial strategy

INA Details

OBAMA SPEECH ON ENERGY P1

PRESIDENT BARACK OBAMA DELIVERS REMARKS ON ENERGY AT GEORGETOWN UNIVERSITY - STIX 11:35:53 Obama enters 11:36:09 thank you so much. Thank you everybody. 11:36:29 it is wonderful to be back at Georgetown. We've got a number of acknowledgements. 11:38:21 I want to start with a difficult subject.I love coach Thompson. I love his dad and the great tradition that they had. And it turned out VCU was pretty good 11:38:57 We meet here at a tumultuous time for the world. In a matter of months, we've seen regimes toppled and democracy take root across North Africa and the Middle East. We've witnessed a terrible earthquake, catastrophic tsunami and nuclear emergency batter a strong ally and the world's third largest economy. And we've led an international effort in Libya to prevent a massacre and maintain stability throughout the broader region. 11:39:48 As Americans, we are heartbroken by the lives that have been lost as a result of these events. We are moved by the thirst for freedom in many nations, as well as the strength and perseverance of the Japanese people. And of course, it's natural to feel anxious about what all this means for us. 11:40:50 One area of particular concern has been the cost and security of our energy..middle east, japan. In an economy that relies on oil, rising prices at the pump affect everybody - workers and farmers; truck drivers and restaurant owners. Businesses see it hurt their bottom line. Families feel the pinch when they fill up their tank. For Americans already struggling to get by, it makes life that much harder. It hurts. I fyou're somebody who works in a relatively hard. But here's the thing - we've been down this road before. Remember, it was just three years ago that gas prices topped $4 a gallon. Working folks haven't forgotten that. It hit a lot of people pretty hard. But it was also the height of political season, so you had a lot of slogans and gimmicks and outraged politicians waving three-point-plans for two-dollar gas - when none of it would really do anything to solve the problem. Imagine that in Washington. 11:43:21 The truth is, of course, was that all these gimmicks didn't make a bit of difference. When gas prices finally fell, it was mostly because the global recession led to less demand for oil. Now that the economy is recovering, demand is back up. Add the turmoil in the Middle East, and it's not surprising oil prices are higher. And every time the price of a barrel of oil on the world market rises by $10, a gallon of gas goes up by about 25 cents. 11:44:16 The point is, the ups and downs in gas prices historically are temporary. When you look at the long-term trends, though, there will be more ups than downs. That's because countries like India and China are growing at a rapid clip. And as two billion more people start consuming more goods, and driving more cars, and using more energy, it's certain that demand will go up a lot faster than supply. 11:45:14 So here's the bottom line - there are no quick fixes. Anyone telling you differently isn't telling you the truth. And we will keep on being a victim to shifts in the oil market until we get serious about a long-term policy for secure, affordable energy. We're going to have to think long term, which is why I came here to talk to young people here at Georgetown. Because you have more of a stake in getting our energy policy right than anyone. 11:46:05 We've known about the dangers of our oil dependence for decades. Nixon knew. Presidents and politicians of every stripe have promised energy independence, but that promise has so far gone unmet. I've talked about reducing America's dependence on oil when I was running for president, and I'm proud of the historic progress we've made over the last two years towards that goal. But we've also run into the same political gridlock and inertia that's held us back for decades. 11:46:57 That has to change. 11:47:03 We cannot keep going from shock to trance on the issue of energy security, we can't rush to propose action when gas prices rise, then hit the snooze button when they fall again. The United States of America cannot afford to bet our long-term prosperity and security on a resource that will eventually run out. Not anymore. We can't afford the cost to our economy, our country, and our planet is so high. Not when your generation needs us to get this right. It is time to do what we can to secure our energy future. 11:48:10 and today, I'm setting a new goal: one that is reasonable, achievable, and necessary. When I was elected to this office, America imported 11 million barrels of oil a day. By a little more than a decade from now, we will have cut that by one-third. That is something that we can achieve. We can cut our oil dependence by a third. 11:48:47 I set this goal knowing that imported oil will remain an important part of our energy portfolio for quite some time. And when it comes to the oil we import from other nations, obviously we have to look at neighbors like Canada, Mexico, and Brazil, which recently discovered significant new oil reserves, and with whom we can share American technology and know-how as they develop those resources 11:49:41 But our best opportunities to enhance our energy security can be found in our own backyard. And we boast one critical, renewable resource the rest of the world cannot match: American ingenuity. American ingenuity. American know how. 11:50:05 To make ourselves more secure - to control our energy future - we will need to harness that ingenuity. It is a task that won't be finished by the end of my presidency, or even the next. But if we continue the work that we have already begun over the last two years, we won't just spark new jobs, industries and innovations; we will leave your generation and future generations a country that is safer, healthier, and more prosperous. 11:50:45 Today, my Administration is releasing a Blueprint for A Secure Energy Future that outlines the comprehensive national energy policy we've pursued since the day I took office. And here at Georgetown, I'd like to talk in broad strokes about how we will secure that future. Meeting this new goal of cutting our oil dependence depends largely on two things: finding and producing more oil at home, and reducing our dependence on oil with cleaner alternative fuels and greater efficiency. 11:51:28 This begins by continuing to increase America's oil supply.. Last year, American oil production reached its highest level since 2003. And for the first time in more than a decade, oil we imported accounted for less than half the liquid fuel we consumed. So that was a good trend 11:52:22 To keep reducing that reliance on imports, my Administration is encouraging offshore oil exploration and production - as long as it's safe and responsible. I don't think anyone's forgotten what happened year when we had to deal with the largest oil spill in our history. I know the people of the Gulf Coast haven't. What we learned from that disaster helped us put in place smarter standards of safety and responsibility - for example, if you're going to drill in deepwater, you've got to prove that you can actually contain an underwater spill. That's just common sense. And lately we've been hearing people saying that the obama admin has been putting restrictions on offshore drilling.I don't know about you, I don't have amnesia. I remember those things. And I think it's important to prevent something like that to happen again 11:53:55 Today, we're working to expedite new drilling permits for companies that meet these standards. Since they were put in, we've approved 39 new shallow water permits; and we've approved an additional 7 deepwater permits in recent weeks. When it comes to drilling onshore, my Administration approved more than two permits last year for every new well that the industry started to drill. So any claim that my Administration is responsible for gas prices because we've "shut down" oil production might make for a useful political sound bite - but it doesn't track with reality. If you're going to dill offshore, you've got to have a plan.and I don't think there is anybody that disputing that's the right thing to do 11:54:56 moreover, we are pushing the oil industry to take advantage of the opportunities they already have. Right now, the industry holds tens of millions of acres of leases where it's not producing a drop - sitting on supplies of American energy just waiting to be tapped. That's why part of our plan is to provide new and better incentives that promote rapid, responsible development of these resources. We're also exploring and assessing new frontiers for oil and gas development from Alaska to the Mid- and South Atlantic states. Because producing more oil in America can help lower oil prices, create jobs, and enhance our energy security. But we've got to do it in the right way 11:55:55 even if we decrease our oil consumption - it's not the long-term solution to our energy challenge. America holds only about two percent of the world's proven oil reserves. And even if we drilled every drop of oil out of every one of those reserves, it still wouldn't be enough to meet our long-term needs. All of this means one thing: the only way for America's energy supply to be truly secure is by permanently reducing our dependence on oil. We have to find ways to boost our efficiency so that we use less oil. We have to discover and produce cleaner, renewable sources of energy with less of the carbon pollution that threatens our climate. And we have to do it quickly. 11:57:20 In terms of new sources of energy, we have a few different options. The first is natural gas. As I mentioned earlier, recent innovations have given us the opportunity to tap large reserves - perhaps a century's worth - in the shale under our feet. Now, we have to make sure we're doing it safely, without polluting our water supply. And that's why I'm asking my Energy Secretary, Steven Chu, to work with other agencies, the natural gas industry, states, and environmental experts to improve the safety of this process. I don't know if you've heard, but he's got a Nobel Prize for physics, after all. He actually deserved his nobel prize. And this is the kind of thing he likes to do for fun on the weekend.I'm going to embarrass him further, you know last year when we were trying to figure out how to close th gap.essentially designed the cap that ultimately worked 11:59:34 But the potential for natural gas is enormous. It's actually an area of broad bipartisan agreement. Last year, more than 150 Members of Congress from both sides of the aisle proposed legislation providing incentives to use clean-burning natural gas in our vehicles instead of oil. They were even joined by T. Boone Pickens, a businessman who made his fortune on oil. So I ask them to keep at it and pass a bill that helps us achieve this goal. 12:00:34 Another substitute for oil that holds tremendous promise is renewable biofuels - not just ethanol, but biofuels made from things like switchgrass, wood chips, and biomass. If anyone doubts the potential of these fuels, consider Brazil. Already, more than half - half - of Brazil's vehicles can run on biofuels. And just last week, our Air Force used an advanced biofuel blend to fly an F-22 Raptor faster than the speed of sound. In fact, the Air Force is aiming to get half of its domestic jet fuel from alternative sources by 2016. And I'm directing the Navy and the Departments of Energy and Agriculture to work with the private sector to create advanced biofuels that can power not just fighter jets, but trucks and commercial airliners. 12:02:06 So there's no reason we shouldn't be using these renewable fuels throughout America. That's why we're investing in things like fueling stations and research into the next generation of biofuels. Over the next two years, we'll help entrepreneurs break ground on four next-generation biorefineries - each with a capacity of more than 20 million gallons per year. And going forward, we should look for ways to reform biofuels incentives to make sure they meet today's challenges and save taxpayers money. As we replace oil with fuels like natural gas and biofuels, we can also reduce our dependence by making cars and trucks that use less oil in the first place. After all, 70 percent of our petroleum consumption goes to transportation. And so does the second biggest chunk of most families' budgets. That's why one of the best ways to make our economy less dependent on oil and save folks more money is simply to make our transportation more efficient. 12:03:58 we went through 30 years when we didn't raise fuel efficiency standards on cars.30 years of lost time. Last year, we established a groundbreaking national fuel efficiency standard for cars and trucks. Our cars will get better gas mileage, saving 1.8 billion barrels of oil over the life of the program. Our consumers will save money from fewer trips to the pump - $3,000 on average over time. And our automakers will build more innovative products. Right now, there are even cars rolling off assembly lines in Detroit with combustion engines that can get more than 50 miles per gallon. Going forward, we'll continue working with automakers, autoworkers and states to ensure that the high-quality, fuel-efficient cars and trucks of tomorrow are built right here in America. This summer, we'll propose the first-ever fuel efficiency standard for heavy-duty trucks. And this fall, we'll announce the next round of fuel standards for cars that builds on what we've done. To achieve our oil goal, the federal government will lead by example. The fleet of cars and trucks we use in the federal government is one of the largest in the country. That's why we've already doubled the number of alternative vehicles in the federal fleet, and that's why, today, I am directing agencies to purchase 100% alternative fuel, hybrid, or electric vehicles by 2015. And going forward, we'll partner with private companies that want to upgrade their large fleets. We've also made historic investments in high-speed rail and mass transit, because part of making our transportation sector cleaner and more efficient involves offering Americans - urban, suburban, and rural - the choice to be mobile without having to get in a car and pay for gas. Still, there are few breakthroughs as promising for increasing fuel efficiency and reducing our dependence on oil as electric vehicles. Soon after I took office, I set a goal to have one million electric vehicles on our roads by 2015. We've created incentives for American companies to develop these vehicles, and for Americans who want to buy them. New manufacturing plants are opening over the next few years. And a modest, $2 billion investment in competitive grants for companies to develop the next generation of batteries for these cars has jumpstarted a big new American industry. Soon, America will be home to 40 percent of global manufacturing capacity for these batteries. And that means jobs. But to make sure we stay on the road to this goal, we need to do more - by offering more powerful incentives to consumers, and by rewarding the communities that pave the way for adoption of these vehicles. 12:10:06 turns out electric cars run on electricity. And even if we reduce our oil dependency, a smart, comprehensive energy policy requires that we change the way we generate electricity in America - so that it's cleaner, safer, and healthier. And by the way - we also know that ushering in a clean energy economy has the potential to create an untold number of new jobs and new businesses - jobs that we want right here in America. Part of this change comes from wasting less energy. Today, our homes and businesses consume 40 percent of the energy we use, costing us billions in energy bills. Manufacturers that require large amounts of energy to make their products are challenged by rising energy costs. That's why we've proposed new programs to help Americans upgrade their homes and businesses and plants with new, energy-efficient building materials like lighting, windows, heating and cooling - investments that will save consumers and business owners tens of billions of dollars a year, free up money for investment and hiring, and create jobs for workers and contractors. And just like the fuels we use, we also have to find cleaner, renewable sources of electricity. Today, about two-fifths of our electricity comes from clean energy sources. But I know that we can do better than that. In fact, I think that with the right incentives in place, we can double it. That's why, in my State of the Union Address, I called for a new Clean Energy Standard for America: by 2035, 80 percent of our electricity will come from an array of clean energy sources, from renewables like wind and solar to efficient natural gas to clean coal and nuclear power. Now, in light of ongoing events in Japan, I want to say another word about nuclear power. America gets one-fifth of our electricity from nuclear energy. It has important potential for increasing our electricity without adding carbon dioxide to the atmosphere. But I'm determined to ensure that it's safe. That's why I've requested a comprehensive safety review by the Nuclear Regulatory Commission to make sure that all of our existing nuclear energy facilities are safe. We'll incorporate those conclusions and lessons from Japan in designing and building the next generation of plants. And my Administration is leading global discussions towards a new international framework in which all countries operate their nuclear plants without spreading dangerous nuclear materials and technology. A Clean Energy Standard will broaden the scope of clean energy investment by giving cutting-edge companies the certainty they need to invest in America. In the 1980s, America was home to more than 80 percent of the world's wind capacity, and 90 percent of its solar capacity. We owned the clean energy economy. But today, China has the most wind capacity. Germany has the most solar. Both invest more than we do in clean energy. Other countries are exporting technology we pioneered and chasing the jobs that come with it because they know that the countries that lead the 21st century clean energy economy will be the countries that lead the 21st century global economy. 12:16:43 I want America to be that nation. I want America to win the future. A Clean Energy Standard will help drive private investment. But government funding will be critical too. Over the past two years, the historic investments we've made in clean and renewable energy research and technology have helped private sector companies grow and hire hundreds of thousands of new workers. I've visited gleaming new solar arrays among the largest in the world, tested an electric vehicle fresh off the assembly line, and toured once-shuttered factories where they're building advanced wind blades as long as a 747 and the towers to support them. I've seen the scientists searching for that next big energy breakthrough. And none of this would have happened without government support. 12:18:09 I understand we have a tight fiscal situation, it's fair to ask how we'll pay for all of it. As we debate our national priorities and our budget in Congress, we have to make tough choices. We'll have to cut what we don't need to invest in what we do need. Unfortunately, some want to cut these critical investments in clean energy. They want to cut our research and development into new technologies. They're even shortchanging the resources necessary to promptly issue new permits for offshore drilling. These cuts would eliminate thousands of private sector jobs, terminate scientists and engineers, and end fellowships for researchers, graduate students and other talent we desperately need for the 21st century. 12:19:08 we are already paying a price for our inaction. Every time we fill up at the pump; every time we lose a job or a business to countries that invest more than we do in clean energy; when it comes to our air, our water, and the climate change that threatens the planet you'll inherit - we are already paying that price. These are the costs we're already bearing. And if we do nothing, that price will only go up. At a moment like this, sacrificing these investments would weaken our energy security and make us more dependent on oil, not less. That's not a game plan to win the future. That's a vision to keep us mired in the past. And I will not accept that outcome for the United States of America. 12:20:10 I want to close by speaking directly to the students -- who will be writing America's next great chapter - the students gathered here today. The issue of energy independence is one that America has been talking about since before your parents were your age. On top of that, you go to school in a town that, for a long time, has suffered from a chronic unwillingness to come together and make tough choices. Because of all this, you'd be forgiven for thinking that maybe there isn't much we can do to rise to our challenges. But everything I have seen and experienced with your generation convinces me otherwise. I believe it is precisely because you have come of age in a time of rapid and sometimes unsettling change - born into a world with fewer walls, educated in an era of information, tempered by war and economic turmoil - that you believe, as deeply as any of our generations, that America can change for the better. We need that. We need you to dream big. We need you to summon that same spirit of unbridled optimism, that bold willingness to tackle tough challenges and see those challenges through that led previous generations to rise to greatness - to save democracy, to touch the moon, to connect the world with our own science and imagination. 12:22:13 That is what America is capable of. That's what you have to push America to do. and it will be you to push it. And it is that very history that teaches us that all of our challenges - all of them - are within our power to solve. 12:22:44 I don't want to leave this challenge for future presidents. I don't want to leave it for my children. And I do not want to leave it for yours. Solving it will take time and effort. It will require our brightest scientists, our most creative companies, and, most importantly, all of us - Democrats, Republicans, and everyone in between - to do our part. But with confidence - in America, in ourselves, and in one another - I know it is a challenge we will solve. 12:23:13 Thank you. God Bless You, and God Bless the United States of America.

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OBAMA SPEECH ON ENERGY P2

PRESIDENT BARACK OBAMA DELIVERS REMARKS ON ENERGY AT GEORGETOWN UNIVERSITY - STIX 11:35:53 Obama enters 11:36:09 thank you so much. Thank you everybody. 11:36:29 it is wonderful to be back at Georgetown. We've got a number of acknowledgements. 11:38:21 I want to start with a difficult subject.I love coach Thompson. I love his dad and the great tradition that they had. And it turned out VCU was pretty good 11:38:57 We meet here at a tumultuous time for the world. In a matter of months, we've seen regimes toppled and democracy take root across North Africa and the Middle East. We've witnessed a terrible earthquake, catastrophic tsunami and nuclear emergency batter a strong ally and the world's third largest economy. And we've led an international effort in Libya to prevent a massacre and maintain stability throughout the broader region. 11:39:48 As Americans, we are heartbroken by the lives that have been lost as a result of these events. We are moved by the thirst for freedom in many nations, as well as the strength and perseverance of the Japanese people. And of course, it's natural to feel anxious about what all this means for us. 11:40:50 One area of particular concern has been the cost and security of our energy..middle east, japan. In an economy that relies on oil, rising prices at the pump affect everybody - workers and farmers; truck drivers and restaurant owners. Businesses see it hurt their bottom line. Families feel the pinch when they fill up their tank. For Americans already struggling to get by, it makes life that much harder. It hurts. I fyou're somebody who works in a relatively hard. But here's the thing - we've been down this road before. Remember, it was just three years ago that gas prices topped $4 a gallon. Working folks haven't forgotten that. It hit a lot of people pretty hard. But it was also the height of political season, so you had a lot of slogans and gimmicks and outraged politicians waving three-point-plans for two-dollar gas - when none of it would really do anything to solve the problem. Imagine that in Washington. 11:43:21 The truth is, of course, was that all these gimmicks didn't make a bit of difference. When gas prices finally fell, it was mostly because the global recession led to less demand for oil. Now that the economy is recovering, demand is back up. Add the turmoil in the Middle East, and it's not surprising oil prices are higher. And every time the price of a barrel of oil on the world market rises by $10, a gallon of gas goes up by about 25 cents. 11:44:16 The point is, the ups and downs in gas prices historically are temporary. When you look at the long-term trends, though, there will be more ups than downs. That's because countries like India and China are growing at a rapid clip. And as two billion more people start consuming more goods, and driving more cars, and using more energy, it's certain that demand will go up a lot faster than supply. 11:45:14 So here's the bottom line - there are no quick fixes. Anyone telling you differently isn't telling you the truth. And we will keep on being a victim to shifts in the oil market until we get serious about a long-term policy for secure, affordable energy. We're going to have to think long term, which is why I came here to talk to young people here at Georgetown. Because you have more of a stake in getting our energy policy right than anyone. 11:46:05 We've known about the dangers of our oil dependence for decades. Nixon knew. Presidents and politicians of every stripe have promised energy independence, but that promise has so far gone unmet. I've talked about reducing America's dependence on oil when I was running for president, and I'm proud of the historic progress we've made over the last two years towards that goal. But we've also run into the same political gridlock and inertia that's held us back for decades. 11:46:57 That has to change. 11:47:03 We cannot keep going from shock to trance on the issue of energy security, we can't rush to propose action when gas prices rise, then hit the snooze button when they fall again. The United States of America cannot afford to bet our long-term prosperity and security on a resource that will eventually run out. Not anymore. We can't afford the cost to our economy, our country, and our planet is so high. Not when your generation needs us to get this right. It is time to do what we can to secure our energy future. 11:48:10 and today, I'm setting a new goal: one that is reasonable, achievable, and necessary. When I was elected to this office, America imported 11 million barrels of oil a day. By a little more than a decade from now, we will have cut that by one-third. That is something that we can achieve. We can cut our oil dependence by a third. 11:48:47 I set this goal knowing that imported oil will remain an important part of our energy portfolio for quite some time. And when it comes to the oil we import from other nations, obviously we have to look at neighbors like Canada, Mexico, and Brazil, which recently discovered significant new oil reserves, and with whom we can share American technology and know-how as they develop those resources 11:49:41 But our best opportunities to enhance our energy security can be found in our own backyard. And we boast one critical, renewable resource the rest of the world cannot match: American ingenuity. American ingenuity. American know how. 11:50:05 To make ourselves more secure - to control our energy future - we will need to harness that ingenuity. It is a task that won't be finished by the end of my presidency, or even the next. But if we continue the work that we have already begun over the last two years, we won't just spark new jobs, industries and innovations; we will leave your generation and future generations a country that is safer, healthier, and more prosperous. 11:50:45 Today, my Administration is releasing a Blueprint for A Secure Energy Future that outlines the comprehensive national energy policy we've pursued since the day I took office. And here at Georgetown, I'd like to talk in broad strokes about how we will secure that future. Meeting this new goal of cutting our oil dependence depends largely on two things: finding and producing more oil at home, and reducing our dependence on oil with cleaner alternative fuels and greater efficiency. 11:51:28 This begins by continuing to increase America's oil supply.. Last year, American oil production reached its highest level since 2003. And for the first time in more than a decade, oil we imported accounted for less than half the liquid fuel we consumed. So that was a good trend 11:52:22 To keep reducing that reliance on imports, my Administration is encouraging offshore oil exploration and production - as long as it's safe and responsible. I don't think anyone's forgotten what happened year when we had to deal with the largest oil spill in our history. I know the people of the Gulf Coast haven't. What we learned from that disaster helped us put in place smarter standards of safety and responsibility - for example, if you're going to drill in deepwater, you've got to prove that you can actually contain an underwater spill. That's just common sense. And lately we've been hearing people saying that the obama admin has been putting restrictions on offshore drilling.I don't know about you, I don't have amnesia. I remember those things. And I think it's important to prevent something like that to happen again 11:53:55 Today, we're working to expedite new drilling permits for companies that meet these standards. Since they were put in, we've approved 39 new shallow water permits; and we've approved an additional 7 deepwater permits in recent weeks. When it comes to drilling onshore, my Administration approved more than two permits last year for every new well that the industry started to drill. So any claim that my Administration is responsible for gas prices because we've "shut down" oil production might make for a useful political sound bite - but it doesn't track with reality. If you're going to dill offshore, you've got to have a plan.and I don't think there is anybody that disputing that's the right thing to do 11:54:56 moreover, we are pushing the oil industry to take advantage of the opportunities they already have. Right now, the industry holds tens of millions of acres of leases where it's not producing a drop - sitting on supplies of American energy just waiting to be tapped. That's why part of our plan is to provide new and better incentives that promote rapid, responsible development of these resources. We're also exploring and assessing new frontiers for oil and gas development from Alaska to the Mid- and South Atlantic states. Because producing more oil in America can help lower oil prices, create jobs, and enhance our energy security. But we've got to do it in the right way 11:55:55 even if we decrease our oil consumption - it's not the long-term solution to our energy challenge. America holds only about two percent of the world's proven oil reserves. And even if we drilled every drop of oil out of every one of those reserves, it still wouldn't be enough to meet our long-term needs. All of this means one thing: the only way for America's energy supply to be truly secure is by permanently reducing our dependence on oil. We have to find ways to boost our efficiency so that we use less oil. We have to discover and produce cleaner, renewable sources of energy with less of the carbon pollution that threatens our climate. And we have to do it quickly. 11:57:20 In terms of new sources of energy, we have a few different options. The first is natural gas. As I mentioned earlier, recent innovations have given us the opportunity to tap large reserves - perhaps a century's worth - in the shale under our feet. Now, we have to make sure we're doing it safely, without polluting our water supply. And that's why I'm asking my Energy Secretary, Steven Chu, to work with other agencies, the natural gas industry, states, and environmental experts to improve the safety of this process. I don't know if you've heard, but he's got a Nobel Prize for physics, after all. He actually deserved his nobel prize. And this is the kind of thing he likes to do for fun on the weekend.I'm going to embarrass him further, you know last year when we were trying to figure out how to close th gap.essentially designed the cap that ultimately worked 11:59:34 But the potential for natural gas is enormous. It's actually an area of broad bipartisan agreement. Last year, more than 150 Members of Congress from both sides of the aisle proposed legislation providing incentives to use clean-burning natural gas in our vehicles instead of oil. They were even joined by T. Boone Pickens, a businessman who made his fortune on oil. So I ask them to keep at it and pass a bill that helps us achieve this goal. 12:00:34 Another substitute for oil that holds tremendous promise is renewable biofuels - not just ethanol, but biofuels made from things like switchgrass, wood chips, and biomass. If anyone doubts the potential of these fuels, consider Brazil. Already, more than half - half - of Brazil's vehicles can run on biofuels. And just last week, our Air Force used an advanced biofuel blend to fly an F-22 Raptor faster than the speed of sound. In fact, the Air Force is aiming to get half of its domestic jet fuel from alternative sources by 2016. And I'm directing the Navy and the Departments of Energy and Agriculture to work with the private sector to create advanced biofuels that can power not just fighter jets, but trucks and commercial airliners. 12:02:06 So there's no reason we shouldn't be using these renewable fuels throughout America. That's why we're investing in things like fueling stations and research into the next generation of biofuels. Over the next two years, we'll help entrepreneurs break ground on four next-generation biorefineries - each with a capacity of more than 20 million gallons per year. And going forward, we should look for ways to reform biofuels incentives to make sure they meet today's challenges and save taxpayers money. As we replace oil with fuels like natural gas and biofuels, we can also reduce our dependence by making cars and trucks that use less oil in the first place. After all, 70 percent of our petroleum consumption goes to transportation. And so does the second biggest chunk of most families' budgets. That's why one of the best ways to make our economy less dependent on oil and save folks more money is simply to make our transportation more efficient. 12:03:58 we went through 30 years when we didn't raise fuel efficiency standards on cars.30 years of lost time. Last year, we established a groundbreaking national fuel efficiency standard for cars and trucks. Our cars will get better gas mileage, saving 1.8 billion barrels of oil over the life of the program. Our consumers will save money from fewer trips to the pump - $3,000 on average over time. And our automakers will build more innovative products. Right now, there are even cars rolling off assembly lines in Detroit with combustion engines that can get more than 50 miles per gallon. Going forward, we'll continue working with automakers, autoworkers and states to ensure that the high-quality, fuel-efficient cars and trucks of tomorrow are built right here in America. This summer, we'll propose the first-ever fuel efficiency standard for heavy-duty trucks. And this fall, we'll announce the next round of fuel standards for cars that builds on what we've done. To achieve our oil goal, the federal government will lead by example. The fleet of cars and trucks we use in the federal government is one of the largest in the country. That's why we've already doubled the number of alternative vehicles in the federal fleet, and that's why, today, I am directing agencies to purchase 100% alternative fuel, hybrid, or electric vehicles by 2015. And going forward, we'll partner with private companies that want to upgrade their large fleets. We've also made historic investments in high-speed rail and mass transit, because part of making our transportation sector cleaner and more efficient involves offering Americans - urban, suburban, and rural - the choice to be mobile without having to get in a car and pay for gas. Still, there are few breakthroughs as promising for increasing fuel efficiency and reducing our dependence on oil as electric vehicles. Soon after I took office, I set a goal to have one million electric vehicles on our roads by 2015. We've created incentives for American companies to develop these vehicles, and for Americans who want to buy them. New manufacturing plants are opening over the next few years. And a modest, $2 billion investment in competitive grants for companies to develop the next generation of batteries for these cars has jumpstarted a big new American industry. Soon, America will be home to 40 percent of global manufacturing capacity for these batteries. And that means jobs. But to make sure we stay on the road to this goal, we need to do more - by offering more powerful incentives to consumers, and by rewarding the communities that pave the way for adoption of these vehicles. 12:10:06 turns out electric cars run on electricity. And even if we reduce our oil dependency, a smart, comprehensive energy policy requires that we change the way we generate electricity in America - so that it's cleaner, safer, and healthier. And by the way - we also know that ushering in a clean energy economy has the potential to create an untold number of new jobs and new businesses - jobs that we want right here in America. Part of this change comes from wasting less energy. Today, our homes and businesses consume 40 percent of the energy we use, costing us billions in energy bills. Manufacturers that require large amounts of energy to make their products are challenged by rising energy costs. That's why we've proposed new programs to help Americans upgrade their homes and businesses and plants with new, energy-efficient building materials like lighting, windows, heating and cooling - investments that will save consumers and business owners tens of billions of dollars a year, free up money for investment and hiring, and create jobs for workers and contractors. And just like the fuels we use, we also have to find cleaner, renewable sources of electricity. Today, about two-fifths of our electricity comes from clean energy sources. But I know that we can do better than that. In fact, I think that with the right incentives in place, we can double it. That's why, in my State of the Union Address, I called for a new Clean Energy Standard for America: by 2035, 80 percent of our electricity will come from an array of clean energy sources, from renewables like wind and solar to efficient natural gas to clean coal and nuclear power. Now, in light of ongoing events in Japan, I want to say another word about nuclear power. America gets one-fifth of our electricity from nuclear energy. It has important potential for increasing our electricity without adding carbon dioxide to the atmosphere. But I'm determined to ensure that it's safe. That's why I've requested a comprehensive safety review by the Nuclear Regulatory Commission to make sure that all of our existing nuclear energy facilities are safe. We'll incorporate those conclusions and lessons from Japan in designing and building the next generation of plants. And my Administration is leading global discussions towards a new international framework in which all countries operate their nuclear plants without spreading dangerous nuclear materials and technology. A Clean Energy Standard will broaden the scope of clean energy investment by giving cutting-edge companies the certainty they need to invest in America. In the 1980s, America was home to more than 80 percent of the world's wind capacity, and 90 percent of its solar capacity. We owned the clean energy economy. But today, China has the most wind capacity. Germany has the most solar. Both invest more than we do in clean energy. Other countries are exporting technology we pioneered and chasing the jobs that come with it because they know that the countries that lead the 21st century clean energy economy will be the countries that lead the 21st century global economy. 12:16:43 I want America to be that nation. I want America to win the future. A Clean Energy Standard will help drive private investment. But government funding will be critical too. Over the past two years, the historic investments we've made in clean and renewable energy research and technology have helped private sector companies grow and hire hundreds of thousands of new workers. I've visited gleaming new solar arrays among the largest in the world, tested an electric vehicle fresh off the assembly line, and toured once-shuttered factories where they're building advanced wind blades as long as a 747 and the towers to support them. I've seen the scientists searching for that next big energy breakthrough. And none of this would have happened without government support. 12:18:09 I understand we have a tight fiscal situation, it's fair to ask how we'll pay for all of it. As we debate our national priorities and our budget in Congress, we have to make tough choices. We'll have to cut what we don't need to invest in what we do need. Unfortunately, some want to cut these critical investments in clean energy. They want to cut our research and development into new technologies. They're even shortchanging the resources necessary to promptly issue new permits for offshore drilling. These cuts would eliminate thousands of private sector jobs, terminate scientists and engineers, and end fellowships for researchers, graduate students and other talent we desperately need for the 21st century. 12:19:08 we are already paying a price for our inaction. Every time we fill up at the pump; every time we lose a job or a business to countries that invest more than we do in clean energy; when it comes to our air, our water, and the climate change that threatens the planet you'll inherit - we are already paying that price. These are the costs we're already bearing. And if we do nothing, that price will only go up. At a moment like this, sacrificing these investments would weaken our energy security and make us more dependent on oil, not less. That's not a game plan to win the future. That's a vision to keep us mired in the past. And I will not accept that outcome for the United States of America. 12:20:10 I want to close by speaking directly to the students -- who will be writing America's next great chapter - the students gathered here today. The issue of energy independence is one that America has been talking about since before your parents were your age. On top of that, you go to school in a town that, for a long time, has suffered from a chronic unwillingness to come together and make tough choices. Because of all this, you'd be forgiven for thinking that maybe there isn't much we can do to rise to our challenges. But everything I have seen and experienced with your generation convinces me otherwise. I believe it is precisely because you have come of age in a time of rapid and sometimes unsettling change - born into a world with fewer walls, educated in an era of information, tempered by war and economic turmoil - that you believe, as deeply as any of our generations, that America can change for the better. We need that. We need you to dream big. We need you to summon that same spirit of unbridled optimism, that bold willingness to tackle tough challenges and see those challenges through that led previous generations to rise to greatness - to save democracy, to touch the moon, to connect the world with our own science and imagination. 12:22:13 That is what America is capable of. That's what you have to push America to do. and it will be you to push it. And it is that very history that teaches us that all of our challenges - all of them - are within our power to solve. 12:22:44 I don't want to leave this challenge for future presidents. I don't want to leave it for my children. And I do not want to leave it for yours. Solving it will take time and effort. It will require our brightest scientists, our most creative companies, and, most importantly, all of us - Democrats, Republicans, and everyone in between - to do our part. But with confidence - in America, in ourselves, and in one another - I know it is a challenge we will solve. 12:23:13 Thank you. God Bless You, and God Bless the United States of America.

ABCNEWS VideoSource Details

PRESIDENT TRUMP CONGRATULATES PEGGY WHITSON - CUTS

Monday, April 24, 2017 President Trump has a video conference with NASA astronauts aboard the International Space Station DC SLUG: 1020 WH NASA CUTS FS33 73 AR: 16X9 NYRS: WASH-7 NASA: White House, this is Mission Control, Houston. Please call Station for a voice check. 10;00;33 THE PRESIDENT: Do you hear me? CMDR. WHITSON: Yes, sir. We have you loud and clear. 10;00;46 THE PRESIDENT: Well, that's what we like -- great American equipment that works. And this isn't easy. (Laughter.) I want to say it's very exciting to be here today -- very, very exciting -- and to speak to you live with three brave American astronauts. These are our finest. These are great, great Americans, great people. 10:01:13 Two join us from orbit aboard the International Space Station: Commander Peggy Whitson and Colonel Jack Fischer. And Peggy Whitson has been setting records, and we're going to talk about that very soon. I'm here in the Oval Office, along with my daughter Ivanka and astronaut Kate Rubins, who recently returned from space and from the Space Station. Together, we are being joined by students all across America, thousands and thousands of students who are learning -- they're learning about space, learning about a lot of other things -- and they're watching this conversation from the classroom. And, all over, we have astronauts and we have everybody, who are flying right now, 17,000 miles per hour. That's about as fast as I've ever heard. I wouldn't want to be flying 17,000 miles an hour. But that's what you do. Peggy, Jack, and Kate, I know that America's students are thrilled to hear from you. But first, I want to say that this is a very special day in the glorious history of American spaceflight. Today, Commander Whitson, you have broken the record for the most total time spent in space by an American astronaut -- 534 days and counting. That's an incredible record to break. And on behalf of our nation and, frankly, on behalf of the world, I'd like to congratulate you. That is really something. And I'd like to know, how does it feel to have broken such a big and important record? 10:02:59 CMDR. WHITSON: Well, it's actually a huge honor to break a record like this, but it's an honor for me basically to be representing all the folks at NASA who make this spaceflight possible and who make me setting this record feasible. And so it's a very exciting time to be at NASA. We are all very much looking forward, as directed by your new NASA bill - 10;03;25 We're excited about the missions to Mars in the 2030s. And so we actually, physically, have hardware on the ground that's being built for the SLS rocket that's going to take us there. And, of course, the hardware being built now is going to be for the test flights that will eventually get us there. But it's a very exciting time, and I'm so proud of the team. THE PRESIDENT: Great. And what are we learning from having you spending your time up there? I know so much research is done; I'm getting a glimpse of some of it right here in the Oval Office. What are we learning by being in space? CMDR. WHITSON: Well, I think probably the International Space Station is providing a key bridge from us living on Earth to going somewhere into deep space. So on those Mars missions, we need to better understand how microgravity is really affecting our body, and we need to understand it in great detail. So, many of the studies are looking at the human body. We're also looking at things that involve operations of a space vehicles on these long-duration missions and the technological advancements that will be required. For instance, on a multiyear Mars mission, we're going to need to be able to close the life support system, and that means we, right now, for instance, are taking solar power that we collect, and using it to break apart water into oxygen and hydrogen. The oxygen, we breathe, of course. We use the hydrogen, combine it back with the CO2 that we take out of the air, and make more water. But water is such a precious resource up here that we also are cleaning up our urine and making it drinkable. And it's really not as bad as it sounds. 10:05:22 THE PRESIDENT: Well, that's good. I'm glad to hear that. (Laughter.) Better you than me. I will say, Colonel Fischer, you just arrived, and how was your trip? Complicated? Easy? How did it go? COL. FISCHER: Oh, sir, it was awesome. It made even my beloved F-22 feel a little bit underpowered. I launched in a Russian vehicle with my Russian friend, Fyodor Yurchikhin, from Kazakhstan. Got the immediate perspective change as we got to orbit, and I saw that frail, thin blue line of life around the Earth. Six hours later, we're docked at the station. The next day, I install an experiment in the Japanese module that's going to be looking at new drugs and how we can make those drugs for muscular dystrophy, Alzheimer's, multi-drug-resistant bacteria -- all sorts of things. 10;06;16 A couple hours later, I watched our crewmate, Thomas Pesquet, a Frenchman, drive a Canadian robotic arm to capture a spaceship from Virginia, carrying 3.5 tons of cargo and science that's going to keep us busy for the next few months, and dock that to the station. Sir, it's amazing. Oh, and then, you know, now I'm talking to the President of the United States while hanging from a wall. It's amazing. The International Space Station is, by far, the best example of international cooperation and what we can do when we work together in the history of humanity. And I am so proud to be a part of it. And it's just cool. (Laughter.) Like, yesterday, I had -- well, there you go 10:07:09 There's our resident space ninja doing the gravity demonstration. And yesterday morning, I had my coffee in floaty ball form, and, sir, it was delicious. So, it's awesome. THE PRESIDENT: Tell me, Mars -- what do you see a timing for actually sending humans to Mars? Is there a schedule? And when would you see that happening? CMDR. WHITSON: Well, I think as your bill directed, it will be approximately in the 2030s. As I mentioned, we actually are building hardware to test the new heavy launch vehicle, and this vehicle will take us further than we've ever been away from this planet. Unfortunately, spaceflight takes a lot of time and money, so getting there will require some international cooperation to get it to be a planet-wide approach in order to make it successful, just because it is a very expensive endeavor. But it so worthwhile doing. 10:08:17 THE PRESIDENT: Well, we want to try and do it during my first term or, at worst, during my second term. So we'll have to speed that up a little bit, okay? CMDR. WHITSON: (Laughter.) We'll do our best. THE PRESIDENT: Oh, you will. And I have great respect for you folks. It's amazing what you do. And I just want to introduce another great one. Kate Rubins is with us today, and she has been so impressive with research and so many other things having to do with NASA. And, Kate, I understand you're the first person to sequence DNA in space. Can you tell us about that? DR. RUBINS: Yeah. So that was actually just this last summer, and it's a real example of what we can do with technology and innovation. We've got a sequencer down to the size of your cellphone, and we were actually able to fly that onboard the space station and sequence DNA. It's not just the technology demonstration, but we can actually use that to do things like detect microbes on the space station, look at astronaut health. We can easily use that in Earth-based settings, too, to look for disease outbreaks and to do rural healthcare as well. THE PRESIDENT: That's fantastic. That is really great. I saw some of the work, and it's incredible. You know, I've been dealing with politicians so much, I'm so much more impressed with these people. You have no idea. Now, speaking of another impressive person -- Ivanka, you've been very much interested in this program. Tell us something about it. MS. TRUMP: Hi, Dr. Whitson. First of all, congratulations on your incredible milestone today. You may know that my father recently signed the Inspire Women Act to encourage female participation in STEM fields across all aerospace areas, and really with a focus on NASA. So encouraging women and girls to pursue STEM careers is a major priority for this administration. And today we are sitting with an amazing example of that -- Dr. Rubins, and you, Dr. Whitson. So I would love to hear from you, what was the impetus for you to get involved in the sciences? DR. RUBINS: Yeah, so when I around fifteen, I actually went to a conference, and that was very inspiring for me. It was sort of the beginning of recombinant DNA and understanding biology. And so just that exposure to scientists and the kinds of things that you can do with science and technology innovation. MS. TRUMP: Amazing. Dr. Whitson? 10;10;41 CMDR. WHITSON: For me, it was actually the Apollo program was my inspiration, and that was when it became a dream to become an astronaut. But I don't really think it became a goal until I graduated from high school, when the first female astronauts were selected. And seeing those role models, and with the encouragement of my parents and various mentors in college and graduate school, and when I started working at Rice, that's what made it possible, I think, to become an astronaut. And it took me a lot longer to become an astronaut than I ever really wanted it to take, but I do think I'm better at my job because of the journey. MS. TRUMP: You're an incredible inspiration to us all. So I would also like to ask you one more question. 10;11;26 I'm incredibly curious, as I'm sure all the students across the country are, to know what a day in the life in space is like. Could you share what a typical day looks like, what the challenges are, just any special moments? CMDR. WHITSON: Well, a typical day, we wake up and look at the messages from the ground, because we have a huge ground team that's working overnight to prepare changes or the details of the tests that we're going to be performing over the course of the day. So first thing I do is check out that, see what's changed. But on any given day, it can be so dramatically different. On one day, we might be focusing on science. On another day, we might be repairing the carbon dioxide removal system. On another day, soon Jack and I are going to do a spacewalk. We talked about, last Saturday, we did robotics operations. I love the diversity of the different activities that we do. Plus, you know, we have over 200 investigations ongoing onboard the space station, and I just think that's a phenomenal part of the day. Of course, there's also just the living and, onboard the space station, it's such a unique and novel environment. Nothing that we're used to on the ground. And it's so special to just be in zero gravity. So Jack is the new guy here, and I think he can probably give you a better perspective on what that's like. COL. FISCHER: Well, you know, everything here -- my dad always said that if you love what you do, you never work a day in your life. 10;13;01 And we work really hard up here, but it's not really work, it's just fun. It's like playing fort almost, only you're changing the world while you do it. And then on the off time, the other morning I was working out, and on our machine that we work out on, right below it is the Cupola window. And so when you're on the device where you do crunches, every time you come up, you see out the window. And it's awesome because you kind of go, crunch, "Oh, my gosh, that's beautiful! I got to do that again." Crunch, "Oh my gosh, that's beautiful." It's awesome. Everything we do here is fun, and it feels so great to know that we're making a difference on the ground and for the future of humanity as well. So it's an incredible, incredible job. THE PRESIDENT: You're making a great difference, I have to say. And this is a very exciting time for our country, and you see what's happening with our country in terms of jobs, in terms of business, and there's such excitement and such enthusiasm. 10;14;08 Many American entrepreneurs are racing into space. I have many friends that are so excited about space. They want to get involved in space from the standpoint of entrepreneurship and business. Tell us about the opportunities that could exist for the next generation of scientists and engineers. Is that something that you think a student -- because you have so many students, hundreds of thousands watching -- is that something that you think that students should be focusing, or should they be thinking about other subjects? What do you think are the opportunities for young students wanting to be involved in space? COL. FISCHER: Sir, absolutely. I think that this is probably the most exciting in space exploration, certainly in my lifetime. We are about to just have an explosion of activity. There is so much involvement on the space station with commercial industries and commercial partners. We have an entire program to manage the science. NASA has done a wonderful job of seeding a new industry with the Commercial Crew Program and the Commercial Cargo Program so that we can build the infrastructure we need for the future exploration. One thing I love about American entrepreneurs is, once you get them going, you better stand out of their way because they're going to start chucking. And we're about to that point. NASA is taking on that expensive, hard, complex task of going further and deeper into space with the wonderful new rocket, Space Launch System and Orion. And then, as soon as we break open that door, this incredible infrastructure that we've been building is going to be right there to pick up the baton and continue into the stars. I would say to all the students that are watching, the time to get excited is now. If you aren't studying science and math, you might want to think about that because our future in the stars starts now, and you can be a part of that if, like Dr. Whitson, you can find that passion and work really hard. And we're going to find a permanent foothold in the stars for humanity if you do that. THE PRESIDENT: Well, thank you. So well said. And I have to say, there's tremendous military application in space. We're rebuilding our military like never before. We're ordering equipment, and we're going to have the strongest military that we've ever had, the strongest military that the world has ever seen, and there's been no time where we need it more. 10;16;54 And I'm sure that every student watching wants to know, what is next for Americans in space. I'm very proud that I just signed a bill committing NASA to the aim of sending America astronauts to Mars. So we'll do that. I think we'll do it a lot sooner than we're even thinking. So which one of you is ready to go to Mars? Are you ready? And I think you're ready. I know you're ready, right? We just discussed that. She'd like to go to Mars very quickly. Who's ready to go to Mars up there? CMDR. WHITSON: We are absolutely ready to go to Mars. It's going to be a fantastic journey getting there, and very exciting times, and all of us would be happy to go. But I want all the young people out there to recognize that the real steps are going to be taken in a few years. And so by studying math, science, engineering, any kind of technology, you're going to have a part in that, and that will be very exciting. THE PRESIDENT: I just want to thank you very much. And, Dr. Whitson, I just -- congratulations. Amazing. 10;18;00 What an amazing thing that you've done. Everybody here -- I know you're family -- but everybody here is incredibly proud of the record you just broke. I hope that every young American watching today finds, in your example, a reason to love space and think about space because many great things are going to come out, tremendous discoveries in medicine and so many other fields. So thank you very much. I want to say God bless you, God bless America. We are very, very proud of you, and very proud of your bravery. Thank you very much.

ABCNEWS VideoSource Details

HOUSE ENERGY SUBCOMMITTEE HEARING WITH SECRETARY CHU 0930

House Energy and Commerce Subcommittee hearing with Steven Chu, Secretary of Energy and Gregory Jaczo, Chairman of the Nuclear Regulatory Commission 09:36:30 [ GAVEL ] >WE'LL CALL THE HEARING TO 09:36:34 ORDER THIS MORNING. THE TITLE OF TODAY'S HEARING IS 09:36:38 THE FISCAL YEAR 2012 DEPARTMENT OF ENERGY AND NUCLEAR REGULATORY 09:36:45 COMMISSION BUDGETS. AND WE CERTAINLY EXTEND A WARM 09:36:51 WELCOME TO SECRETARY STEVEN CHEW, SECRETARY OF THE U.S. 09:36:54 DEPARTMENT OF ENERGY. MR. SECRETARY, WE APPRECIATE 09:36:57 YOU'RE BEING WITH US TODAY VERY MUCH. 09:36:59 AND WE LOOK FORWARD TO YOUR TESTIMONY. 09:37:02 WE ALSO HAVE WITH US ON THE SECOND PANEL, THE HONORABLE 09:37:07 GREGORY JASCO, CHAIRMAN OF THE NUCLEAR REGULATORY COMMISSION. 09:37:14 CIRCUMSTANCES HAVE CERTAINLY CHANGED SINCE WE DECIDED TO HAVE 09:37:17 THIS HEARING. AND WITH THE EVENTS TAKING PLACE 09:37:22 IN JAPAN, WE ALL WANT TO EXTEND OUR VERY BEST WISHES AND 09:37:25 THOUGHTS TO THE PEOPLE OF JAPAN. AND AS A RESULT OF THIS TRAGEDY, 09:37:31 AND WILL CERTAINLY BENEFIT TODAY FROM THE INSIGHTS OF DR. CHU AND 09:37:42 DR. JASCO ON THIS MATTER. OBVIOUSLY NUCLEAR ENERGY PLAYS A 09:37:46 VITAL ROLE IN THE ENERGY NEEDS OF OUR COUNTRY TODAY. 09:37:49 AND IT POIS ROUGHLY 20% OF ALL ELECTRICITY GENERATED IN 09:37:53 AMERICA. COUNTRIES LIKE FRANCE AND JAPAN 09:37:55 HAVE AN EVEN GREATER PERCENTAGE OF ELECTRICITY PRODUCED FROM 09:38:00 ENERGY. AND WE RECOGNIZE THE IMPORTANCE 09:38:02 WHEN WE TALK ABOUT ENERGY, ALSO, OF THE SAFETY ASPECT OF THAT AS 09:38:08 WELL. AND WHILE I DIDN'T REALLY INTEND 09:38:10 TO TALK A LOT ABOUT NUCLEAR ENERGY TODAY, THERE ARE SO MANY 09:38:17 POINTS RELATING TO OUR COUNTRY AS IT PERTAINS TO NUCLEAR ENERGY 09:38:23 TODAY. THE STORAGE ISSUE, YUCCA 09:38:29 MOUNTAIN, WHAT'S HAPPENING THERE. 09:38:31 THE 106 NUCLEAR PLANTS AROUND THE COUNTRY. 09:38:34 AND THE LOCATION ON THOSE SITES OF THE WASTE MATERIAL INSTEAD OF 09:38:37 GOING TO YUCCA MOUNTAIN. THE PERMITTING PERIOD, ROUGHLY 09:38:42 TEN YEARS TO GET A PLANT PERMITTED. 09:38:48 IN OTHER COUNTRIES, IT'S LESS THAN THAT. 09:38:50 BUT AS WE'VE LEARNED, JUST IN THE LAST FEW DAYS FROM WHAT 09:38:54 HAPPENED IN JAPAN, WE CAN EXPECT UNEXPECTED EVENTS TO OCCUR. 09:39:01 AND WE HAVE TO MARKIZE SAFETY. I FOR ONE DO NOT BELIEVE THAT WE 09:39:06 CAN MEET OUR FUTURE DEMANDS OF ENERGY WITHOUT NUCLEAR PLAYING A 09:39:10 VITAL ROLE IN THAT. SO MR. SECRETARY, WE ARE GOING 09:39:15 TO LOOK FORWARD TO YOUR TESTIMONY. 09:39:17 I KNOW THAT THERE WILL BE A LOT OF QUESTIONS FOR YOU. 09:39:20 AND AT THIS TIME, I WOULD RECOGNIZE FOR HIS OPENING 09:39:24 STATEMENT, MR. RUSH OF ILLINOIS. I WANT TO THANK YOU, MR. 09:39:28 CHAIRMAN. I WANT TO THANK MR. SECRETARY 09:39:33 CHU AND CHAIRMAN, MR. SECRETARY CHU FOR BEING HERE TODAY. 09:39:37 I UNDERSTAND WE HAVE CHAIRMAN JASCO COMING IN A LITTLE LATER. 09:39:41 BEFORE I GIVE ME THOUGHTS ON THE NUCLEAR SITUATION IN JAPAN AS 09:39:44 YOU HAVE, MR. CHAIRMAN, I WOULD LIKE TO BRING ATTENTION TO THE 09:39:48 DRASTIC CUTS THAT HAVE BEEN PROPOSED BY MY REPUBLICAN 09:39:52 COLLEAGUE, UNDER HR 1. SECTION 3001. 09:39:57 OF HR 1, WOULD RESCIND ALL UNOBLIGATED RECOVERY ACT FUNDS. 09:40:05 AND THESE CUTS WOULD DIRECTLY IMPACT CRUCIAL JOB-CREATING 09:40:11 RENEWABLE ENERGY PROJECTS UNDER THE LOAN GUARANTEE PROGRAM. 09:40:15 AT LEAST 26 JOB-CREATING PROBLEMS ACROSS THE COUNTRY FROM 09:40:20 CALIFORNIA TO ILLINOIS, MICHIGAN TO NEW YORK, AND OREGON TO TEXAS 09:40:25 WOULD BE AFFECTED BY THESE PROPOSED CUTS. 09:40:28 IN ALL, PROJECTS WITH NEGOTIATING TERM SHEETS OF $12.5 09:40:33 BILLION IN LOAN GUARANTEES THAT WOULD CREATE OVER 28,000 09:40:39 CONSTRUCTION JOBS AND OVER 5,000 PERMANENT JOBS ARE AT STAKE. 09:40:44 THE REPUBLICAN PROPOSAL WOULD BASICALLY PUT ALL OF THE DOE 09:40:48 LOAN GUARANTEE FUNDING INTO ONE CATEGORY, AND THAT CATEGORY IS 09:40:53 NUCLEAR ENERGY. AND WHILE I'M A SUPPORTER OF 09:40:57 NUCLEAR ENERGY, I BLS BELIEVE WE MUST INVEST IN RENEWABLE ENERGY 09:41:03 PROJECT THAT WOULD GENERATE AUR FROM SOLAR, WIND, THERMAL, 09:41:09 BIOMASS AND ETHANOL AS MANY OF THESE PROJECTS DO. 09:41:12 MR. CHAIRMAN, MY STATE OF ILLINOIS OBTAINS 47% OF ITS 09:41:17 ELECTRICITY FROM NUCLEAR. ONE OF THE HIGHEST IN THE 09:41:20 NATION. I PERSONALLY BELIEVE THAT 09:41:23 NUCLEAR MUST BE PART OF ANY PORTFOLIO OF RENEWABLE ENERGY 09:41:27 SOURCES THAT WILL MOVE THIS NATION FORWARD. 09:41:31 HOWEVER, AS FAR AS THE EVENTS UNFOLDING IN JAPAN ARE 09:41:34 CONCERNED, MY ADVICE FOR THE NUCLEAR ENERGY INDUSTRY, MOVE 09:41:38 HERE AND IN JAPAN, AND ELSEWHERE, WOULD BE TO BE AS 09:41:42 TRANSPARENT AS POSSIBLE. TRANSPARENCY IS REALLY THE KEY 09:41:47 WORD. THE AMERICAN PEOPLE, THE PEOPLE 09:41:50 AROUND THE WORLD ARE LOOKING FOR TRANSPARENCY. 09:41:53 THEY WANT TO BELIEVE IN THE NUCLEAR ENERGY. 09:41:55 AND I THINK IT IS UP TO US AND OTHERS TO MAKE THAT HAPPEN. 09:41:58 WE MUST MAKE SURE THAT WE ARE HONEST WITH THE AMERICAN PEOPLE 09:42:01 ABOUT EXACTLY WHAT WE KNOW, AND ALSO WHAT WE DO NOT KNOW. 09:42:06 MR. CHAIRMAN, AND MR. CHAIRMAN, I LOOK FORWARD TO DISCUSSING 09:42:09 THIS MORE IN-DEPTH DURING THE DISCUSSIONS WITH SECRETARY CHU 09:42:15 AND CHAIRMAN JASCO, THANK YOU, MR. CHAIRMAN, AND WITH THAT I 09:42:19 WANT TO RECOGNIZE -- MR. WAXMAN. I YIELD BACK THE BALANCE OF MY 09:42:31 TIME. MR. BUSH, THANK YOU FOR YOUR 09:42:33 COMMENTS, I NOTICED YOU HAD ABOUT TWO MINUTES LEFT ON YOUR 09:42:35 OPENING STATEMENT. I HAD ABOUT TWO MINUTES LEFT ON 09:42:38 MY OPENING STATEMENT AND I WAS LOOKING SO FORWARD TO WHAT 09:42:43 YOU'VE SAID THAT I NEGLECTED TO RECOGNIZE MY FRIEND, MR. 09:42:55 SHIMKUS. WHO IS NOW RECOGNIZED FOR TWO 09:42:57 MINUTES. THANK YOU, MR. CHAIRMAN, 09:42:59 WELCOME, MR. SECRETARY. WE ALWAYS LIVE IN INTERESTING 09:43:01 TIMES AND THIS IS ANOTHER ONE. THIS IS A D.O.E. BUDGET HEARING. 09:43:08 AND OF COURSE, BUDGETS ARE ALL THE RAGE, SIZE OF GOVERNMENT 09:43:12 SPENDING. YOUR BUDGET REQUEST IS $29.5 09:43:21 BILLION. ABOUT A 12% INCREASE FROM FISCAL 09:43:23 YEAR 2010. SO A LOT OF QUESTIONS WILL BE 09:43:28 OBVIOUSLY THAT'S NOT GOING TO HAPPEN. 09:43:30 WE'RE GOING TO HAVE TO PRIORITIZE. 09:43:32 AND WE'RE GOING TO SEE WHAT WORKS AND GO THROUGH THE LIST 09:43:35 AND MAKE SURE WE'RE FUNDING THE PRIORITIES. 09:43:39 BUT NOWHERE IN AMERICA IS ANYONE EXPECTING US TO INCREASE THE 09:43:44 SIZE OF GOVERNMENT AND FED AGENCIES BY 12%. 09:43:48 AS I SAID IN ANOTHER HEARING, BE PREPARED FOR 2008 SPENDING 09:43:53 LEVELS OR, SIGNIFICANTLY REDUCED AMOUNT. 09:43:56 SO THAT'S AN ISSUE. HAVING SAID THAT, WE WANT TO YOU 09:44:02 KNOW, APPLAUD AND THE WORK AND WANT TO CONTINUE TO SUPPORT AS 09:44:07 MR. RUSH SAID, I'M FROM ILLINOIS ALSO, THE NUCLEAR POWER 09:44:11 INDUSTRY. MAKE SURE IT'S SAFE. 09:44:12 THERE ARE INTERESTING ISSUES GOING ON WITH YOUR LOAN 09:44:15 GUARANTEES THAT WE WANT TO KEEP PURSUING THE THREE FACILITIES 09:44:19 THAT ARE MOVING FORWARD. WHILE WE STILL HAVE TO ADDRESS, 09:44:27 A NUCLEAR WASTE PORTFOLIO. AND WE'VE GOT TO GET SERIOUS 09:44:29 ABOUT ADDRESSING THIS ISSUE. I'LL TALK ABOUT IT MORE IN MY 09:44:32 QUESTIONS. BUT FOR THE PRESENT, TO HAVE A 09:44:35 BLUE RIBBON COMMISSION THAT EXCLUDES ANY DISCUSSION ABOUT 09:44:38 YUCCA MOUNTAIN IS, IS A FRAUD. SO I THINK YOU PROBABLY HAD SOME 09:44:47 WRITINGS IN THE PAST THAT ALSO ADDRESSED THE IMPORTANCE OF 09:44:52 YUCCA MOUNTAIN. MY TIME IS EXPIRED, MR. 09:44:54 CHAIRMAN, I YIELD BACK. I RECOGNIZED GENTLEMAN FROM 09:44:58 CALIFORNIA, THE RACHKING MEMBER FOR HIS OPENING STATEMENT. 09:45:10 DURING THE LAST YEAR, WE'VE HAD WAKEUP CALL AFTER WAKEUP 09:45:17 CALL, WARNING US WE NEED A NEW ENERGY POLICY. 09:45:20 LAST APRIL, A COAL MINE EXPLOSION IN WEST VIRGINIA 09:45:23 KILLED 29 MINERS, IT WAS THE WORST COAL DISASTER IN 40 YEARS. 09:45:27 THAT SAME MONTH, DEEPWATER HORIZON EXPLODED IN BP'S MOCONDO 09:45:36 WELL, OIL WAS GUSHING INTO THE GULF FOR THREE MONTHS. 09:45:40 NOW THE OIL IS $100 A BARREL BECAUSE THE MIDDLE EAST IS IN 09:45:43 TURMOIL. AND JAPAN FACES POTENTIAL 09:45:45 NUCLEAR MELTDOWNS AT ITS DAMAGED REACTORS. 09:45:50 WE DON'T KNOW YET WHETHER JOIP WILL BE ABLE TO AVOID 09:45:53 CATASTROPHIC RELEASE OF RADIOACTIVE MATERIALS. 09:45:56 WE DON'T KNOW WHAT THE FULL IMPACT WILL BE. 09:46:02 BUT WE SHOULD BE INVESTIGATING THE SAFETY AND PREPAREDNESS OF 09:46:06 THE U.S. FIFLTS. IT SHOULD BE OBVIOUS WE NEED A 09:46:11 NEW ENERGY POLICY THAT PROMOTES CLEAN, SAFE AND AFFORDABLE 09:46:14 ENERGY. WE NEED MORE VEHICLES THAT RUN 09:46:16 ON ELECTRICITY, NATURAL GAS AND RENEWABLE FUELS. 09:46:19 WE NEED MORE WIND AND SOLAR POWER AND WE NEED MORE ENERGY 09:46:23 EFFICIENCY. INSTEAD, WHAT WE HAVE GOTTEN 09:46:25 FROM THE REPUBLICAN-CONTROLLED HOUSE IS PARTISANSHIP. 09:46:30 AND AN ASSAULT ON CLEAN ENERGY, THE REPUBLICAN BUDGET FOR THIS 09:46:34 YEAR, HR 1, WOULD SLASH D.O.E.'S ENERGY EFFICIENCY AND RENEWABLE 09:46:43 ENERGY BUDGET BY 35%. IT WOULD COMPLETELY ELIMINATE 09:46:47 ASSISTANCE TO LOW-INCOME FAMILY WHO IS WANT TO WEATHERIZE THEIR 09:46:51 HOMES OR SAVE ENERGY AND LOWER THEIR UTILITY BILLS. 09:46:55 AND THE REPUBLICAN BUDGET WOULD WIPE OUT D.O.E.'S ABILITY TO 09:46:58 AWARD LOAN GUARANTEES TO WORTHY RENEWABLE ENERGY PROJECTS. 09:47:02 THIS WOULD COST US THOUSANDS OF JOBS. 09:47:07 SOME OF THESE LOAN GUARANTEES, HAVE RECIPIENTS JUST WAITING TO 09:47:12 CLOSE THE DEAL AND NOW THERE WILL BE NO MONEY LEFT FOR THEM. 09:47:15 WHETHER IT'S A SOLAR PROJECT IN CALIFORNIA, A WIND TURBINE PLANT 09:47:20 IN IDAHO, A GEOTHERMAL PROJECT, THE LIST GOES ON. 09:47:27 ALL OF THESE PROJECTS AND ALL OF THESE JOBS ARE ON THE REPUBLICAN 09:47:32 CHOPPING BLOCK. YESTERDAY WE DEBATED A BILL AND 09:47:34 THE REPUBLICANS SAID WE'RE FOR ALL OF THE ABOVE, ENERGY POLICY. 09:47:39 BUT THAT'S NOT WHAT IS IN THEIR BUDGET. 09:47:42 THE REPUBLICAN BUDGET WOULD RESCIND $25 BILLION OF THE $47 09:47:45 BILLION IN LOAN GUARANTEE AUTHORITY PROVIDED BY CONGRESS 09:47:48 IN 2009. THE BILL WOULD PRESERVE THE 09:47:53 ENTIRE $18.5 BILLION IN LOAN GUARANTEES FOR NEW NUCLEAR 09:47:58 REACTORS A $2 BILLION AVAILABLE FOR URANIUM ENRICHMENT 09:48:08 PROJECTS WHILE LEAVING $1.5 BILLION. 09:48:11 THIS IS NOT AN ALL OR THE ABOVE STRATEGY, THIS IS AN ALL-NUCLEAR 09:48:17 STRATEGY. IN CHAIRMAN, INSTEAD OF SPENDING 09:48:19 OUR TIME DEBATING PARTISAN LEGISLATION THAT DENIES SCIENCE 09:48:22 AND GUTS THE CLEAN AIR ACT, WE SHOULD BE WORKING TOGETHER TO 09:48:27 ENCOURAGE CLEAN ENERGY INVESTMENTS THAT WILL CREATE 09:48:31 JOBS IN THE U.S. IT SHOULD NOT TAKE A NUCLEAR 09:48:35 MELTDOWN TO MAKE US FACE REALITY. 09:48:37 WE URGENTLY NEED A NEW ENERGY POLICY AND I HOPE THE TESTIMONY 09:48:42 TODAY FROM SECRETARY CHU AND CHAIRMAN JASCO WILL HELP POINT 09:48:48 THE WAY. I ASK UNANIMOUS CONSENT TO 09:48:53 SUPPLEMENT THE RECORD THE EFFECTS OF THE ECONOMY ON CLEAN 09:48:57 ENERGY JOBS. WITHOUT OBJECTION. 09:49:00 I YIELD NOW TO MR. GREEN. THE GENTLEMAN IS RECOGNIZED. 09:49:03 THANK YOU, MR. CHAIRMAN, FOR HOLDING THE HEARING TODAY ON THE 09:49:07 DEPARTMENT OF ENERGY AND NUCLEAR REGULATORY COMMISSIONS FY 12 09:49:12 PROPOSED BUDGET. I WANT TO THANK SECRETARY CHU 09:49:15 AND CHAIRMAN JASCO, FOR TAKING TIMT TO APPEAR BEFORE OUR 09:49:20 COMMITTEE. I KNOW YOU BOTH ARE EXTREMELY 09:49:22 BUSINESSES IN WORKING WITH JAPAN TO ASSIST THEM WITH THEIR 09:49:26 CURRENT SITUATION. OUR THOUGHTS AND PRAYERS ARE 09:49:28 WITH THE PEOPLE OF JAPAN AND I HOPE THE UNITED STATES CAN 09:49:31 ASSIST THEM IN THEIR TIME OF NEED. 09:49:33 THIS IS TRULY A DEVASTATING DISASTER AND THEY NEED AS MUCH 09:49:36 ASSISTANCE FROM AROUND THE WORLD, SO THEY CAN RECOVER. 09:49:39 AS A MEMBER OF CONGRESS WHO REPRESENTS ONE OF THE LARGEST 09:49:44 ENERGY-PRODUCING AREAS IN THE COUNTRY, AN AREA OF THE COUNTRY 09:49:46 THAT ALSO HAS PERMITS PENDING BEFORE THE OFFICE OF MANAGEMENT 09:49:50 AND BUDGET FOR CONSTRUCTION OF NEW NUCLEAR POWER PLANTS, I'M 09:49:54 INTERESTED IN THE TESTIMONY OF OUR WITNESSES TODAY. 09:49:57 IN 2008, OUR NATION PRODUCED OVER 800 BILLION KILOWATT HOURS 09:50:03 FROM NUCLEAR POWER. JAPAN PRODUCED 245 BILLION. 09:50:06 WE NEED TO STEP BACK AND TAKE A BREATH AND SEE WHAT WE NEED TO 09:50:09 DO PRODUCE CLEAN, ELECTRICITY SAFELY AND AT A REASONABLE COST. 09:50:14 I KNOW THAT'S OUR BOTTOM LINE AND WE NEED TO DO THAT. 09:50:19 PARTICULARLY WITH WHAT HAPPENED IN JAPAN. 09:50:22 I HOPE SECRETARY CHU AND CHAIRMAN JACZKO CAN UPDATE US ON 09:50:26 THE CURRENT SITUATION IN JAPAN AS WELL AS GIVE US INFORMATION 09:50:30 ON THE FY-12 BUDGET AND HOW CONGRESS CAN TAKE THE 09:50:34 LEADERSHIP. WITH THAT, I YIELD BACK MY TIME. 09:50:39 MR. WAXMAN. I DON'T KNOW IF WE'RE 09:50:44 RESERVING ANY BALANCE OF TIME BUT WE'VE EXHAUSTED OUR SPEECHES 09:50:47 FOR THE OPEN. AT THIS TIME I RECOGNIZE 09:50:50 MR. UPTON FOR HIS OPENING STATEMENT. 09:50:52 THANK YOU, MR. CHAIRMAN. WELCOME, MR. SECRETARY. 09:50:56 GIVEN ALL OF THE ENERGY CHALLENGES THE AMERICAN PEOPLE 09:51:00 FACE, THIS HEARING ON DEO AND THE NRC 12 BUDGETS WOULD HAVE 09:51:05 BEEN AN IMPORTANT ONE EVEN IF IT WAS HELD BEFORE THE TRAGEDY IN 09:51:09 JAPAN. GIVEN THE UNFOLDING EVENTS THERE 09:51:12 AND THE IMPACT ON SEVERAL NUCLEAR REACTORS, TODAY'S HEAR 09:51:17 TAKES ON ADDED SIGNIFICANCE. THE MIDST OF A TRAGEDY UNFOLD 09:51:22 HOUR BY HOUR, WE NEED TO ALLOW TIME FOR REFLECTION AND LEARN 09:51:27 FROM THEIR MISTAKES. THIS IS ESPECIALLY TRUE WHEN IT 09:51:31 COMES TO PROPOSALS THAT MAKE PERMANENT CHANGES BASED ON 09:51:35 INCOMPLETE INFORMATION. WE WILL BE HAVING A NUMBER OF 09:51:37 HEARINGS ON THIS ISSUE AS DETAILS UNFOLD AND WE WELCOME 09:51:40 YOUR PARTICIPATION. THIS COMMITTEE IS GOING TO HEAR 09:51:43 THE FACTS AS SOON AS THEY BECOME AVAILABLE. 09:51:46 THAT IS FOR SURE. FOR ME, I LIVE 15 MILES FROM TWO 09:51:50 NUCLEAR POWER PLANTS SO THE SAFETY OF U.S. NUCLEAR 09:51:53 FACILITIES IS NOT AN ISSUE I'VE EVER TAKEN LIGHTLY. 09:51:56 I'M NOT STRAIN FROM MY SUPPORT FOR SAFE, NUCLEAR ENERGY IS A 09:52:00 VITAL COMPONENT OF AMERICA'S PRESENT AND FUTURE ENERGY MIX. 09:52:03 IT IS JUST AS IMPORTANT TO DISPEL OVERSTATED FEARS AS IT IS 09:52:07 TO DISCUSS LEGITIMATE CONCERNS. I KNOW WE CAN BEGIN THE PROCESS 09:52:10 OF DOING BOTH. THE DEPARTMENT OF ENERGY'S 12 09:52:13 BUDGET IS $29.5 BILLION, AN INCREASE OF ALMOST 12%, $3 09:52:20 BILLION FROM CURRENT LEVELS. I SEE AREAS WHERE FUNDING IS 09:52:24 EXCESSIVE AND PERHAPS OTHERS WHERE IT IS INSUFFICIENT. 09:52:26 SPENDING EVEN FOR LAUDABLE GOALS LIKE ENERGY EFFICIENCY OR 09:52:30 DEVELOPING AFFORDABLE ENERGY SOURCES NEEDS TO BE SCRUTINIZED 09:52:35 FOR EFFECTIVENESS. WE HAD A LARGE SCALE REAL WORLD 09:52:38 TEST OF THE MERITS OF THROWING A LOT OF MONEY AT NICE SOUNDING 09:52:42 ENERGY PROJECTS IN THE 2009 STIMULUS. 09:52:45 THE PROGRAM WAS GENEROUS WITH AMERICAN PEOPLE'S TAX DOLLARS, 09:52:49 BUT A SERIES OF DOE INSPECT GENERAL REPORTS ON SPENDING FOR 09:52:54 HOME AND BUILDING WEATHERIZATION PROJECTS FOUND SIGNIFICANT 09:52:58 FLAWS. IN OTHER AREAS, I BELIEVE THE 09:53:00 BUDGET IS INAPPROPRIATELY CHEAP. THIS IS ESPECIALLY THE CASE WITH 09:53:04 REGARD TO FOSSIL FUELS. WISHFUL THINKING ABOUT MAGIC 09:53:08 BULLET ALTERNATIVES IS NOT GOING TO HEAT AND COOL OUR HOMES AND 09:53:11 POWER THE BUSINESSES THAT PROVIDE THE JOBS THAT AMERICA 09:53:14 WANTS. THE REALITY IS WE STILL NEED 09:53:17 FOSSIL FUELS AND WILL CONTINUE TO DO SO FOR THE FORESEEABLE 09:53:21 FUTURE. I DON'T BELIEVE THIS REALITY IS 09:53:23 REFLECTED IN THE BUDGET WHICH CALLS FOR A 44% DECLINE IN 09:53:28 FUNDING. THAT ALONG WITH THE PRESIDENT'S 09:53:30 SUPPORT FOR RAISING TAXES ON DOMESTIC BE OIL AND NATURAL GAS 09:53:35 PRODUCERS IS INDICATIVE FOR A HOSTILITY TO DOMESTIC FOSSIL 09:53:41 FUEL PRODUCTION. BLOCKING YUCCA MOUNTAIN IS PENNY 09:53:44 WISE AND POUND FOOLISH, CONSIDERING WE'VE SPEND $13.5 09:53:49 BILLION AND THE NEED ULTIMATELY TO FIND A REPOSITORY FOR NUCLEAR 09:53:53 WASTE. INSTEAD, PREVENTING THE NEED FOR 09:53:57 INTERIM STORAGE IS ONE WAY OF REDUCING RISK FROM NUCLEAR 09:54:00 ENERGY AND REDUCING RISK IS A MAJOR PART OF THE ENERGY 09:54:04 DISCUSSIONS MOVING FORWARD. THIS COMMITTEE WILL LOOK LONG 09:54:08 AND HARD AT YUCCA MOUNTAIN NOW MORE THAN EVER THE POLITICALLY 09:54:13 BASED POLICIES MUST END. AMERICA DEMANDS SAFE, COMMON 09:54:17 SENSE SOLUTIONS AND I YIELD THE BALANCE OF MY TIME TO CHAIRMAN 09:54:21 EMERITUS, MR. BARTON. THANK YOU, MR. CHAIRMAN. 09:54:24 I CONCUR WITH YOUR STATEMENT. WE WELCOME THE DISTINGUISHED 09:54:28 SECRETARY OF ENERGY AND THE DISTINGUISHED GENTLEMAN FROM THE 09:54:32 NUCLEAR REGULATORY AGENCY. I WAS A WHITE HOUSE FELLOW FOR 09:54:36 JAMES V. EDWARDS. IT'S GOOD TO HAVE THE SECRETARY 09:54:39 OF ENERGY HERE. OBVIOUSLY, WE WANT TO TALK ABOUT 09:54:43 THE BUDGET AND A BIG PART OF THE BUDGET IS GOING TO BE THE $36 09:54:46 BILLION LOAN GUARANTY PROGRAM FOR NUCLEAR ENERGY, BUT IN LIGHT 09:54:50 OF WHAT'S HAPPENED IN JANUARY, WE'RE OBVIOUSLY GOING TO BE 09:54:54 INTERESTED IN YOUR COMMENT ABOUT THE SAFETY AND THE NRC'S SAFETY 09:54:58 OF OUR EXISTING NUCLEAR REACTORS AND THE NEW REACTORS BEGINNING 09:55:03 TO BE PERMITTED AND HOPEFULLY BUILT IN OUR NATION. 09:55:06 I CONTINUE TO BE A STRONG SUPPORTER OF NUCLEAR ENERGY, AND 09:55:11 I HOPE THAT YOU AND THE PRESIDENT ALSO CONTINUE TO DO 09:55:17 SO. I NOTICED YOUR SUPPORT FOR A 09:55:18 CLEAN ENERGY STANDARD. I'M NOT SURE, MR. SECRETARY, 09:55:21 THAT WE NEED ANY KIND OF ENERGY STANDARD FOR AMERICA. 09:55:26 BUT I THINK MYSELF AND OTHERS MAY BE WILLING TO LOOK AT IT. 09:55:30 OBVIOUSLY, IT DEPENDS ON WHAT THE DEFINITION OF CLEAN IS. 09:55:33 I THINK ANY DEFINITION SHOULD INCLUDE CLEAN COAL, NUCLEAR AND 09:55:39 NATURAL GAS. WITH THAT, I YIELD BACK TO THE 09:55:42 CHAIRMAN OR YIELD BACK TO THE SUBCOMMITTEE CHAIRMAN. 09:55:45 THANK YOU VERY MUCH, MR. BARTON. 09:55:48 BECAUSE OF THE FACT THAT MR. RUSH DID NOT USE ALL OF HIS 09:55:52 TIME AND HAD TWO MINUTES LEFT, I AM GOING TO RECOGNIZE MR. RUSH 09:55:55 FOR AN ADDITIONAL TWO MINUTES. THANK YOU, MR. CHAIRMAN. 09:56:00 MR. CHAIRMAN, I YIELD TWO MINUTES TO MR. MACKIE. 09:56:04 THANK YOU, MR. RUSH. RIGHT NOW, A FEW DOZEN BRAVE 09:56:08 SOULS ARE FIGHTING A NUCLEAR MELTDOWN WITH WATER TRUCKS. 09:56:12 WE SEND OUR PRAYERS TO THOSE HEROES AND TO THE PEOPLE OF 09:56:17 JAPAN. THE EFFECTS OF THIS DISASTER 09:56:19 HAVE RIPPLED THROUGH THE WORLD, CHINA, VENEZUELA AND OTHER 09:56:24 COUNTRIES ARE SHUTTING DOWN OLDER PLANTS AND SCRAPPING PLANS 09:56:27 FOR NEW ONES. WE TOO NEED A SEISMIC SHIFT IN 09:56:32 OUR APPROACH TO NUCLEAR REACTOR SAFETY. 09:56:34 I FEAR WE ARE NOT MOVING FAST ENOUGH TO TAKE THESE IMPORTANT 09:56:38 STEPS. JUST YESTERDAY, THE DEPARTMENT 09:56:40 OF HEALTH AND HUMAN SERVICES ANNOUNCED IT WOULD STUDY THE 09:56:43 DISTRIBUTION OF POTASSIUM IODINE PILL THAT'S BEING DISTRIBUTED TO 09:56:50 U.S. MILITARY PEOPLE AND JAPANESE PEOPLE IN THE REGION. 09:56:53 IT HAS BEEN 32 YEARS SINCE THE COMMISSION THAT INVESTIGATED 09:57:00 THREE MILE ISLAND RECOMMENDED IT. 09:57:02 IT'S BEEN TEN YEARS SINCE THE NUCLEAR REGULATORY COMMISSION 09:57:06 BEGAN MAKING POTASSIUM IODINE AVAILABLE WITHIN TEN MILES OF A 09:57:11 NUCLEAR REACTOR. IT'S BEEN NINE YEARS SINCE THIS 09:57:13 COMMITTEE PASSED MY LAW TO EXPAND THE DISTRIBUTION ZONE OF 09:57:19 THESE PILLS FROM TEN MILES TO 20 MILES AWAY FROM THE REACTOR. 09:57:22 IT HAS BEEN SEVEN YEARS SINCE THE NATIONAL ACADEMY OF SCIENCES 09:57:26 ENDORSED ITS USE, AND YET TWO ADMINISTRATIONS HAVE IGNORED THE 09:57:30 LAW. WE DON'T NEED TO STUDY THESE 09:57:32 PILLS TO KNOW THAT THEY CAN PREVENT CANCER. 09:57:36 I BELIEVE THAT THE OBAMA ADMINISTRATION SHOULD 09:57:40 IMMEDIATELY IMPLEMENT MY LAW FROM SEVEN YEARS AGO, HAVING IT 09:57:47 BE DISTRIBUTED WITHIN A 20 MILE R 09:57:54 RADIUS. OUR ECONOMY CRUMBLED BECAUSE 09:57:56 WALL STREET TOOK HIGH RISK INVESTMENTS AND TRANSFORMED THEM 09:58:01 INTO SAFE LOOKING BOBDS. AS THEUNDER LYING SUB PRIME 09:58:05 LOANS DEFAULTED, THESE TURNED INTO TOXIC ASSETS THAT NOBODY 09:58:10 WANTED, SO PRESIDENT BUSH CREATED THE TOP PROGRAM. 09:58:16 JUST LIKE A TOXIC ASSET, LITERALLY AND FINANCIALLY 09:58:20 GUARANTIED BY THE FEDERAL TAXPAYERS, IF SOMETHING GOES 09:58:24 WRONG. THE INDUSTRY WILL BE OKAY 09:58:26 FINANCIALLY, THE TAXPAYERS WILL BE LEFT. 09:58:29 WE HAVE ALREADY KNOWN WHAT HAPPENS WHEN THE TAXPAYER HAS TO 09:58:31 PICK UP THE TAB WHEN THINGS GO WRONG. 09:58:35 WE SHOULD BE VERY CAREFUL FROM THIS MOMENT ON. 09:58:37 THANK YOU, MR. MARKEY. AT THIS TIME, SECRETARY CHU, WE 09:58:42 RECOGNIZE YOU FOR YOUR OPENING STATEMENT. 09:58:44 LOOK FORWARD TO YOUR TESTIMONY. THANK YOU, CHAIRMAN 09:58:49 WHITFIELD, THANK CHAIRMAN UPTON, RANKING MEMBER WAXMAN, 09:58:52 MR. BARTON, MR. DINGO, I DON'T SEE IS HERE AND ALL THE MEMBERS 09:58:59 OF THE COMMITTEE. THANK YOU FOR THE OPPORTUNITY TO 09:59:02 DISCUSS THE PRESIDENT'S FISCAL 10:00 10:00:00 INCLUDING DETECTERS, EQUIPMENT USED TO PROVIDE ASSESSMENTS OF 10:00:03 CONTAMINATION ON THE GROUND. IN TOTAL THE DOE TEAM INCLUDES 10:00:07 39 PEOPLE WITH MORE THAN 1700 POUNDS OF EQUIPMENT. 10:00:11 THE DEPARTMENT IS MONITORING ACTIVITIES THROUGH THE NUCLEAR 10:00:14 INCIDENT TEAM. AS EMPLOYING ASSETS TO PROVIDE 10:00:19 ONGOING PREDICTIVE MODELING E CAPABILITIES BASED ON A VARIETY 10:00:26 OF SCENARIOS. THE AMERICAN PEOPLE SHOULD HAVE 10:00:27 FULL CONFIDENCE THAT THE UNITED STATES HAS A RIGOROUS SAFETY 10:00:29 REGULATION IN PLACE TO ENSURE THAT OUR NUCLEAR POWER IS 10:00:33 GENERATED SAFELY AND RESPONSIBLY. 10:00:35 INFORMATION IS STILL COMING IN ABOUT THE EVENTS UNFOLDING IN 10:00:38 JAPAN, BUT THE ADMINISTRATION IS COMMITTED TO LEARNING FROM 10:00:42 JAPAN'S EXPERIENCE AS WE WORK TO CONTINUE TO STRENGTHEN AMERICA'S 10:00:46 NUCLEAR INDUSTRY. SAFETY REMAINS AT THE FOREFRONT 10:00:49 OF OUR EFFORT TO RESPONSIBLY DEVELOP AMERICA'S ENERGY 10:00:53 RESOURCES. WE WILL CONTINUE TO INCORPORATE 10:00:55 THE BEST PRACTICES AND LESSONS LEARNED IN THAT PROCESS. 10:00:58 TO MEET OUR ENERGY NEEDS, THE ADMINISTRATION BELIEVES WE NEED 10:01:03 TO RELY ON A DIVERSE SET OF ENERGY SOURCES INCLUDING 10:01:06 RENEWABLES LIKE WIND AND SOLAR, NATURAL GAS, CLEAN COAL AND 10:01:10 NUCLEAR POWER. WE LOOK FORWARD TO A CONTINUED 10:01:13 DIALOGUE WITH CONGRESS IN MOVING THAT AGENDADA FORWARD. 10:01:15 I WOULD LIKE TO TURN TO THE BUDGET NOW. 10:01:19 PRESIDENT OBAMA HAS A PLAN TO WIN THE FUTURE BY OUTINNOVAING 10:01:25 THE REST OF THE WORLD WITH WHILE AT THE SAME TIME ADDRESSING THE 10:01:29 DEFICIT. THE PRESIDENT'S BUDGET MAKES 10:01:31 TOUGH CHOICES AND CUTTING IN MANY AREAS WHILE RES RECOGNIZING 10:01:35 WE MUST INVEST IN STRATEGIC AREAS THAT WILL CREATE JOBS AND 10:01:40 STRENGTHEN COMPETITIVENESS. TO THAT END, PRESIDENT OBAMA HAS 10:01:45 CALLED FOR INVESTMENT IN CLEAN ENERGY DEPLOYMENT. 10:01:48 HE PROPOSED A BOLD BUT ACHIEVABLE GOAL OF GENERATING 10:01:56 80% OF CLEAN ENERGY BY 2035. CLEAN LONG TERM SIGNAL TO 10:02:02 INDUSTRY TO BRING CAPITAL OFF THE SIDELINES AND INTO THE CLEAN 10:02:06 ENERGY SECTOR. THE GOVERNMENT DOES NOT NEED TO 10:02:08 PICK FAVORITES. THE MOST COMPETITIVE CLEAN 10:02:10 ENERGY SOURCES WILL WIN IN THE MARKETPLACE. 10:02:14 DEPARTMENT OF ENERGY'S BUDGET REQUESTS A $29.5 MILLION BUDGET. 10:02:20 DEFENSE ARE RELATED ACTIVITIES, CLEANING UP THE WAR SITES 10:02:26 ACCOUNT FOR HALF OF THAT BUDGET. THE OTHER HALF WHICH INCLUDES 10:02:29 ENERGY AND SCIENCE PROGRAMS ARE CRITICAL, NATIONAL SECURITY IN 10:02:33 ADDITION TO ECONOMIC COMPETITIVENESS. 10:02:36 THROUGH ENERGY EFFICIENCY PROGRAMS WILL SAVE MONEY FOR 10:02:38 CONSUMERS BY SAVING ENERGY. IN ADDITION, THE BUDGET SUPPORTS 10:02:42 THE RESEARCH AND DEPLOYMENT OF RENEWABLE ENERGY AND THE 10:02:47 ADVANCEMENT OF CARBON CAPTURE AND SEQUESTRATION TECHNOLOGIES 10:02:51 AND HELPS REDUCE OUR DEPENDENCE ON OIL BY DEVELOPING THE JEKS 10:02:56 GENERATION OF BIOFUELS. THE BUDGET SUPPORTS LOANS FOR 10:03:02 RENEWABLES AND ENERGY EFFICIENCY TECHNOLOGIES. 10:03:04 NUCLEAR ENERGY HAS AN IMPORTANT ROLE TO PLAY IN OUR ENERGY 10:03:08 PORTFOLIO. THE BUDGET REQUESTS UP TO 36 10:03:10 BILLION IN LOAN GUARANTY AUTHORITY TO HELP DEPLOY A NEW 10:03:14 GENERATION OF AMERICAN NUCLEAR REACTORS. 10:03:20 THE BUDGET INVESTS IN BASIC AND APPLIED RESEARCH AND KEEPS US ON 10:03:24 A PATH OF DOUBLING FUNDING FOR THESE SCIENTIFIC AGENCIES 10:03:28 INCLUDING THE OFFICE OF SCIENCE. THE BUDGET INVESTS 550 MILLION 10:03:34 IN ENERGY, THE ADMINISTRATION ALSO SEEKS AN ADDITIONAL 100 10:03:37 MILLION FOR RB AS PART OF THE PRESIDENT'S WIRELESS INNOVATION 10:03:41 AND INFRASTRUCTURE INITIATIVE. THIS INVESTMENT WILL ALLOW RBE 10:03:46 TO CONTINUE THE PROMISING EARLY STAGE RESEARCH PROJECTS THAT AIM 10:03:49 TO DELIVER GAME CHANGING CLEAN ENERGY TECHNOLOGIES. 10:03:55 ANOTHER KEY PIECE OF OUR RESEARCH EFFORT IS THE ENERGY 10:03:57 INNOVATION HUBS. THE HUBS BRING TOGETHER OUR 10:03:59 NATION'S TOP SCIENTISTS AND ENGINEERS TO ACHIEVE SIMILAR 10:04:02 GAME CHANGING GOALS. WE ARE A CONCENTRATED EFFORT 10:04:05 OVER A LONGER TIME IS NEEDED TO ESTABLISH INNOVATION LEADERSHIP. 10:04:11 THE BUDGET REQUESTS $146 MILLION TO SUPPORT THREE EXISTING HUBS 10:04:17 AND TO ESTABLISH THREE NEW HUBS. THE BUDGET SUPPORTS THE ENERGY 10:04:20 RESEARCH FRONTIER CENTERS WORKING TO SOLVE SCIENTIFIC 10:04:25 PROBLEMS BLOCKING CLEAN ENERGY DEVELOPMENT. 10:04:28 TO REACH OUR ENERGY GOALS, WE MUST TAKE A PORTFOLIO APPROACH, 10:04:32 PURSUING SEVERAL RESEARCH STRATEGIES THAT HAVE PROVEN TO 10:04:34 BE SUCCESSFUL IN THE PAST. THIS IS NOT A SICHEN SINK 10:04:39 APPROACH. THIS WORK IS BEING COORDINATED 10:04:41 WITH A 360 DEGREE VIEW OF HOW THE PIECES FIT TOGETHER. 10:04:49 IN ADDITION TO STRENGTHENING OUR ECONOMY, THE BUDGET REQUEST ALSO 10:04:54 STRENGTHENS OUR SECURITY BY PROVIDING $11.8 BILLION FOR THE 10:04:59 NATIONAL SECURITY ADMINISTRATION. 10:05:01 THE DEPARTMENT IS MINDFUL OF OUR RESPONSIBILITY TO THE TAXPAYER. 10:05:07 WE'RE CUTTING BACK IN MULTIPLE AREAS INCLUDING ELIMINATING 10:05:11 UNNECESSARY FOSSIL FUEL. WE'RE FREEZING SALARIES FOR 10:05:18 HARD-WORKING LABORATORY SITE AND FAST CONTRACTOR EMPLOYEES. 10:05:22 THE UNITED STATES FACES AA CHOICE TODAY. 10:05:24 WILL WE OUTCOMPETE THE REST OF THE WORLD OR WILL WE FALL 10:05:27 BEHIND? TO LEAD THE WORLD IN CLEAN 10:05:29 ENERGY, WE MUST ACT NOW. CAN'T AFFORD NOT TO. 10:05:32 THANK YOU NOW AND I'M PLEASED TO ANSWER ANY QUESTIONS YOU MAY 10:05:37 HAVE. THANK YOU, SECRETARY CHU. 10:05:40 BECAUSE OF THE EVENT IN JAPAN, AND CHERNOBYL AND THREE MILE 10:05:58 ISLAND, IT'S MY UNDERSTANDING THAT THE INTERNATIONAL ATOMIC 10:06:05 ENERGY AGENCY HAS A RADIOLOGICAL EVENT SCALE. 10:06:10 ON THAT SCALE, THE EVENT THAT OCCURRED IN JAPAN WAS AT A LEVEL 10:06:14 FOUR. IT'S MY UNDERSTANDING THAT THREE 10:06:19 MILE ISLAND WAS A LEVEL FIVE, WHICH, ACCORDING TO THE 10:06:23 INTERNATIONAL ATOMIC ENERGY AGENCY WOULD HAVE BEEN MORE 10:06:26 SERIOUS THAN EVEN WHAT IS IN JAPAN IS THE INFORMATION THAT I 10:06:30 HAVE. MY QUESTION IS I READ AN ARTICLE 10:06:34 RECENTLY ABOUT THREE MILE ISLAND AND IT SAID THAT A PERSON 10:06:38 STANDING AT THE PROPERTY LINE OF THREE MILE ISLAND DURING THAT 10:06:41 EVENT WOULD HAVE RECEIVED A DOSE OF RADIATION EQUIVALENT TO 10:06:45 BETWEEN A CHEST X-RAY AND A CAT SCAN. 10:06:52 MY QUESTION, AS A LAYMAN, THAT DOES NOT SOUND LIKE A LOT OF 10:06:58 EXPOSURE, PARTICULARLY WHEN YOU CONSIDER THIS WOULD BE A LEVEL 10:07:01 FIVE. I WAS JUST CURIOUS, ARE YOU 10:07:04 AWARE OF THAT KIND OF EXPOSURE AT THREE MILE ISLAND OR DO YOU 10:07:07 HAVE ANY ADDITIONAL INFORMATION ON THAT? 10:07:11 MY KNOWLEDGE OF THREE MILE ISLAND ACTUALLY COMES FROM AN 10:07:15 NRC REPORT THAT WAS ISSUED. I DON'T KNOW EXACTLY WHEN BUT 10:07:19 LATER AFTER THE ANALYSIS HAD BEEN DONE. 10:07:21 WHAT I REMEMBER IS WITHIN A 20 MILE OR SO RADIUS, THAT THE 10:07:26 AVERAGE EXPOSURE OF THOSE PEOPLE CLOSEST TO THREE MILE ISLAND WAS 10:07:31 A VERY SMALL FRACTION OF BACKGROUND RADIATION. 10:07:34 COULD HAVE BEEN ON A SCALE OF 1% OR LESS. 10:07:36 THAT'S WHAT I RECALL. YOU KNOW, I THINK THAT'S 10:07:40 IMPORTANT THAT WE TALK ABOUT THAT, BECAUSE OBVIOUSLY, SAFETY 10:07:44 IS AN IMPORTANT ISSUE. WE DON'T WANT THE AMERICAN 10:07:48 PEOPLE TO BE PANICKED ABOUT ANY OF THIS. 10:07:52 DID YOU HAVE AN ADDITIONAL COMMENT YOU WERE GOING TO MAKE? 10:07:56 YES, I DO. I THINK THE EVENTS UNFOLDING IN 10:08:01 JAPAN INCIDENTS ACTUALLY APPEAR TO ME MORE SERIOUS THAN THREE 10:08:07 MILE ISLAND. TO WHAT EXTENT, WE DON'T KNOW. 10:08:10 AS THEY'RE UNFOLDING VERY RAPIDLY ON AN HOUR BY HOUR, DAY 10:08:13 BY DAY BASIS, THERE ARE CONFLICTING REPORTS. 10:08:16 WE DON'T REALLY KNOW IN DETAIL WHAT'S HAPPENING. 10:08:19 THIS IS ONE OF THE REASONS WHY THE DEPARTMENT OF ENERGY, THE 10:08:23 NRC ARE THERE. WE HAVE BOOTS ON THE GROUND, 10:08:26 DETECTERS IN THE GROUND, NOT ONLY TO HELP ASSIST JAPANESE 10:08:30 POWER COMPANY AND JAPANESE GOVERNMENT, BUT FOR OUR OWN SAKE 10:08:35 TO KNOW WHAT IS REALLY HAPPENING DIRECTLY THROUGH OUR OWN 10:08:39 INSTRUMENTS. THE U.S. GOVERNMENT IS 10:08:40 OFFERING ANY AND ALL ASSISTANCE THAT HAS BEEN REQUESTED? 10:08:43 THAT IS CORRECT. NOW, JUST TO TOUCH ON YUCCA 10:08:49 MOUNTAIN FOR A MOMENT, IT'S MY UNDERSTANDING THAT THE 10:08:51 DEPARTMENT OF ENERGY OR THE U.S. GOVERNMENT HAD ENTERED INTO 10:08:53 CONTRACTS WITH THE NUCLEAR POWER PLANTS IN THE U.S. TO TAKE THEIR 10:08:58 WASTE MATERIAL FROM THE OPERATION OF THEIR REACTORS AND 10:09:02 BECAUSE YUCCA MOUNTAIN HAS NOT BEEN COMPLETED, THAT LAWSUITS 10:09:06 WERE EVENTUALLY FILED BY THE INDUSTRY AGAINST THE FEDERAL 10:09:10 GOVERNMENT FOR VIOLATION OF THAT CONTRACT. 10:09:13 IS THAT THE CASE? THAT IS THE CASE. 10:09:16 DO YOU KNOW WHAT THE TOTAL AMOUNT OF JUDGMENTS AGAINST THE 10:09:20 U.S. GOVERNMENT IS AS OF TODAY? I DON'T EXACTLY RECALL. 10:09:26 THERE HAVE BEEN SOME JUDGMENTS. THEY'RE CERTAINLY NONTRIVIAL. 10:09:35 THESE ARE SETTLEMENTS SO THAT THE MONEY COULD BE USED BY THE 10:09:39 INDUSTRY TO HELP STORE THE WASTE ON THEIR OWN SITES. 10:09:42 I DON'T KNOW IF MY INFORMATION IS CORRECT, BUT I'VE 10:09:45 BEEN TOLD IT WAS IN THE NEIGHBORHOOD OF 10 OR $12 10:09:48 BILLION IN JUDGMENTS ALREADY. DOES THAT SOUND IN THE 10:09:52 NEIGHBORHOOD TO YOU? I DON'T KNOW. 10:09:57 IT'S CERTAINLY OVER A BILLION. I DON'T KNOW WHERE MY STAFF IS. 10:10:00 WE CAN FOLLOW UP. WE'LL GET YOU THE EXACT 10:10:04 NUMBER. I'M ASSUMING THIS IS AN 10:10:06 ONGOING LEGAL ACTION BECAUSE OF YUCCA MOUNTAIN NOT BEING 10:10:10 COMPLETED. IS THAT CORRECT? 10:10:11 NOT SPECIFICALLY YUCCA MOUNTAIN NOT BEING COMPLETED. 10:10:15 IT'S A LEGAL ACTION IN THE SENSE THAT WE HAVE A RESPONSIBILITY TO 10:10:21 PROVIDE FOR THE STORAGE OF THE NUCLEAR WASTE AND AS WE EXCEED 10:10:27 THAT, WHAT HAPPENS IS, AND THE NRC HAS DETERMINED THAT DRY CAST 10:10:31 STORAGE AT THE SITE IS A SAFE PROCEDURE FOR AT LEAST A HALF 10:10:37 CENTURY, BUT WE WILL BE STILL OBLIGATED TO REIMBURSE THE 10:10:40 COMPANIES. WE DON'T HAVE THE CAPABILITY 10:10:42 TO TAKE CARE OF IT RIGHT NOW. EXACTLY. 10:10:44 MY LAST QUESTION, THIS WOULD JUST NOT BE A QUESTION BUT ASK 10:10:48 FOR INFORMATION. WOULD YOUR STAFF BE ABLE TO 10:10:50 PROVIDE ME INFORMATION ON THE DOLLAR VALUE OF LOANS, LOAN 10:10:56 GUARANTIES AND/OR GRANTS THAT THE DEPARTMENT OF ENERGY MAY BE 10:11:01 MAKING FOR WIND AND SOLAR PROJECTS IN THE U.S. 10:11:04 YES, WE WOULD BE ABLE TO. IN THE SENSE OF THE ONES WE'VE 10:11:09 OFFERED CONDITIONAL COMMITMENTS OR HAVE CLOSED. 10:11:11 THANK YOU. AT THIS TIME, I RECOGNIZE THE 10:11:14 GENTLEMAN FROM ILLINOIS FOR FIVE MINUTES. 10:11:17 THANK YOU, MR. CHAIRMAN. MR. SECRETARY, IT'S GOOD TO SEE 10:11:21 YOU AGAIN BEFORE THE COMMITTEE. I'M GOING TO GET MY QUESTION 10:11:30 ABOUT JAPAN ASKED AND OVER WITH. FIRST QUESTION I HAVE. 10:11:40 AS FAR AS SECURITY, CAN YOU ASSURE THE MEMBERS OF THIS 10:11:48 COMMITTEE, THE AMERICAN PUBLIC THAT WHAT HAPPENED IN JAPAN 10:11:56 CANNOT HAPPEN HERE IN AMERICA AT ANY OF OUR NUCLEAR POWER PLANTS? 10:12:03 WE ARE GOING TO BE LOOKING VERY, VERY CLOSELY AT THE EVENTS 10:12:07 HAPPENING IN JAPAN AND TAKE THOSE LESSONS AND YOU CAN BE 10:12:12 ASSURED THAT WITH THE NRC LEADING, BUT THE DEPARTMENT OF 10:12:19 ENERGY PROVIDING ANY ASSISTANCE TO LOOK AGAIN AT THE CURRENT 10:12:22 EXISTING NUCLEAR POWER PLANTS AND ANY THAT ARE BEING 10:12:25 CONSIDERED FOR DESIGN, TO LOOK VERY HARD AND SEE HOW ONE CAN, 10:12:31 IF POSSIBLE, UPGRADE THE SECURITY. 10:12:34 WE DON'T BELIEVE THERE IS ANY DANGER, BUT IN ANY INCIDENT LIKE 10:12:41 THIS, WHEN THERE ARE TRULY UNFORTUNATE EVENTS LIKE WHAT 10:12:44 WE'RE SEEING IN JAPAN, WHAT WE DO IS WE LOOK AND LEARN FROM 10:12:49 THAT. THIS IS TRUE OF ALL THE 10:12:52 TECHNOLOGY, TRANSPORTATION TECHNOLOGIES, ENERGY TELLING 10:12:55 KNOWLEDGES, YOU NAME IT. WE WILL BE LOOKING VERY 10:12:58 CAREFULLY AND GATHERING WHATEVER LESSONS THAT CAN BE LEARNED FROM 10:13:01 THAT DOUBLE DISASTER OF THE FOURTH LARGEST EARTHQUAKE IN 10:13:05 RECORDED HISTORY AND HUGE TSUNAMI, SO WE WILL TAKE THOSE 10:13:10 LESSONS AND APPLY THEM TO ALL THE NUCLEAR FACILITIES WE HAVE 10:13:14 IN THE UNITED STATES, NOT ONLY EARTHQUAKES, BUT VIOLENT STORMS, 10:13:20 EVERYTHING. ANYTHING THAT COULD AFFECT THEM. 10:13:23 I'VE BEEN TOLD, MR. SECRETARY, THAT AS FAR AS 10:13:30 NATURAL DISASTERS, THAT IT WOULD BE FAIRLY DIFFICULT TO HAVE 10:13:40 REPEATED WHAT HAPPENED IN JAPAN HAPPEN HERE IN AMERICA AS FAR AS 10:13:46 NATURAL MANMADE DISASTERS. I'VE ALSO BEEN TOLD THAT OUR 10:13:48 NUMBER ONE THREAT TO OUR NUCLEAR FACILITIES IS TERRORISM. 10:13:56 THAT IS REALLY WHAT WE SHOULD ALSO KEEP OUR SHARP EYE ON, THE 10:14:02 THREATS OF TERRORISM TO OUR NUCLEAR FACILITIES. 10:14:06 CAN YOU EXPOUND ON WHAT THE LEVEL OF ACTIVITY AT THE DOE AND 10:14:11 YOU HAVE COMMITTED AND WHAT ARE YOUR PLANS FOR COUNTERING ANY 10:14:20 TERRORISTIC ATTACK THAT MIGHT WIND UP HAVING THE SAME RESULTS 10:14:24 OR EVEN DIFFERENT RESULTS? WELL, ALL THE CIVILIAN 10:14:25 NUCLEAR FACILITIES ARE TASKED TO HAVE VERY HIGH SECURITY 10:14:33 MEASURES. I CAN CERTAINLY VOUCH FOR THE 10:14:36 DEPARTMENT OF ENERGY NUCLEAR FACILITIES. 10:14:38 THEY HAVE EXTRAORDINARILY HIGH S 10:14:42 SECURITY MEASURES. I WOULD RATHER SAY WHETHER 10:14:46 TERRORISM OR NATURAL DISASTERS IS HIGHER OR LOWER, WE AT THE 10:14:51 NRC ARE VERY FOCUSED ON ACTUAL LIE PREVENTING EITHER FROM 10:14:57 HAPPENING. I'M GOING TO SHIFT THE 10:15:01 DIRECTION. SECTION 1425 OF HR-1, THE 10:15:05 REPUBLICAN PROPOSED CONTINUED RESOLUTION PLAN WILL RESCIND 25 10:15:08 BILLION OF THE 47 BILLION IN DOE'S LOAN GUARANTY PROGRAM 10:15:13 UNDER TITLE 17 WHICH INCLUDES FUNDING FOR RENEWABLE ENERGY AND 10:15:16 ENERGY EFFICIENCY PROJECTS. CAN YOU SPEAK ON THE IMPACT OF 10:15:21 CUTTING FUNDS FOR RENEWABLE SOURCES OF ENERGY UNDER THE DOE 10:15:27 PROGRAM? HOW IMPORTANT IS IT THAT WE 10:15:30 INVEST IN RENEWABLE SOURCES OF ENERGY? 10:15:32 YES, IN OUR BUDGET REQUEST, WE ASK FOR ADDITIONAL FUNDS TO 10:15:36 HELP 170 FIVE LOAN GUARANTIES BUT EXPANDED AUTHORITY SO WE CAN 10:15:42 INVEST IN ENERGY EFFICIENCY TECHNOLOGIES AS WELL, BECAUSE 10:15:45 ENERGY NOT USED IS MONEY SAVED, ENERGY SAVED. 10:15:51 WITHOUT THAT ADDITIONAL LOAN GUARANTY AUTHORITY, MANY OF 10:15:57 THE PROJECTS THAT WOULD ALSO HELP UNLEASH PRIVATE CAPITAL AND 10:16:00 BRING THAT OFF TO THE SIDELINES WE'RE AFRAID WOULD NOT GO 10:16:04 FORWARD. THAT WOULD MEAN SIGNIFICANT 10:16:06 DECREASE IN THE JOB CREATION GOING FORWARD. 10:16:11 THAT WOULD MEAN -- IT WOULD REALLY SETBACK WHAT WE'RE TRYING 10:16:14 TO DO BOTH IN STARTING OUR ECONOMY AND ALSO, QUITE FRANKLY, 10:16:20 IN HAVING DEVELOPMENT SOURCE THAT WOULD GIVE A SIGNAL TO 10:16:24 INDUSTRIES IN THE UNITED STATES TO BE DEVELOPING THESE NEW 10:16:29 SOURCES. WE WANT TO GIVE THAT SIGNAL 10:16:31 BECAUSE IT'S A COMPETITIVE WORLD OUT THERE. 10:16:33 THERE'S GOING TO BE A RACE IN WHO DEVELOPS THESE TECHNOLOGIES 10:16:38 THAT WILL BE ABANDONED WORLDWIDE. 10:16:40 THANK YOU. AT THIS TIME, I RECOGNIZE THE 10:16:43 GENTLEMAN FROM MICHIGAN FOR HIS QUESTIONS. 10:16:47 THANK YOU, MR. CHAIRMAN. I HAVE A NUMBER OF QUESTIONS AND 10:16:50 I'LL ABIDE BY THE FIVE MINUTE RULE. 10:16:53 I MUST SAY THAT I HAVE THE SAME COMPLAINT WITH YOU AS I MAY HAVE 10:16:57 WITH YOUR PREDECESSORS, AT LEAST I THINK I HAVE A COMPLAINT WITH 10:17:01 YOU. THAT IS FROM TIME TO TIME, WE 10:17:04 HEAR THE DEPARTMENT GIVE ITS ESTIMATES AND AT LEAST WHEN I 10:17:08 HEAR THEM, I WONDER IF WE'RE NOT GOING TO HIT THEM BY THE END OF 10:17:13 THE WEEK AND NOT BY MEMORIAL DAY. 10:17:15 LAST WEEK, I HEARD A NATIONAL REPORT THAT THE DEPARTMENT WAS 10:17:20 INDICATING THAT THEY THOUGHT GAS PRICES WOULD BE $3.70 BY 10:17:27 MEMORIAL DAY. THE PARTICULAR GAS STATION I WAS 10:17:29 PASSING THAT DAY GOING INTO THE OFFICE FROM NORTHERN VIRGINIA 10:17:33 WAS ALREADY AT $3.89. IT'S HIGHER THAN THAT IN A LOT 10:17:37 OF PLACES AROUND THE COUNTRY. "USA TODAY" HAD A HEADLINE, MUST 10:17:42 BE ABOUT A MONTH AGO, WILL GAS PRICES HIT $5 BY THE 4th OF 10:17:50 JULY. I LOOK AT THE ESTIMATES SHOWING 10:17:52 AS WE ALL KNOW, WE GET A THIRD OF OUR OIL FROM THE GULF, A 10:17:57 QUARTER OF A MILLION BARRELS LESS PER DAY THAN WE WERE 10:18:03 GETTING A NUMBER OF MONTHS AGO. WHEN YOU LOOK AT '09-12, THE DOE 10:18:11 INDICATES WE'RE GOING TO GET 450 MILLION BARRELS LESS PER DAY IN 10:18:15 '12 THAN WE GOT IN '09. AS ONE THAT BELIEVES IN SUPPLY 10:18:19 AND DEMAND. I SEE ALASKA HAS CONTINUED 10:18:23 DECLINES IN PRODUCTION. WHERE DO YOU THINK WE REALLY 10:18:27 WILL BE? THIS WAS AGAIN, BEFORE LIBYA, 10:18:29 BEFORE EGYPT, BEFORE ALL THE DIFFERENT THINGS WERE HAPPENING 10:18:32 IN THE MIDDLE EAST. WHERE DO YOU THINK WE'RE GOING 10:18:35 TO BE IN GAS PRICES, SOMETHING ON EVERY CONSUMER'S OR EVERY 10:18:40 HOUSEHOLD'S MIND ACROSS THE COUNTRY? 10:18:43 WELL, THERE'S AN OFFICIAL EIA PREDICTION AS YOU MENTIONED. 10:18:49 THEY MUST BE CAREER BUREAUCRATS. 10:18:54 THEY'RE THERE WHETHER IT'S REPUBLICAN OR DEMOCRATIC 10:18:57 ADMINISTRATION. IT'S ACTUALLY AN INDEPENDENT 10:18:59 ARM. IT IS? 10:19:00 IT'S INDEPENDENT OF ANY POLITICAL INFLUENCE, BUT IN ANY 10:19:07 CASE, CERTAINLY THE GAS PRICES IN WASHINGTON, D.C. ARE HIGHER 10:19:10 THAN THE AVERAGE IN THE COUNTRY. THE GAS PRICES IN CALIFORNIA. 10:19:13 I SEE THOSE SAME PRICES IN .MICHIGAN. 10:19:17 THEY WERE $3.80 THIS WEEK IN MICHIGAN. 10:19:19 I DON'T KNOW WHAT THE GAS PRICES ARE GOING TO BE THIS 10:19:24 SUMMER. THE MEAN PROJECTION IS $3.70 AS 10:19:28 YOU SAID. THERE ARE LARGE UNCERTAINTIES. 10:19:31 WE DON'T REALLY KNOW. I DON'T HAVE ANY BETTER CRYSTAL 10:19:37 BALL THAN YOU DO ON THAT. IN TERMS OF THE OIL PRODUCTION 10:19:44 IN THE UNITED STATES, AGAIN, THERE'S FIRST YOU WERE TALKING 10:19:50 ABOUT THE OIL PRODUCTION IN THE GULF OF MEXICO AND WHAT'S GOING 10:19:53 TO BE PROJECTED. I BELIEVE YOU WERE TALKING ABOUT 10:19:56 THIS IS WHAT WAS HAPPENING BECAUSE THERE WAS A SUSPENSION 10:20:01 FOR AWHILE IN THE DEEP WATER EXPLORATION, THE OIL PRODUCTION 10:20:05 IN THE GULF HAS CONTINUED. THE SHALLOW WATER EXPLORATION 10:20:09 HAS CONTINUED, BUT THE DEEP WATER PERMITTING HAS BEGUN 10:20:13 AGAIN. IF YOU LOOK AT THE ACTUAL 10:20:15 PRODUCTION LEVELS, THEY'RE DOWN FROM THE PROJECTION FROM ONLY 10:20:19 FOUR OR FIVE MONTHS AGO AND THEY'RE DOWN AGAIN, ACCORDING TO 10:20:23 THE NUMBERS FROM THE TREND LINE FROM '09 TO '12. 10:20:28 THE ACTUAL FACT -- I DON'T WANT TO FOCUS JUST ON THE GULF. 10:20:32 IF YOU LOOK AT THE TOTAL OIL PRODUCTION, THERE ARE SOME 10:20:36 UNCERTAINTIES BUT WE'RE SEEING INCREASED PRODUCTION IN THE 10:20:40 CONTINENTAL UNITED STATES AND WE'RE EXPECTING TO SEE INCREASE 10:20:42 IN OIL PRODUCTION FROM SHALE ROCK. 10:20:47 AGAIN, IT'S UNCERTAIN HOW MUCH THAT WILL GROW, BUT IT'S A 10:20:52 COUPLE 100,000 BARRELS A DAY PRODUCTION. 10:20:54 IT COULD INCREASE TO OVER A MILLION BARRELS A DAY IN THE 10:20:57 NEAR FUTURE. AGAIN, WE DON'T KNOW. 10:20:59 IT'S THE TOTAL OIL PRODUCTION IN THE UNITED STATES WE'RE ALSO 10:21:02 LOOKING AT. IN MY REMAINING TIME, LET ME 10:21:05 ASK TWO QUESTIONS. I KNOW YOU'VE BEEN IN CONTACT 10:21:11 WITH YOUR COUNTERPARTS IN JAPAN. IS THERE ANYTHING THEY HAVE 10:21:15 ASKED FOR WE HAVE NOT DONE? TO THE BEST OF MY KNOWLEDGE, 10:21:19 NO. THEY HAVE ACCEPTED OUR HELP IN 10:21:21 TERMS OF THE SERVICES, THE AIRBORNE RADIATION DETECTERS, 10:21:25 THINGS OF THAT NATURE. WE ARE CONTINUING TO OFFER THEM 10:21:29 HELP AND THEY ARE ACCEPTING IT. I JUST NOTE TOO, I KNOW I 10:21:33 SAID MILLION. I MEANT HUNDREDS OF THOUSANDS IN 10:21:36 MY DECLINING PRODUCTION. I SAID 450 MILLION. 10:21:41 I ADDED THREE ZEROS. LAST QUESTION AND MY TWO 10:21:46 SECONDS. A NUMBER OF US SENT YOU A LETTER 10:21:48 BACK IN FEBRUARY ASKING QUESTIONS ABOUT THE NUCLEAR 10:21:51 WASTE POLICY ACT. IF YOU COULD TAKE A LOOK AT THE 10:21:54 LETTER AND GIVE US A RESPONSE. THAT WOULD BE TERRIFIC. 10:21:59 THANK YOU. AT THIS TIME I RECOGNIZE THE 10:22:01 GENTLEMAN FROM CALIFORNIA FOR HIS QUESTIONS, FIVE MINUTES. 10:22:06 THANK YOU, MR. CHAIRMAN. MR. SECRETARY, AFTER CHERNOBYL, 10:22:14 MANY SAID SUCH AN EVENT WOULD NOT HAPPEN IN THE UNITED STATES 10:22:17 BECAUSE THE SOVIET UNION'S SECTOR WAS NOT AS ADVANCED AS 10:22:21 OUR OWN. THERE WAS TRUTH TO THAT. 10:22:24 THE CHERNOBYL PLANT WAS NOT DESIGNED WITH MANY OF THE 10:22:28 SAFEGUARDS WE HAVE IN THE UNITED STATES BUT JAPAN IS A HIGHLY 10:22:35 DEVELOPED COUNTRY. IT'S TECHNOLOGICALLY 10:22:39 SOPHISTICATED. THERE IS MUCH CONCERN THAT A 10:22:42 SIMILAR ACCIDENT COULD OCCUR HERE IN THE UNITED STATES. 10:22:44 HOW DO YOU RESPOND TO THAT CONCERN? 10:22:47 FIRST I WOULD AGREE WITH YOU, THE REACTOR IN CHERNOBYL WAS A 10:22:52 DIFFERENT DESIGN. IT HAD POINTS OF INSTABILITY. 10:22:56 IT HAD NO CONTAINMENT VESSEL. WE ARE LOOKING VERY CAREFULLY AT 10:23:00 WHAT IS HAPPENING IN JAPAN BECAUSE AS YOU SAY, THEY'RE 10:23:04 USING MORE ADVANCED DESIGNS. A NUMBER OF THE REACTORS IN THE 10:23:10 UNITED STATES HAVE SIMILAR DESIGNS AND WE'RE GOING TO LOOK 10:23:13 AT WHAT WENT WRONG IN TERMS OF THIS DOUBLE BARRELED WHAMMY OF 10:23:18 THIS HUGE, HUGE EARTHQUAKE AND HUGE TSUNAMI AND LOOK TO OUR 10:23:23 REACTORS AGAIN AND LEARN AS MUCH AS WE CAN SO WE CAN, IF NEEDED, 10:23:29 IMPROVE THE SAFETY. BY IF NEEDED WHAT I REALLY MEAN 10:23:32 IS WE'RE ALWAYS INCREASING THE SAFETY OF OUR REACTORS. 10:23:35 NOT ONLY OUR REACTORS BUT THE SAFETY OF ALL OUR INDUSTRIAL 10:23:39 SYSTEMS. MR. SECRETARY, TWO DAYS AGO, 10:23:44 A NUMBER OF US WROTE TO CHAIRMAN UPTON, WHITFIELD AND STERNS 10:23:49 REQUESTING THAT OUR COMMITTEE INVESTIGATE AND HOLD HEARINGS 10:23:52 ABOUT THE SAFETY AND PREPAREDNESS OF NUCLEAR POWER 10:23:58 PLANTS IN THE UNITED STATES. DO YOU THINK WE SHOULD 10:23:59 INVESTIGATE THE ISSUES? I THINK THAT WILL NATURALLY 10:24:03 OCCUR ESPECIALLY GIVEN THE EVENTS THAT OCCURRED IN JAPAN. 10:24:06 WE WILL LOOK BACK AS WE LEARNED WHAT HAPPENED AND APPLY THOSE 10:24:10 LESSONS WHERE NEEDED TO ALL OF OUR NUCLEAR POWER REACTORS. 10:24:15 THAT WILL BE A NATURAL CONSEQUENCE. 10:24:16 NATURAL CONSEQUENCE FOR EVERYBODY TO LOOK AT IT, BUT 10:24:19 QUITE FRANKLY, I THINK WE HAVE A RESPONSIBILITY IN CONGRESS, NOT 10:24:23 JUST YOU IN YOUR POSITION, BUT WE IN THE CONGRESS, FOR OUR 10:24:28 OVERSIGHT AND INVESTIGATIVE PURPOSES SINCE WE WRITE THE 10:24:32 LAWS. LET ME ASK YOU ABOUT THE LAWS 10:24:33 WE'RE IN THE MIDDLE OF WRITING. WE'RE TRYING TO FIGURE OUT OUR 10:24:37 ENERGY POLICY. IN THE REPUBLICAN ENERGY POLICY 10:24:39 SEEMS TO BE DEPENDING ON COAL, OIL AND NUCLEAR POWER. 10:24:45 THAT IS WHAT THEY LOOK TO FOR THE FUTURE. 10:24:50 IN FACT IT'S BEEN THE PAST. WE DO HAVE A PROBLEM OF CLIMATE 10:24:54 CHANGE, BECAUSE OF THE CARBON AND OTHER GREENHOUSE GASES. 10:24:57 WE DO HAVE A PROBLEM NOW THAT SO MUCH OF ALL OF OUR EGGS ARE IN 10:25:03 THE NUCLEAR BASKET. WHEN WE LOOK AT THE REPUBLICAN 10:25:08 BUDGET, THEY ARE PUTTING IN BILLIONS OF DOLLARS OF 10:25:13 INVESTMENT AND THOUSANDS OF CONSTRUCTION PERMANENT JOBS ARE 10:25:17 ALL GOING TO NUCLEAR, BUT THEY'RE RESCINDING A LOT OF YOUR 10:25:21 BUDGET TO DEAL WITH OTHER THINGS THAT ARE CLEAN AND RELIABLE AND 10:25:25 SAFE, SUCH AS RENEWABLE ENERGY AND ENERGY EFFICIENCY. 10:25:31 JUST TO DRAMATIZE THIS ISSUE, THE REPUBLICANS ON -- 10:25:37 REPUBLICANS WOULD RESCIND 25 BILLION OF THE 47 BILLION IN 10:25:41 LOAN GUARANTY AUTHORITY THAT WAS PROVIDED TO YOU IN 2009. 10:25:45 BUT THEY WOULD PRESERVE $20.5 BILLION IN LOAN GUARANTIES FOR 10:25:51 NUCLEAR ENERGY WHILE LEAVING ONLY 1.5 BILLION FOR ALL OTHER 10:25:56 TECHNOLOGIES. THEY SAY FOR ALL OF THE ABOVE 10:25:59 STRATEGY. THAT'S AN ALL NUCLEAR STRATEGY 10:26:02 TO ME. IN THE TIME, I WOULD LIKE YOU TO 10:26:06 EXPLAIN WHY IT'S SO IMPORTANT FOR AMERICA TO BE LOOKING AT 10:26:10 THESE OTHER PROJECTS AS WE DEVISE OUR ENERGY STRATEGY TO 10:26:14 MOVE US AWAY FROM DEPENDENCE ON OIL AND COAL AND MAYBE EVEN 10:26:19 NUCLEAR FOR YOUR FUTURE? CERTAINLY. 10:26:22 IF YOU LOOK AT WHAT'S GOING TO BE HAPPENING IN THIS CENTURY, WE 10:26:27 BELIEVE, FOR EXAMPLE, THAT THE PROSPECT OF SOLAR POWER COMING 10:26:32 DOWN IN PRICE, THE BUSINESS COMMUNITY THINKS WITHIN IN 10:26:37 DECADE, THE COST OF SOLAR GENERATION OF ELECTRICITY WILL 10:26:41 BE CUT IN HALF. WE HAVE HAD A NUMBER OF WORK 10:26:45 GROUPS AND WE THINK IT'S VERY POSSIBLE THAT BY THE END OF 10:26:48 THIS -- NOT CENTURY, BUT BY THE END OF THIS DECADE, IT CAN 10:26:55 PERHAPS BE CUT TO 25% OF WHAT IT IS TODAY. 10:26:58 THEY WILL BE COMPETITIVE IF WE MAKE INVESTMENTS IN THEM. 10:27:01 IT WILL BE VERY COMPETITIVE AND REALIZING THAT THERE IS A 10:27:05 HIGH PROBABILITY, REASONABLE PROBABILITY THAT SOLAR ENERGY 10:27:11 COULD BE COMPETITIVE WITH FOSSIL FUEL BY THE END OF THIS 10:27:14 DECADE -- NUCLEAR ENERGY IS NOT 10:27:17 COMPETITIVE UNLESS THE GOVERNMENT SUBSIDIZES IT, ISN'T 10:27:25 THAT CORRECT? AT THE MOMENT, I THINK 10:27:29 NUCLEAR AND RENEWABLES DO NEED HELP, BUT GOING FORWARD, WE'RE 10:27:33 TRYING TO FIGURE OUT A PLAN WHERE NONE OF THOSE WILL NEED 10:27:37 SUBSIDY. GENTLEMAN'S TIME IS EXPIRED. 10:27:40 AT THIS TIME, I RECOGNIZE THE GENTLEMAN FROM ILLINOIS FOR FIVE 10:27:42 MINUTES. THANK YOU. 10:27:44 AGAIN, MR. SECRETARY, WELCOME. I'VE GOT A LOT OF QUESTIONS. 10:27:47 I'M GOING TO TRY TO GO, NOT DISRESPECTFUL BUT GET THROUGH MY 10:27:51 LIST. I'LL SAY TO THE CHAIRMAN 10:27:54 EMERITUS. THAT'S WHY COAL WILL STILL BE 10:27:56 KING, BECAUSE IT ADDRESSES THE MARKET ISSUES AND COAL WILL HAVE 10:28:00 A MAJOR ISSUE IN OUR PORTFOLIO FOR YEARS TO COME. 10:28:03 JUST AN ISSUE, I HAD A VISIT BY A BATTERY TECHNOLOGY GUY WHO 10:28:07 SAID HE WAS LAUGHED OUT OF YOUR BATTERY OFFICE. 10:28:10 MY CONCERN IS THAT THE DOE MAY BE SO BIG AND ALREADY HAVE A 10:28:18 DESIGN BELIEF ON BATTERY TECHNOLOGY THAT IF SOMEONE COMES 10:28:21 WITH SOMETHING NEW, THEY'RE NOT GOING TO GET A GOOD HEARING. 10:28:24 CAN WE TALK ABOUT THIS LATER ON AND VISIT WITH THIS? 10:28:27 SURE. IF WE'RE GOING TO DO 10:28:30 RESEARCH, WE DON'T WANT TO HAVE, BECAUSE WE PUT BILLIONS OF 10:28:33 DOLLARS INTO ONE SECTOR, IF A NEW ENTRY COMES IN THAT MAY 10:28:36 OFFER MORE, WE WANT TO GIVE THEM A FAIR HEARING. 10:28:40 CAN YOU DEFINE CLEAN? WELL, WE CAN START WITH WHAT 10:28:45 WE ALL RECOGNIZE TRADITIONAL POLLUTE APTS, SULFUR DIOXIDE, 10:28:51 MERCURY, PARTICULATE MATTER. ALSO INCLUDES CARBON DIOXIDE. 10:28:56 THAT'S GOOD, BECAUSE A LOT OF PEOPLE WILL NOT ADD THAT. 10:29:00 THEY'LL SAY CLEAN BUT THEY WON'T ADDRESS THE CO 2 ISSUE. 10:29:04 JUST A MESSAGE, WAXMAN MARKEY FAILED BECAUSE THE PUBLIC 10:29:14 DECIDED TO NOT PRICE CARBON. WE HAD THAT ARGUMENT YESTERDAY. 10:29:18 WE HAVE A BILL MOVING THROUGH THE FLOOR OF THE HOUSE THAT WILL 10:29:24 START ADDRESSING THE EPA, BUT WE NEED ANOTHER APPROACH. 10:29:28 I WOULD SAY ENERGY SECURITY IS A BETTER WAY TO BRING BOTH SIDES 10:29:32 TOGETHER THAN PRICING CARBON. DOE WAS ESTABLISHED IN WHAT? 10:29:37 1977? AROUND THAT TIME, 75. 10:29:39 OUR RELIANCE ON IMPORTED CRUDE OIL WAS WHAT PERCENT AT 10:29:44 THAT TIME? I'M GOING TO TAKE A WILD 10:29:46 STAB, SOMETHING AROUND 25%. I THOUGHT MAYBE 35. 10:29:50 WHAT IS IT TODAY? IT'S ABOUT 50, 51%. 10:29:53 CAN WE SAY THAT WE'VE MADE ANY GREAT STRIDES BY HAVING THE 10:29:59 DOE HERE OVER 25 YEARS? NO. 10:30:02 IN FACT A LITTLE WHILE AGO, IT WAS CLOSE TO 60%. 10:30:04 THANK YOU. THAT IS A POINT. 10:30:09 FUTURE GEN 2.0, IS THAT REALLY BUSH GEN 1.0? 10:30:15 NO. LET ME EXPLAIN. 10:30:17 I FOLLOW FUTURE GEN A LOT. FUTURE GEN WAS A NEW COAL FIRED 10:30:21 PLANT THAT WOULD GO TO HYDROGEN TECHNOLOGY AND A RESEARCH 10:30:26 CENTER. BUSH TUBED IT. 10:30:28 SAID LET'S GAS FIE COAL IN EXISTING PLANS AND CCS. 10:30:34 ISN'T THAT WHAT FUTURE GEN 2.0 IS? 10:30:37 NO. IT WAS A GASIFICATION CAPTURE 10:30:41 AND STORAGE. USING HYDROGEN TURBINES? 10:30:44 YES, GAS TURBINES MOSTLY. MY POINT IS, JUST FOR 10:30:50 CLARITY, WHEN RETROFITTING MORIDOSHA WITH CURRENT 10:30:57 TECHNOLOGY, GASIFICATION, THAT REALLY WAS THE BUSH PLAN. 10:31:01 THAT IS WHAT BODMAN WAS MOVING TO DO, IS THAT CORRECT? 10:31:04 CERTAINLY, THE TAKING OF A COMMERCIAL SCALE POWER PLANT, 10:31:09 CAPTURING THE CARBON DIOXIDE AND SEQUESTERING IT WAS A BUSH PLAN. 10:31:14 THIS IS SLIGHTLY DIFFERENT BECAUSE IT'S BURNING IN AN 10:31:18 OXYGEN ATMOSPHERE. I GOT THE ANSWER I NEEDED. 10:31:22 WE WANT TO DECREASE RELIANCE ON IMPORTED CRUDE OIL. 10:31:27 SENATOR OBAMA JOINED SENATOR BUNTING TO PUSH A CODE OF LIQUID 10:31:32 LEGISLATION THROUGH THE SENATE. WHAT IS THE DOE'S POSITION? 10:31:37 WE THINK IT'S SOMETHING TO LOOK AT. 10:31:40 THERE'S NEW COAL TO LIQUID TECHNOLOGIES. 10:31:44 NEW ONES THAT ARE MORE EFFICIENT. 10:31:47 WE HAVE TO CAPTURE THE CARBON DIOXIDE, THE EXCESS CARBON 10:31:52 DIOXIDE IN THOSE TECHNOLOGIES. THE NATIONAL ACADEMY OF 10:31:56 SCIENCES, AMERICA'S ENERGY FUTURE, HAS ISSUED A REPORT 10:31:58 LOOKING AT THE MIXTURE OF COAL PLUS BIOMASS GASIFICATION 10:32:05 METHODS TO CREATE LIQUIDS WITH CARBON CAPTURE AND STORAGE. 10:32:08 IT'S MY UNDERSTANDING THE CARBON FOOTPRINTS IS LOWER THAN 10:32:11 CRUDE OIL REFINERIES IN THAT DESIGN? 10:32:13 SIGNIFICANTLY LOWER. ONCE YOU EXCEED 30% OF BIOMASS, 10:32:18 IT ACTUALLY BECOMES NEGATIVE. LAST QUESTION IS ONE OF THE 10:32:23 RISKS IN JAPAN IS THAT ONE OF THE DECOMMISSIONED OR OFFLINE 10:32:28 NUCLEAR POWER PLANTS HAD A STORAGE POOL THAT WENT DRY, IS 10:32:31 THAT CORRECT? WE DON'T KNOW. 10:32:33 AT LEAST THAT'S WHAT THE INDUSTRY REPORTS ARE. 10:32:38 THERE ARE SO MANY CONFLICTING REPORTS. 10:32:39 LET ME MAKE THIS POINT AND I'LL BE DONE. 10:32:42 THERE ARE 11 POOLS WITHIN 40 MILES OF DOWNTOWN CHICAGO. 10:32:47 WOULDN'T IT MAKE SENSE TO HAVE ONE CENTER LOCATION FOR STORAGE 10:32:51 OF HIGH LEVEL NUCLEAR WASTE LIKE YOU IDENTIFIED IN YOUR REPORT 10:32:56 WHEN OR THE LAB DIRECTOR, WHEN YOU SAID LICENSING OF YUCCA 10:33:00 MOUNTAIN REPOSITORY HAS A LONG RANGE RESOURCE WITH ONE OF THE 10:33:04 FINDINGS. WE'RE TALKING ABOUT TWO 10:33:05 DIFFERENT THINGS. IN A NUCLEAR REACTOR SITE, 10:33:08 IMMEDIATELY AFTER YOU TAKE OUT THE RODS AND PUT THEM IN, YOU 10:33:11 NEED TO PUT THEM IN WATER POOLS. THAT IS A VERY SHORT TERM 10:33:15 STORAGE. YUCCA MOUNTAIN IS A LONG TERM. 10:33:18 FOLKS ARE HOLDING NUCLEAR WASTE POOLS THINK IT'S LONG M 10:33:28 TERM. GENTLEMAN'S TIME IS EXPIRED. 10:33:29 RECOGNIZE THE GENTLEMAN FROM TEXAS FOR FIVE MINUTES. 10:33:30 MR. SECRETARY, IN THE LINE OF QUESTIONING, WE HAD A LOT OF 10:33:36 QUESTIONS, MEMBERS TALKING ABOUT SOLAR AND WIND. 10:33:39 DOES EITHER SOLAR OR WIND HAVE THE POTENTIAL IN THE NEXT TEN 10:33:44 YEARS OF EVER BECOMING A STABILIZED BASE LOAD LIKE COAL 10:33:48 OR NUCLEAR OR NATURAL GAS? IT DEPENDS ON THE DEVELOPMENT 10:33:52 OF ENERGY STORAGE TECHNOLOGIES ALONG WITH THAT. 10:33:57 YOU KNOW THEY'RE VARIABLE. WHEN THE SUN STOPS SHINING 10:34:02 THEY'RE NO LONGER GENERATING ELECTRICITY. 10:34:05 IT WOULD HAVE TO DEPEND ON THAT. BEFORE THAT HAPPENS, I THINK IT 10:34:08 CAN GO TO A REASONABLE FRACTION OF OUR ELECTRICITY USE. 10:34:13 ISLAND COUNTRIES LIKE IRELAND HAVE 20% WIND COUPLED WITH 10:34:18 FOSSIL FUEL. IS THERE ANY COUNTRY IN THE 10:34:22 WORLD, I KNOW DENMARK HAS LED, WHAT IS THE PERCENTAGE OF WIND, 10:34:28 FOR EXAMPLE IN DENMARK? IT'S A LITTLE OVER 20. 10:34:31 20, 25%. IT'S COUPLED INTO A MASSIVE GRID 10:34:35 AND SO IRELAND IS A BETTER EXAMPLE BECAUSE THEY HAVE TO BE 10:34:39 SELF SUFFICIENT. WITH OUR GRIDS, WE HAVE IT 10:34:43 MUCH MORE DIFFICULT. BECAUSE TEXAS IS OUR OWN AND OF 10:34:46 COURSE THE EAST AND WEST COAST. LET ME ASK YOU ANOTHER QUESTION. 10:34:51 THE ADMINISTRATION HAS PROPOSED REPEALING NUMEROUS SUBSIDIES ON 10:34:55 FOSSIL FUELS. ONE HAS BEEN PART OF THE U.S. 10:34:59 CODE SINCE 1926. ANOTHER HAS CREATED AND 10:35:04 MAINTAINED U.S. JOBS. I'M CONCERNED ABOUT THIS BECAUSE 10:35:06 INCREASING COSTS FOR DOMESTIC INDUSTRY WOULD JEOPARDIZE BOTH 10:35:10 SMALL BUSINESS JOBS BUT INCREASE OUR RELIANCE ON FOREIGN SOURCES 10:35:15 OF ENERGY. WOULD YOU AGREE THAT INCREASING 10:35:18 COSTS FOR DOMESTIC PRODUCTION MAY IMPACT OUR ABILITY TO 10:35:22 ADDRESS CLIMATE CHANGE BECAUSE WE FAIL TO PROVIDE NATURAL GAS 10:35:25 WHICH IS CLEANER BURNING AS A BRIDGE, WHATEVER WE HAVE, 10:35:29 WHETHER IT'S NUCLEAR, SOLAR, WHATEVER, TO MEET OUR SHORT TERM 10:35:34 CARBON REDUCTION GOALS THAT WE HOPE TO HAVE WHILE PROVIDING 10:35:38 AFFORDABLE AND RELIABLE SUPPLIES FOR ENERGY FOR AMERICAN 10:35:41 CONSUMERS? I WOULD SAY BASED ON WHAT'S 10:35:43 BEEN HAPPENING IN SHALE GAS AND THE LOWER GAS PRICES AND THE 10:35:47 ANTICIPATION FOR THE NEXT DECADE, POSSIBLY TWO DECADES, 10:35:51 NATURAL GAS PROVIDES WILL BE LOW, THERE WILL BE A NATURAL 10:35:56 MOVE TOWARDS GAS, BUT I WOULD ALSO SAY UTILITY COMPANIES AND 10:36:01 POWER GENERATORS ARE AWARE THAT YOU STILL WANT A DIVERSE SET OF 10:36:05 ENERGY SOURCES. I KNOW WHAT COULD HURT US ON 10:36:09 OUR NATURAL GAS SUCCESS IN OUR COUNTRY. 10:36:11 WE PAY ACTUALLY LESS PER MCF THAN ANYWHERE ELSE IN THE WORLD 10:36:17 FOR NATURAL GAS BECAUSE OF OUR SUCCESS. 10:36:20 EITHER TAX INCREASES OR LIMITATION ON HYDRO FRACCING 10:36:25 COULD ELIMINATE THAT, SO I WOULD CAUTION YOU. 10:36:29 TO JUMP START THE DOMESTIC NUCLEAR ENERGY, YOUR BUDGET 10:36:36 REQUESTS 36 BILLION. HOW MANY PROJECTS DO YOU THINK 10:36:39 WE WOULD BE ABLE TO SUPPORT WITH THAT, EVEN WITH THE TRAGEDY 10:36:43 THAT'S HAPPENED IN THE LAST FEW DAYS. 10:36:45 DO YOU STILL THINK WE OUGHT TO GO FORWARD AFTER TAKING A 10:36:51 BREATH, FOR EXAMPLE AND SAYING OKAY, WHAT DO WE NEED TO DO 10:36:53 DIFFERENT? DO YOU STILL THINK WE NEED TO GO 10:36:54 FORWARD AND EXPAND NUCLEAR POWER IN OUR COUNTRY? 10:36:56 FIRST I AGREE WITH YOU. I THINK BASED ON THE EVENTS IN 10:37:00 JAPAN, WE NEED TO LOOK HARDER AT THESE PROJECTS AND GUARANTEE 10:37:05 THAT THEY CAN GO FORWARD IN A SAFE WAY. 10:37:08 TO YOUR SPECIFIC QUESTION OF THE $36 BILLION, WE BELIEVE SHOULD 10:37:11 BE ABLE TO FUND SOMETHING LIKE SIX TO EIGHT PROJECTS THAT THE 10:37:19 LOAN GUARANTIES COULD GET SIX TO EIGHT PROJECTS GOING, THEN WE 10:37:24 BELIEVE IF THEY CAN PROCEED AND BE BUILT ON TIME, ON SCHEDULE, 10:37:30 THERE WOULD BE ENOUGH CONFIDENCE THAT THE PRIVATE SECTOR SHOULD 10:37:35 BE ABLE TO PICK THAT UP. OKAY. 10:37:38 IN THE PRESIDENT'S STATE OF THE UNION ADDRESS, HE HAD A GOAL OF 10:37:41 CLEAN ENERGY SOURCES TO ACCOUNT FOR 80% OF AMERICAN'S 10:37:46 ELECTRICITY BY 2035. IF WE SHOULD DOWN OUR EXPANSION 10:37:50 OF NUCLEAR POWER LIKE WE DID AFTER THREE MILE ISLAND AND 10:38:04 CHERNOBYL? WE ARE 40% CLEAN BY THIS 10:38:08 DEFINITION WHERE YOU ACCOUNT FOR NATURAL GAS COMBINED CYCLE 10:38:11 NATURAL GAS GIVING HALF CREDIT, BUT I THINK WE WILL NEED 10:38:16 CERTAINLY A LARGE INCREASE IN WIND AND SOLAR. 10:38:19 WE WILL NEED CLEAN COAL AND I BELIEVE WE WILL NEED TO HAVE 10:38:23 SOME FRACTION COMING FROM NUCLEAR. 10:38:27 I WAS SURPRISED AND I KNOW ENERGY INFORMATION INSTITUTE, 10:38:31 MR. CHAIRMAN, LET ME -- I WAS SURPRISED AT THE BILLIONS OF 10:38:36 KILOWATT HOURS COMPARED TO JAPAN. 10:38:43 IN MY AREA IN HOUSTON, WE'RE FLAT, WE DON'T HAVE THE OPTION 10:38:48 FOR HYDRO POWER LIKE THE WEST COAST AND OTHER AREAS. 10:38:51 WE HAVE TO LOOK AT NATURAL GAS AND NUCLEAR AND COAL. 10:38:54 THANK YOU FOR YOUR PATIENCE. I RECOGNIZE THE GENTLEMAN 10:38:59 FROM TEXAS, MR. BARTON, FOR FIVE MINUTES. 10:39:04 THANK YOU, MR. CHAIRMAN. IN LIGHT OF WHAT'S HAPPENED IN 10:39:08 JAPAN, I WOULD LIKE TO HEAR WHAT YOU BELIEVE PRESIDENT OBAMA'S 10:39:13 POSITION IS ON NUCLEAR POWER GENERALLY IN THE UNITED STATES? 10:39:16 DOES HE STILL SUPPORT A REBIRTH OF NUCLEAR POWER AND 10:39:22 CONSTRUCTION OF NEW PLANTS? CAN YOU GIVE US YOUR BEST 10:39:25 ESTIMATE OF WHAT HIS POSITION IS? 10:39:29 I THINK THE PRESIDENT AND THE ADMINISTRATION BELIEVES THAT WE 10:39:32 HAVE TO BE LOOKING VERY CLOSELY AT THE EVENTS IN JAPAN. 10:39:35 AS WE SAID BEFORE, WE HAVE TO APPLY WHATEVER LESSONS THAT CAN 10:39:40 BE AND WILL BE LEARNED FROM WHAT HAS HAPPENED AND IS HAPPENING IN 10:39:44 JAPAN WITH THOSE LESSONS WOULD THEN BE APPLIED TO FIRST LOOK AT 10:39:48 OUR CURRENT, EXISTING FLEET OF REACTORS TO MAKE SURE THEY CAN 10:39:52 BE USED SAFELY AND ALSO TO LOOK AT HOW AS ONE PROCEEDS FORWARD, 10:39:59 ANY LESSONS LEARN CAN BE APPLIED. 10:40:03 IT WOULD BE PREMATURE TO SAY ANYTHING OTHER THAN WE WILL USE 10:40:06 THIS OPPORTUNITY TO LEARN AS BEST WE CAN. 10:40:10 CONSIDER CAREFULLY HOW TO GO FORWARD. 10:40:13 I'M NOT SURE WHAT YOU JUST SAID. 10:40:15 OKAY. DOES THE PRESIDENT SUPPORT 10:40:18 NEW NUCLEAR POWER PLANT CONSTRUCTION IN THE UNITED 10:40:22 STATES? THE PRESENT BUDGET IS WHAT IT 10:40:27 IS. WE'RE ASKING FOR LOAN 10:40:29 GUARANTIES. THE PRESENT BUDGET IS ALSO 10:40:34 CALLING FOR SMALL MODULE REACTORS. 10:40:37 THAT POSITION HAS NOT BEEN CHANGED. 10:40:39 THAT'S A YES? THAT'S A YES. 10:40:40 THAT'S WHAT I WANTED YOU TO SAY. 10:40:44 NOW, WITH REGARD TO THE LOAN GUARANTIES THAT YOU JUST 10:40:51 MENTIONED, GIVEN AGAIN WHAT'S HAPPENED, DO YOU AND THE 10:40:55 PRESIDENT WANT THE CONGRESS TO SUPPORT THE FULL 36 BILLION THAT 10:41:00 YOU HAVE PUT IN THE PRESIDENT'S BUDGET? 10:41:02 YES. YOU'RE LEARNING. 10:41:05 YOU'RE NOT A NOBEL PRIZE WINNER FOR NOTHING. 10:41:09 THIS ONE IS GOING TO BE A LITTLE BIT TRICKIER. 10:41:14 YOU'RE A FORMER DIRECTOR OF A NATIONAL LABORATORY AND DID AN 10:41:17 EXCELLENT JOB. I'M A STRONG SUPPORTER OF THE 10:41:20 NATIONAL LABORATORIES. AT ONE TIME I HOPED TO HAVE ONE 10:41:24 IN TEXAS, THE SUPERER LABORATORY THAT WASN'T FUNDED UNDER 10:41:28 PRESIDENT CLINTON. HAVING SAID THAT, GIVEN THE 10:41:32 SITUATION OF OUR BUDGET, DO YOU THINK IT MIGHT BE TIME TO 10:41:38 REEVALUATE THE NUMBER OF NATIONAL LABORATORIES AND 10:41:42 PERHAPS BEGIN UP WITH A PLAN TO REORGANIZE AND CONSOLIDATE THEM? 10:41:48 YOU'RE RIGHT. THAT'S A TOUGHY. 10:41:52 I WOULD SAY -- I WOULD SAY BEFORE WE DO THAT, LS A LOT OF 10:41:57 OTHER THINGS WE CAN DO TO LOOK AT HOW WE GET REAL EFFICIENCIES 10:42:01 IN WHAT WE DO. EVEN THOUGH THE PRESIDENT AND I 10:42:05 FIRMLY BELIEVE THAT THE DEPARTMENT OF ENERGY WILL PLAY A 10:42:10 CRITICAL ROLE IN GUARANTEEING THE FUTURE PROS PARITY IN THE 10:42:15 UNITED STATES IN THIS RECENT DEVELOPMENT. 10:42:17 WE DO ALSO RECOGNIZE THAT WE HAVE TO LOOK TO GAIN 10:42:22 EFFICIENCIES WHEREVER WE CAN AND TO STREAMLINE WHAT WE DO, 10:42:27 KNOWING THAT ULTIMATELY THE MONEY WE GIVE TO UNIVERSITIES, 10:42:30 NATIONAL LABORATORIES AND HELP RESEARCH IN BUSINESSES, THAT'S 10:42:35 OUR REAL JOB AND THE OTHER STRUCTURES ARE THERE TO ENSURE 10:42:38 THAT WE DO THIS IN THE MOST INTELLIGENT WAY POSSIBLE. 10:42:45 WE'RE GOING TO BE WORKING VERY HARD TO LOOK AT HOW WE CAN 10:42:49 INCREASE THOSE EFFICIENCIES. I SUPPORT THE NATIONAL 10:42:54 LABORATORIES BUT I DO THINK WE OUGHT TO BEGIN TO REEVALUATE 10:42:58 THEM IN LIGHT OF THE BUDGET AND ALSO THE FACT THAT PERHAPS SOME 10:43:01 OF THEIR MISSIONS ARE NOT QUITE WHAT THEY WERE WHEN THEY WERE 10:43:04 ORIGINALLY ESTABLISHED. MY LAST QUESTION IS AGAIN 10:43:08 SOMETHING THAT'S OF A SENSITIVE NATURE. 10:43:11 WE HAVE HAD REPEATED SECURITY VIOLATIONS AT THE SAN DEA 10:43:22 NATIONAL LABORATORY AT LOS ALAMOS, THERE HAVE BEEN A NUMBER 10:43:26 OF SPECIAL TASK FORCES TRYING TO GET CONTROL OF THE SECURITY 10:43:33 SITUATION IN TERMS OF OUR NATIONAL SECRETS IN THOSE 10:43:36 INSTITUTIONS. CAN YOU TELL THE COMMITTEE WHAT 10:43:37 THE STATUS IS OF TRYING TO MAKE SURE THAT THOSE TWO LABORATORIES 10:43:42 ARE SECURE IN TERMS OF THE SECRETS THAT WE HAVE OUT THERE? 10:43:46 I THINK THE DEPARTMENT OF ENERGY TAKES THE SECURITY VERY 10:43:52 SERIOUSLY, NOT ONLY LOS ALMOS BUT OTHER PLACES. 10:44:04 WE TAKE THOSE VERY SERIOUSLY. I CAN GIVE YOU THE DETAILS. 10:44:08 I HAVE A SLIGHTLY DIFFERENT VIEW THAN YOU ON THE NUMBER OF 10:44:13 SECURITY VIOLATIONS, BUT EVERY ONE WE TAKE SERIOUSLY. 10:44:16 WE WOULD BE GLAD TO BRIEF YOU AND YOUR STAFF. 10:44:18 I APPRECIATE THAT. THANK YOU, MR. CHAIRMAN FOR THE 10:44:21 COURTESY OF GIVING ME THE TIME TO ASK QUESTIONS. 10:44:23 AT THIS TIME, I RECOGNIZE THE GENTLE LADY FROM CALIFORNIA. 10:44:29 THANK YOU FOR YOUR TIMELY TESTIMONY. 10:44:32 I RECENTLY TOURED THE UNIVERSITY OF CALIFORNIA INSTITUTE FOR 10:44:35 ENERGY EFFICIENCY WHICH WAS NAMED A FRONTIER RESEARCH CENTER 10:44:40 BY YOUR DEPARTMENT. I WAS PLEASED YOU MENTIONED YOUR 10:44:42 SUPPORT FOR THIS PROGRAM IN YOUR TESTIMONY. 10:44:44 AS YOU KNOW, THIS CENTER IS RESEARCHING ENERGY SAVINGS IN 10:44:49 SOLID STATE LIGHTING. I'M SO IMPRESSED BY THE WORK OF 10:44:52 THE PROFESSORS AND THE STUDENTS, ESPECIALLY THEIR COMMITMENTS TO 10:44:55 THE COMMERCIALIZATION OF NEW TECHNOLOGIES LIKE LEDs. 10:44:59 WOULD YOU TALK FOR A MINUTE OR TWO ABOUT HOW BUDGET REQUESTS 10:45:04 WILL -- YOUR BUDGET REQUEST WILL SUPPORT THE ADMINISTRATION'S 10:45:07 EFFORT TO GET PROJECTS FROM THE LABORATORY AND THE MARKETPLACE 10:45:10 WITH A DIRECT IMPACT ON THE ECONOMY? 10:45:13 CERTAINLY. I THINK THE BUDGET REQUEST IN 10:45:17 THE OFFICE OF SCIENCE THAT IS FUNDING THE GROUP YOU'RE 10:45:19 SPEAKING ABOUT IS PRECISELY THE KIND OF RESEARCH WE WILL NEED TO 10:45:24 ENSURE AMERICA STAYS AT THE FOREFRONT IN THESE DEVELOPING 10:45:29 TECHNOLOGIES. IT IS A VERY COMPETITIVE WORLD 10:45:30 OUT THERE. CURRENTLY THE UNITED STATES DOES 10:45:33 MAKE THE BEST LEDs BUT WE CAN EASILY LOSE THAT LEAD, KOREA, 10:45:40 CHINA, JAPAN, EUROPE WANTS TO TAKE THIS AWAY. 10:45:42 IN THE MEANTIME, WE'RE ACTUALLY TRYING TO RECAPTURE THE LEAD IN 10:45:46 THINGS WE HAVE LOST, ADVANCED BATTERY TECHNOLOGY AND WHAT WE 10:45:49 ARE SEEING COMING OUT OF THE UNIVERSITIES AND NATIONAL LABS 10:45:53 ARE THE NEXT GENERATION OF NEW BATTERIES WHERE I THINK WE CAN 10:45:58 RECAPTURE THAT LEAD. THESE ARE MULTI BILLION DOLLAR 10:46:02 MARKETS IN THE FUTURE. THIS GOES TO THE HEART OF WHAT 10:46:06 THE BUDGET REQUEST IS ABOUT, THAT IN THIS VERY COMPETITIVE 10:46:11 WORLD WHERE ALL OTHER COUNTRIES AND COMPANIES ARE TRYING TO SAY 10:46:14 WE WANT TO OWN THIS CHAIR, THIS IS WHAT'S GOING TO BE AT RISK. 10:46:19 THANK YOU. I ALSO WANT TO ASK YOU ABOUT THE 10:46:22 STATE ENERGY PROGRAM. DECREASED SUPPORT FOR THESE 10:46:26 PROGRAMS WILL LIMIT EFFICIENCY AID TO SMALL BUSINESSES AND 10:46:29 FAMILY AS WELL AS TO OUR LOCAL GOVERNMENTS. 10:46:31 AS YOU MENTIONED EARLIER, EFFICIENCIES WILL PRODUCE MAJOR 10:46:34 ENERGY AND COST SAVINGS. THAT'S BEEN CLEARLY DEMONSTRATED 10:46:37 OVER TIME. I'VE BEEN TOLD THE STATE ENERGY 10:46:40 PROGRAM HAS REDUCED KOFGS SAVINGS OF $300 MILLION 10:46:44 ANNUALLY. IT LEVERAGES $10 IN PRIVATE 10:46:48 MONEY OF EVERY DOLLAR OF GOVERNMENT MONEY SPENT. 10:46:51 WOULD YOU DESCRIBE HOW THE CUTS IN THE STATE ENERGY PROGRAM, 10:46:54 PARTICULARLY THOSED IN HR-1 WILL AFFECT LOCAL CLEAN ENERGY 10:47:01 INITIATIVES? WOULD YOU ANTICIPATE JOB LOSSES 10:47:03 AND HOW WOULD THESE CUTS AFFECT SMALL BUSINESSES TRYING TO 10:47:06 REDUCE THEIR ENERGY BILLS NOT TO MENTION HOMEOWNERS AND OTHERS? 10:47:10 WELL, THEY CERTAINLY WILL HAVE THE IMPACTS YOU TALKED 10:47:16 ABOUT AND THIS IS ONE OF THESE AREAS WHERE WE HAVE TO MAKE SOME 10:47:22 TOUGH CHOICES. WE HAD A VERY GOOD STATE ENERGY 10:47:27 PROGRAM IN THE RECOVERY ACT AND ALSO THE ECBG. 10:47:32 WE WILL HAVE TO WORK WITH CONGRESS GOING FORWARD IN 10:47:35 WHATEVER BUDGETS THEY DO GIVE US AND HOW TO APPORTION WHAT MONEYS 10:47:39 BETWEEN RESEARCH AND DEVELOPMENT AND THINGS LIKE THE STATE ENERGY 10:47:44 PROGRAM. FINALLY, I WANT TO ASK YOU 10:47:48 ABOUT THE INNOVATIVE APPROACHES TO GENERATING ELECTRICITY FROM 10:47:52 MARINE RENEWABLES. I HAVE A PARTICULAR COMPANY IN 10:47:55 MIND. RIGHT NOW THE DEPARTMENT HAS 10:47:57 PLANNED FUNDING FOR NINE COMPANIES WITH ACTIVE PROJECTS. 10:48:00 INCLUDING A COMPANY BASED IN MY CONGRESSIONAL DISTRICT CALLED 10:48:06 ECOMERIT. CAN YOU PLEASE TALK TO US ABOUT 10:48:07 THE PROMISE OF MARINE RENEWABLES, MAYBE THE STEPS THE 10:48:10 DEPARTMENT IS TAKING TO AVOID OR MITIGATE ENVIRONMENTAL IMPACTS 10:48:13 IN COASTAL AREAS AND SECOND, ARE YOU CONCERNED THAT CUTS TO CLEAN 10:48:17 ENERGY PROGRAMS LIKE THIS ONE MIGHT SLOW DOWN THE DEVELOPMENT 10:48:24 OF RE -- DEVELOPMENT AND DEPLOYMENT OF MARINE RENEWABLES? 10:48:29 AGAIN, THE CUTS WOULD DEFINITELY AFFECT THE RESEARCH 10:48:36 WE CAN FUND. BY MARINE RENEWABLES, I THINK 10:48:41 YOU'RE REFERRING TO KINETIC ENERGY EXTRACTION TECHNIQUES. 10:48:47 THERE ARE AT LEAST A DOZEN COMPANIES THAT I KNOW OF THAT 10:48:49 ARE LOOKING INTO THIS, BOTH HERE IN THE UNITED STATES AND ABROAD. 10:48:54 IT'S SOMETHING THAT IS A RESEARCH PROJECT SO WE DON'T 10:48:59 REALLY KNOW WHETHER IT'S GOING TO SEE DEPLOYMENT. 10:49:10 IT'S TREMENDOUS ENERGY IN OCEAN WAVES. 10:49:13 THAT'S WHY WE ARE LOOKING AT THIS. 10:49:15 THE OTHER PIECE IS THE STEPS YOUR DEPARTMENT IS TAKING TO 10:49:18 MITIGATE ENVIRONMENT IMPACTS ON COASTAL AREAS? 10:49:22 YES. ALL PART OF THE PACKAGE, BECAUSE 10:49:24 WE ALL KNOW THAT WHATEVER FORM OF ENERGY PRODUCTION WE USE, 10:49:30 THEY COULD EASILY HAVE ENVIRONMENTAL IMPACTS AND YOU DO 10:49:33 THIS, YOU KNOW, AT THE VERY BEGINNING BECAUSE IN THE END, 10:49:37 WHAT YOU WANT TO DO IS DEVELOP A TECHNOLOGY THAT CAN ACTUALLY BE 10:49:42 DEPLOYED AND THERE WOULD NOT BE STRONG OBJECTIONS TO DEPLOYMENT. 10:49:46 IT IS ALWAYS PART OF THE PACKAGE. 10:49:48 THANK YOU. AT THIS TIME, DR. CASSIDY OF 10:49:53 LOUISIANA IS RECOGNIZED FOR FIVE MINUTES. 10:50:00 NOW, I'M STRUCK THAT YOU MENTIONED THE SUBSIDIES, THE 10:50:06 HEIGHTENED OR CONTINUED SUBSIDIES FOR WIND AND OTHER 10:50:12 RENEWABLES. I'M LOOKING AT SOMETHING FROM 10:50:17 EIA, ENERGY INFORMATION ADMINISTRATION. 10:50:19 IT SAYS AS OF 2007, THE SUBSIDY AND SUPPORT PER UNIT OF SOLAR IS 10:50:29 $24.34. FOR COAL, IT'S 44 CENTS AND 10:50:33 NATURAL GAS AND PETROLEUM LIQUIDS, IT IS 25 CENTS. 10:50:37 SO, GIVEN THERE'S ALMOST 100 TIMES INCREASE SUBSIDY FOR SOLAR 10:50:43 AND WIND VERSUS NATURAL GAS AND PETROLEUM, MAYBE 80 TIMES FOR 10:50:48 COAL, HOW MUCH SUBSIDY IS REQUIRED FOR US TO TAKE WIND AND 10:50:53 SOLAR UP TO 25% AND CAN WE AFFORD THAT SUBSIDY? 10:50:58 THERE ARE TWO WAYS OF CALCULATING SUBSIDIES. 10:51:01 ONE IS BY ABSOLUTE DOLLAR AMOUNT. 10:51:05 ANOTHER IS BY FRACTION OF ENERGY PRODUCED. 10:51:07 DOESN'T THAT SEEM A MORE REASONABLE WAY BECAUSE IF 10:51:11 SOMETHING THE 50% -- COAL IS 50% OF OUR ENERGY PRODUCTION, TO 10:51:15 TAKE THE ABSOLUTE NUMBER IS A LITTLE MISLEADING VERSUS THAT AS 10:51:20 PERCENTAGE OF THE ENERGY IT PRODUCES. 10:51:22 IT REALLY DEPENDS BECAUSE IF YOU LOOK AT THE SUBSIDY OF OIL 10:51:26 AND GAS BEGINNING IN THE BEGINNING OF THE 20th CENTURY -- 10:51:36 I DON'T MEAN TO BE RUDE, BUT JUST TO TAKE ELECTRICITY, 10:51:41 BECAUSE THERE IS THE MEGAWATT HOUR AND SUBSIDIES PER, SO IT'S 10:51:44 $25 ROUGHLY FOR SOLAR AND WIND. 25 CENTS FOR NATURAL GAS. 10:51:50 PER MEGAWATT HOUR. HOW LONG CAN WE SUBSIDIZE SOLAR 10:51:55 AND WIND AND CAN WE AFFORD IT IF WE'RE GOING TO INCREASE IT TO 10:52:00 25% OF OUR ELECTRICAL USE? WELL, I THINK THAT WIND AND 10:52:05 SOLAR SHOULD NOT HAVE ANY LONGER SUBSIDIES THAN OIL AND GAS, 10:52:10 WHICH IS ABOUT 80 OR 90 YEARS. MY CONCERN IS, OBVIOUSLY, OTHERS 10:52:14 HAVE ATTEMPTED TO DO THIS, SO THERE'S A INDUSTRY RENEWABLE 10:52:22 POWER NEWS, AN ADVOCACY GROUP FOR RENEWABLE POWER. 10:52:29 I'M STRUCK, I'M QUOTING, SPAIN WILL CUT RENEWABLE ENERGY 10:52:33 SUBSIDIES. THESE HAVE GROAN EXPONENTIALLY. 10:52:36 IT'S BEEN ASSOCIATED WITH AN ASTRONOMICAL RISE IN ENERGY 10:52:42 PRICES WHICH HAS EQUALLY RESULTED IN HEIGHTENING 10:52:45 INFLATION AND DECREASING LEVELS OF COME PETTIVENESS. 10:53:00 WE ARE DEVELOPING PLANS OF WHAT WE CAN DO IN ORDER TO BRING 10:53:05 THE COST OF RENEWABLES LIKE SOLAR AND WIND DOWN TO THE COST 10:53:08 OF FOSSIL FEEL AND WE'RE TALKING ABOUT A DECADE, MAYBE TWO, 10:53:13 MAXIMUM, SO THIS IS -- WE ARE ON AN ACCELERATED PLAN. 10:53:15 THE WORLD IS RACING AHEAD. THE DEVELOPMENT AND DROP IN 10:53:19 PRICE OF THESE RENEWABLES WILL BE VERY FAST. 10:53:22 MY CONCERN THOUGH IS THAT THERE ARE CERTAIN LAWS OF 10:53:29 PHYSICS, BUT THE BATTERY CAPABILITY TO STORE HUGE NUMBERS 10:53:34 OF ELECTRONS DOESN'T REALLY SEEM IT'S READY FOR COMMERCIAL USE IN 10:53:38 THE NEXT DECADE. NOW, THAT SAID, I'M FROM 10:53:44 LOUISIANA. HYDRO POWER ABILITY IS LIMITED. 10:53:46 CLEARLY THE REASON WIND WORKS IN DENMARK IS BECAUSE THEY HAVE 10:53:50 LOTS OF HYDRO POWER. IF THE BASE GOES DOWN FROM WIND, 10:53:54 THEY CAN RAMP UP WITH HYDRO POWER. 10:53:57 IN MY STATE, THE PEAKING WILL BE COAL OR NATURAL GAS. 10:54:01 YOU GET THE HIGHER COST OF R 10:54:06 RENEWABLES. WHAT DO WE DO ELSEWHERE? 10:54:08 FIRST, DENMARK HAS ACCESS TO OTHER GRIDS. 10:54:12 DENMARK THEMSELVES. I DON'T BELIEVE IT HAS 10:54:14 HYDROPOWER. SWEDEN IS WHAT I WAS 10:54:16 REFERRING TO. THE POINT IS THAT THEY HAVE 10:54:19 ACCESS TO OTHER SOURCES OF ENERGY OUTSIDE THEIR OWN 10:54:21 BORDERS. IN TERMS OF BATTERIES, WE'RE 10:54:31 PRETTY CERTAIN THAT, THE NEXT COUPLE OF YEARS, THE BATTERY 10:54:35 STORAGE TECHNOLOGY THAT BEGINS TO GO TO UTILITY SCALE WILL BE 10:54:39 DROPPING PERHAPS BY 50%. BUT WILL IT BE ADEQUATE TO 10:54:43 SAY POWER WASHINGTON, D.C. IF WE HAVE WINDMILLS TURNING AND THE 10:54:46 WIND STOPS TO BLOW OR THE NIGHT COMES OR THE CLOUDIEST DAY WILL 10:54:51 HAVE SUFFICIENT POWER TO POWER WASHINGTON, D.C.? 10:54:53 I THINK IT'S GOING TO BE TAKING SEVERAL DECADES TO 10:54:57 TRANSITION TO RENEWABLES, BUT TO GET TO 10, 20, 30% RENEWABLES, 10:55:01 YOU CAN GET TO 20%, POSSIBLY 30, WITHOUT ENERGY STORAGE, BUT 10:55:08 ENERGY STORAGE WILL BE AN INCREASINGLY IMPORTANT PART. 10:55:11 OBVIOUSLY, THE PEAKING PLANTS WILL STILL BE NECESSARY IN WHICH 10:55:15 CASE YOU STILL HAVE YOUR EMISSIONS. 10:55:17 I YIELD BACK. AT THIS TIME, RECOGNIZE THE 10:55:20 GENTLEMAN FROM WASHINGTON, MR. ENSLEY, FOR FIVE MINUTES. 10:55:24 THANK YOU. I WAS EXCITED ABOUT YOUR 10:55:26 COMMENTS ABOUT PERSPECTIVE GAINS IN SOLAR. 10:55:29 I JUST READ TA CLINER PER KINS, THE FOLKS THAT STARTED GOOGLE 10:55:36 JUST MADE A BIG INVESTMENT. 30% EFFICIENCY FOR SOLAR CELLS. 10:55:46 CAN YOU TELL ME WHY YOU THINK WE CAN GET THESE ADVANCEMENTS FOR 10:55:49 SOLAR AND WHAT THEY ARE? REALISTIC PROJECTIONS WITHIN 10:55:54 THE DECADE ARE WITHIN A 50% DROP AND 70% DROP IN COST. 10:55:59 NOT ONLY IS A MODULE, BUT INCLUDES INSULATION COSTS, 10:56:04 ELECTRONICS COSTS, THE FULL COST. 10:56:07 WE DON'T KNOW WHICH OF THE TECHNOLOGIES WILL WORK BECAUSE 10:56:11 SILICON CONTINUES TO MAKE DRAMATIC STRIDES AND WE'RE 10:56:16 ESPECIALLY OF THE MANUFACTURING OF SILICON 10:56:22 CELLS. THERE'S SOME WONDERFUL IDEAS OUT 10:56:24 THERE THAT ARE BEING PURSUED BY COMPANIES AND RESEARCHERS. 10:56:29 THERE'S ALSO A NUMBER OF FILM TECHNOLOGIES. 10:56:32 IF YOU LOOK AT THESE AREAS AND ALL THE COMPANIES ARE LOOKING AT 10:56:37 EACH OTHER, WE ALSO NEED TO INCREASE THE EFFICIENCY. 10:56:40 SILICON IS NOW IN THE LOW 20% E 10:56:44 EFFICIENCY. WE EXPECT IT TO MAKE CLIMBS IN 10:56:48 EFFICIENCY. THE THIN FILM TECHNOLOGIES ARE 10:56:52 ALSO BEGINNING TO MAKE SIGNIFICANT INCREASES. 10:56:54 SO, THERE IS A GREAT DEAL OF EXCITE 10:57:00 EXCITEMENT. WHEN I TALK TO THE 10:57:02 MANUFACTURERS, THEY'RE PRETTY CERTAIN THIS DROP WILL OCCUR IN 10:57:05 THIS DECADE, BUT WE THINK IT CAN BE BETTER AND THAT'S WHAT WE'RE 10:57:10 FOCUSED ON. THE REPUBLICAN BUDGET HAS 10:57:13 PROPOSED A RENEWABLE ENERGY PORTFOLIO AND 10:57:21 ABOUT HALF OF THAT CUT FOR NUCLEAR. 10:57:23 THAT JUST DOESN'T MAKE ANY SENSE TO ME. 10:57:26 IT WOULD SEEM WE HAVE A BALANCED PORTFOLIO. 10:57:29 WE HAVE GREAT STRIDES. WOULD YOU WANT TO COMMENT ON 10:57:31 THAT? I THINK WE WOULD LIKE TO SEE 10:57:33 RESEARCH IN BOTH. JUST AS WE'D LIKE TO SUPPORT THE 10:57:39 ENGINEERING FOR SMALL MODULAR REACTORS. 10:57:41 THE ENGINEERING FOR LOOKING AT HOW WE CAN IMPROVE BOTH THE 10:57:47 SAFETY AND PRODUCTIVITY OF FUTURE NUCLEAR POWER PLANTS. 10:57:50 WE THINK IN A BALANCED APPROACH, WE SHOULD BE LOOKING AT 10:57:56 RENEWABLES AS WELL. THANK YOU. 10:57:58 I WANT TO ASK ABOUT YUCCA MOUNTAIN. 10:58:05 WE'VE PAID ABOUT $300 MILLION INTO THE NUCLEAR WASTE FUND. 10:58:10 WE'RE TOLD THAT THE OFFICE OF CIVILIAN RADIO ACTIVE WASTE IS 10:58:16 PROPOSED TO BE JUT DOWN THAT WAS RESPONSIBLE FOR MOVING FORWARD. 10:58:18 IN THE STATE OF WASHINGTON, WE HAVE HAD 53 MILLION GALLONS OF 10:58:23 RADIO ACTIVE WASTE STORED IN UNDERGROUND TANKS. 10:58:26 WE NEED A SOLUTION. RIGHT NOW, WE DON'T SEE A VIABLE 10:58:29 PROPOSAL BY THE ADMINISTRATION IN THIS REGARD AND WOULD LIKE TO 10:58:32 SEE ONE IN THE NEAR FUTURE. COULD YOU GIVE US WHAT OPTIONS 10:58:37 YOU INTEND TO PUT ON THE TABLE? FIRST, AS YOU WELL KNOW, THE 10:58:48 WASTE TREATMENT PLAN AT HAM FORD HAS GOTTEN A LOT OF ATTENTION 10:58:53 FROM ME AND MY SECRETARY. WE PUT IT ON THE TABLE, FIRST 10:58:58 BOTH THE CONTRACTOR AND ALL THE PEOPLE IN THE DOE INVOLVED AND 10:59:03 WE HAVE EIGHT TEAMS THERE. WE'RE

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OBAMA JAPAN PM JOINT PRESSER

FTG OF PRESIDENT BARACK OBAMA HOLDS A PRESS CONFERENCE WITH PRIME MINISTER NODA OF JAPAN Monday, April 30, 2012 TRANSCRIPT: Joint Press Conference with President Barack Obama and Japanese Prime Minister Yoshihiko Noda SLUG: 1400 WH JAPAN STIX RS37 83 AR: 16X9 DISC#679 NYRS: 5114 (Note: The prime minister's remarks are provided through interpreter.) 14:15:56 walk in PRESIDENT BARACK OBAMA: Please be seated. 14:16:05 Good afternoon, everybody. It is a great pleasure to welcome Prime Minister Noda of Japan, and one of America's closest allies in the Asia-Pacific region but also around the world. And of course one of the reasons that we enjoy such a strong alliance between our nations is because it's rooted in the deep friendship between our peoples. I've felt it in my own life during my visits to Japan, including as a young boy, and we've seen that friendship on display very profoundly over the past year. Last month we marked the first anniversary of the great east Japan earthquake and tsunami and nuclear crisis that followed. All across Japan, people stopped and stood in silence at 2:46 p.m., the moment that the earth shook. Mr. Prime Minister, on behalf of the American people, I want to say, to you and the people of Japan, we continue to stand with you as well. We stand with Japan in honoring the lost and the missing -- 19,000 men, women and children who will never be forgotten. We stand with you as you rebuild -- what you, Mr. Prime Minister, have called the rebirth of Japan. And we stand with Japan in the Asia-Pacific and beyond, because even as it has focused on the hard work at home, Japan has never stopped leading in the world. It is a great tribute to the Japanese people and to leaders like Prime Minister Noda. 14:17:44 I'm told that over the past year many Japanese have found strength in what they call "kizuna," the bonds of solidarity between friends and neighbors, bonds which cannot be broken. And Mr. Prime Minister, the same could be said of the bonds between the United States and Japan, and today we welcome you in that spirit. As president, I've worked to strengthen the ties between our two nations since my first days in office. And when Prime Minister Noda and I first met last September, we agreed to modernize our alliance to meet the needs of the 21st century. And Mr. Prime Minister, I want to thank you for the personal commitment that you've brought to this effort. You've called the alliance with the United States Japan's "greatest asset," and in our work together, we've seen your trademark determination and humility. In fact, during our discussions today, the prime minister compared his leadership style to that of a point guard in basketball. He may not be the flashiest player, but he stays focused and gets the job done. He's brought that same sense of teamwork to our partnership, and it's helped make this visit a milestone in the history of our alliance. I'm proud to announce that we have agreed to a new joint vision to guide our alliance and help shape the Asia Pacific for decades to come. This is part of the broader effort I discussed in Australia last year in which the United States is once again leading in the Asia Pacific. 14:19:06 First, we recognize that the U.S.-Japan alliance will remain the foundation of the security and prosperity of our two nations, but also a cornerstone of regional peace and security. As such, we reviewed the agreement that our governments reached last week to realign American forces in Japan. This reflects our effort to modernize America's defense posture in the Asia Pacific with forces that are more broadly distributed, more flexible and more sustainable. At the same time it will reduce the impact on local communities like Okinawa. Second, our joint vision commits us to deepening our trade and investment. We're already among each other's top trading partners and our exports to Japan and Japanese companies here in the U.S. support more than 1 million American jobs. But there's more we can do, especially as we work to double U.S. exports. So I appreciate the prime minister updating me on his reform efforts in Japan, including liberalizing trade and playing a leading role in Asia Pacific's economy. We instructed our teams to continue our consultation regarding Japan's interest in joining the Trans-Pacific Partnership, which would benefit both our economies and the region. And we agreed to deepen our cooperation on nuclear safety, clean energy and cybersecurity to enhance our economic competitiveness. Third, our joint vision lays out the future we seek in the Asia- Pacific: a region where international rules and norms are upheld, where nations contribute to regional security, where commerce and freedom of navigation is not impeded and where disputes are resolved peacefully. 14:20:46 As such, we continue our close consultations on the provocative actions of North Korea, which are a sign of weakness and not strength and only serve to deepen Pyongyang's isolation. And we discussed the changes under way in Burma and how our two nations can both reward progress there while encouraging more reforms that improve the lives of the Burmese people. 14:21:10 Fourth, our joint vision reaffirms our role as global partners bound by shared values and committed to international peace, security and human rights. For example, our nations are the largest donors in Afghanistan. As we plan for the NATO summit in Chicago and the next phase of the transition in Afghanistan, Japan is planning for a donor conference to sustain development there. I also want to take this opportunity to commend the prime minister and Japan for showing such strong leadership with regard to Iran's nuclear program. The regime in Tehran is now feeling the economic screws tighten, and one of the reasons is that countries like Japan made the decision to reduce oil imports from Iran. And this is just one more example of how despite challenging times at home, Japan has continued to serve as a model and a true global leader. 14:22:02 Finally, our joint vision commits us to deepening the ties between our peoples. This includes new collaborations between our scientists, researchers and entrepreneurs to foster innovation, and it includes new exchanges that will bring thousands of our young people together, including high school students, to help Japanese communities rebuild after last year's disasters. So again, Mr. Prime Minister, thank you for helping to revitalize our extraordinary alliance so that we enjoy even greater security and prosperity for both our countries. And I once again want to salute the people of Japan for the strength and the resilience and the courage that they've shown during this past year. More than ever, the American people are proud to call you a friend, and honored to call you an ally. 14:22:51 And before I turn it over to the prime minister, I just want to warn the American press that the prime minister once considered himself a journalist, and instead he became a Judo expert. He is a black belt. (Laughter.) So if you get out of line, I've got some protection here. Mr. Prime Minister. 14:23:20 PRIME MINISTER YOSHIHIKO NODA: (Interpreter in progress) -- to thank President Obama for the warm welcome and hospitality, as I know how busy he is with official duties. I had a very good exchange of views with the president today on bilateral relations between Japan and the United States, the situation in the Asia-Pacific region, and various and global challenges, among others. We were able to confirm from broader perspectives the present-day significance of the Japan-U.S. alliance and where the Japan-U.S. relations should be headed in the longer -- in the longer term. The president just now spoke about U.S. support. And I would like to take this opportunity to say thank you for all the unsparing support given by government and people of the United States, starting with Operation Tomodachi conducted by U.S. forces at the time of the Great East Japan Earthquake of last year. 14:24:28 Yesterday I met with the bereaved families of Taylor Anderson, who unfortunately passed away, but who took care of children until the very last moment following the Great East Japan Earthquake. Also, I met with representatives of the Fairfax County search-and-rescue team who, immediately following the earthquake, deployed in the district -- the most affected region to help the people. So I was able to see -- meet myself with these true friends of Japan. Now, I've always held the conviction that our bilateral alliance is the linchpin of Japan's diplomacy. Having had conversations with my -- with U.S. friends yesterday only renews my conviction that Japan-U.S. alliance must be unchangeable and, in fact, be unshakable. Now, as -- (inaudible) -- such conviction, I am particularly gratified that we're able to announce today the Japan-U.S. shared vision -- (inaudible) -- spells out that -- (inaudible) -- Japan and the United States will -- (inaudible) -- peace and prosperity, not only in the Asia-Pacific -- (inaudible) -- by making full use of their respective capabilities -- (inaudible) -- as well. 14:26:26 (Inaudible) -- the president of the DPRK. In other words, major opportunities and challenges exist side by side in the region. To cope with such conditions, we are determined, as spelled out in the shared vision, to realize the new U.S. forces realignment plan in accordance with the Security Consultative Committee, or 2+2, in joint statement released the other day, and to step up bilateral security and defense cooperation in a creative manner. We also need to work with regional partners and to build a multilayered network that is open and comprehensive and built on international rules, utilizing such frameworks as trilateral dialogues among Japan-U.S.-ROK and Japan-U.S.-Australia, the East Asia Summit and the APEC. From this point of view, we shall also cooperate with China, which is an important partner. It is also important that Japan and the United States cooperate to promote necessary rules-making in the areas of nontraditional threats such as terrorism, proliferation of weapons of mass destruction and piracy as well as human security and peace-building and (civil ?) assistance, ocean, space and cyberspace. 14:27:38 In the economic area, we shall deepen bilateral economic ties and fortify the growth and prosperity of two countries through their promotion of economic integration in the Asia-Pacific region. And to this end, both our countries will work on regional trade and investment rules-making, with a view to building an FTOP, or the free trade area of the Asia-Pacific. From this vantage point as well, we shall advance in consultations with a view to participating in the Trans-Pacific Partnership negotiations. The common -- the -- the shared vision also calls for further strengthening of the energy cooperation, and we discussed in our meeting today expanding L&G exports from the United States to Japan. Last, but not the least, as stated in the shared vision, it is important to boost exchanges among next-generation youth in the interest of the future of the Japan-U.S. alliance. We will further step up people-to-people exchanges among youth through such endeavors as Japan's -- (inaudible) -- project and U.S. Tomodachi Initiative. Japan-U.S. alliance has reached new heights. Together with President Obama, I shall firmly advance these steps. I thank you. PRESIDENT OBAMA: So we've got the two question on each side. We're going to start Laura McGuinness of Reuters. Q: President Obama, could you confirm whether the blind Chinese dissident, Cheng Guangcheng (ph), is under U.S. protection in Beijing? And how do you foresee that situation being resolved? Would the United States grant him asylum if he asked for it? And Prime Minister Noda, how likely do you think it is that North Korea will carry out a third nuclear test? How would Japan respond to such a test, and what would you like the U.S. to do to respond? 14:29:32 PRESIDENT OBAMA: Obviously I'm aware of the press reports on the situation in China, but I'm not going to make a statement on the issue. What I would like to emphasize is that every time we meet with China, the issue of human rights comes up. It is our belief that not only is that the right thing to do because it comports with our principles and our belief in freedom and human rights, but also because we actually think China will be stronger as it opens up and liberalizes its own system. We want China to be strong and we want it to be prosperous, and we're very pleased with all the areas of cooperation that we've been able to engage in. But we also believe that that relationship will be that much stronger and China will be that much more prosperous and strong as you see improvements on human rights issues in that country. 14:30:45 I know it wasn't directed at me, but I'll just make a quick statement around North Korea. This was a topic of extensive discussion between myself and Prime Minister Noda. Our consultation throughout the failed missile launch was, I think, reflective of how important our alliance is, not just to our two countries but to the region as a whole. And what I've tried to do since I came into office, to make sure that North Koreans understand that the old pattern of provocation that then gets attention and somehow insists on the world purchasing good behavior from them -- that that pattern is broken. And what we've said is, is that the more you engage in provocative acts, the more isolated you will become, that stronger sanctions will be in place, the more isolated you will be diplomatically, politically and commercially. And so although we can't anticipate and I don't want to hypothesize on what might happen in the coming months, I think Pyongyang is very clear that the United States, Japan, South Korea, other countries in the region are unified in insisting that it abide by its responsibilities, abide by international norms, and that they will not be able to purchase anything from further provocative acts. 14:32:24 PRIME MIN. NODA: With regard to North Korea, between myself and President Obama earlier, we -- with regard to the so-called launch of satellite, the missile launch, we share the view that it undermines the efforts of the various countries concerned to achieve the resolution through the dialogue. Now in the latest round of missile launch, they also conducted a nuclear test, which means that there is a great possibility they will conduct a nuclear test. And I believe the international community as all together will need to call for restraint on the part of DPRK. And more specifically, I believe the measures incorporated in the recent U.N. Security Council chairman's statement need to be complied with. And among Japan, the U.S. and Korea, as well as China and Russia, we need to communicate with each other fully and also stress that China's role continues to be very important and cooperate with China while also maintaining close coordination with the United States. And we share this view with President Obama. And let me ask Mr. Imaichi (ph) of TBS from Japan to ask a question. Q: (Through interpreter.) Imaichi (ph) with TBS television. And I have a question for both President Obama and Prime Minister Noda. How do you regard the Futenma relocation issue in the context of this joint statement, although you did not refer specifically to Futenma relocation? And the interim report on U.S. Forces-Japan realignment -- that leaves this question open to some extent. And what do you think of the possibility that the if the Marine station ultimately will be relocated to a place other than Henoko, as agreed to between Japan and the United States? 14:34:46 PRIME. MIN. NODA: It may -- now it is most meaningful that in the two-plus-two joint statement, as well as the summit meeting today, that we were able to confirm that our two countries will cooperate in the context of a deepening bilateral alliance towards the realization of the optimum U.S. force posture in the region and the reduction of the burden on Okinawa. And we'll continue to work for an early resolution of this issue by taking in account the development of the -- (development to date ?). 14:35:18 PRESIDENT OBAMA: Well, the -- as the prime minister just noted, we think that the realignment approach that's being taken is consistent with the security interests of both Japan and the United States. We think we've found an effective mechanism to move this process forward in a way that is respectful of the situation in Okinawa, the views of residents there, but also is able to optimize the defense cooperation between our two countries and the alliance that's the linchpin not just of our own security but also security in the region as a whole. So we're confident that we can move forward with a -- an approach that realigns our base posture or our deployments but also is continuing to serve the broad-based interests of our alliance as a whole. And I want to thank publicly Prime Minister Noda for having taken such a constructive approach to an issue that has been lingering in our bilateral relationship for quite some time. Christi Parsons. Q: Thank you, Mr. President. We're coming up on the one-year anniversary of the killing of bin Laden. I wonder if you would share some thoughts on that anniversary. And I also wanted to mention that your likely opponent says anybody would have made that call, even Jimmy Carter. So I'm curious to see what you would say about that. And Mr. Prime Minister, if I may, on the same topic, you mentioned the international fight against terrorism in your opening remarks, and I wonder if you could reflect on president Obama's record here, and if you think from an international perspective the U.S. is playing it right in marking this anniversary or if you think you might advise against excessive celebration. 14:37:16 PRESIDENT OBAMA: Well, let me make a couple of points. First of all, Christi, I hardly think that you've seen any excessive celebration taking place here. I think that people -- the American people rightly remember what we as a country accomplished in bringing to justice somebody who killed over 3,000 of our citizens. And it's a mark of the excellence of our intelligence teams and our military teams, a political process that worked. And I think for us to use that time for some reflection, to give thanks to those who participated, is entirely appropriate, and that's what's been taking place. 14:38:41 As far as my personal role and what other folks would do, I'd just recommend that everybody take a look at people's previous statements in terms of whether they thought it was appropriate to go into Pakistan and take out bin Laden. I assume that people meant what they said when they said it. That's been at least my practice. I said that I'd go after bin Laden if we had a clear shot at him, and I did. If there are others who have said one thing and now suggest they'd do something else, then I'd go ahead and let them explain it. 14:39:14 PRIME MIN. NODA: President Obama has been standing at the very forefront in the fight against terrorism, and I hold him in very high regard for that. Although bin Laden has been killed, terrorism has not been rooted out. And I think continued efforts will be needed. In cooperation with the United States, we also would like to continue with our efforts against terrorism. I think forms of terrorism are becoming very diverse, amongst them cyberterrorism, for example. And -- (inaudible) -- between Japan and United States, not just in -- (inaudible) -- in the space and ocean -- (inaudible) -- also decide to cooperate in cybersecurity as well. So inclusive of all of these, Japan and United States shall work together to root out terrorism of all sorts. Let me call upon Takaaki-san (ph) of Mainichi Shimbun. Q: (Through interpreter.) I'm Takaaki (ph) with Mainichi newspaper, and I would like to ask a question for Prime Minister Noda and President Obama. There is no direct reference to China in this joint statement. What sort of exchange of views did you have on China in the context of working for stability in the Asia-Pacific connected with their advances in the oceans and also military buildup? I wonder what sort of interlocution you had on this subject. 14:40:48 PRIME MIN. NODA: Let me answer first. As you correctly pointed out, the shared vision does not refer to any specific country. But we recognize China as a major partner in the region and, in our exchange of views, both of us, in fact -- in fact, confirmed that -- (inaudible) -- China's development is an opportunity, it's -- for the international community, for Japan and for the Asia-Pacific. Now, I explained in the meeting to President Obama that when I visited China last December, I broached to Chinese leaders my six- point initiative, including confidence building and cooperation in the East China Sea in order to further advance our mutually beneficial relationship based on common strategic interests and that I'll work steadily to implement this. I also told the president that I wished to realize a strategic dialogue among Japan, U.S. and China. Now, EAS last year, we were of the view that it was a success and, of course, ASEAN countries also part of the discussions, that we need to seek a rules-based response or behavior from the Chinese and we had these exchange(s) of views. 14:42:13 PRESIDENT OBAMA: Yeah, I -- I think that I've said in the past and firmly believe that we welcome a -- a peacefully rising China. And we have developed a very important strategic and economic dialogue with China. We think what they've accomplished in terms of lifting millions of people out of poverty is good for its own sake, and it's also potentially good for the world and for the region. As Prime Minister Noda and I noted, we do believe that as China continues to grow, as its influence continues to expand, that it has to be a strong partner in abiding by international rules and norms -- whether those are economic norms, like respecting intellectual property; whether these are norms of dispute resolution, so in -- in maritime disputes ensuring that small countries and large countries are both respected in international fora in resolving these issues -- that across the board, we want China to be a partner with us in a set of international rules and norms that everybody follows. And I think as China makes that transition from a developing country into a major power, that it will see that over the long term it is in its interests as well to abide by these rules and norms. And so all of our actions are not designed to in any way contain China, but they are designed to ensure that they are part of a broader international community in which rules, norms are respected, in which all countries can prosper and succeed. 14:44:11 Thank you very much, everybody. 14:44:16 handshake

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SOLYNDRA HEARING 0900

House oversight and investigations subcommittee hearing of the house energy and commerce with Brian Harrison, president and CEO of Solyndra, W.G. "Bill" Stover the chief financial officer. 09:03:22 GOOD MORNING, EVERYBODY. 09:03:27 THE COMMITTEE ON OVERSIGHT AND ENERGY AND COMMERCE COMMITTEE 09:03:29 WILL COME TO ORDER. MY COLLEAGUES, BEFORE WE BEGIN 09:03:32 TODAY, I'D LIKE TO ADDRESS THE PROCEDURES USED AT THIS HEARING. 09:03:37 I CALL RANKING MEMBER TO GET YESTERDAY EVENING TO CONSULT 09:03:40 WITH HER ABOUT TODAY'S HEARING. RANKING MEMBER DEGET AND I 09:03:44 AGREED TO THE POLLING PROCESS FOR OPENING STATEMENTS AND 09:03:48 QUESTIONS. I WILL RECOGNIZE MYSELF AND 09:03:50 RANKING MEMBER DEGET FOR FIVE-MINUTE OPENING STATEMENTS. 09:03:53 THEN EACH MEMBER OF THE COMMITTEE WILL BE ABLE TO GIVE A 09:03:59 TWO-MINUTE OPENING STATEMENT. 09:04:01 AFTER SWEARING IN THE WITNESSES, YOU WILL EACH HAVE 10 MINUTES TO 09:04:04 ASK QUESTIONS OF THE WITNESSES. WE'LL START WITH FIVE MINUTES 09:04:14 FOR QUESTIONS FROM MAJORITY MEMBERS THEN FIVE MINUTES FOR 09:04:19 MINORITY MEMBERS THEN REPEAT. I'D LIKE TO THANK THE RANKING 09:04:22 MEMBER, DISTINGUISHED MEMBER FOR HER SUPPORT AND NOW I RECOGNIZE 09:04:25 MYSELF FOR FIVE MINUTE OPENING. GOOD MORNING, EVERYBODY. 09:04:54 WE CONVENE THIS HEARING ON THE OVERSIGHT SESSIONS TO EXAMINE 09:04:59 WHAT THE EXECUTIVES KNEW ABOUT THE COMPANY'S FINANCIAL 09:05:02 CONDITION AND HOW IT REPRESENTED THAT CONDITION TO THE DEPARTMENT 09:05:07 OF ENERGY, THE WHITE HOUSE, AND MEMBERS OF THIS COMMITTEE. 09:05:10 JUST TWO YEARS AGO AFTER YOU RECEIVED YOUR $535 MILLION LOAN 09:05:18 GUARANTEE AND SIX MONTHS AFTER THE DEPARTMENT OF ENERGY 09:05:23 RESTRUCTURED THE DEAL, SOLYNDRA LAID OFF OVER 1,000 WORKERS. 09:05:30 FILED FOR BANKRUPTCY HAS BEEN RATED BY THE FBI. 09:05:35 YET, ONLY TWO MONTHS AGO SOLYNDRA'S CEO MET WITH ME IN 09:05:40 THE COMMITTEE OFFICES. HE LOOK ME IN THE EYE AND ASSURE 09:05:43 ME THAT EVERYTHING WAS JUST FINE. 09:05:44 AND THE COMPANY WAS ON TRACK TO BE CASH FLOW POSITIVE. 09:05:48 MR. HARRISSON TOLD ME AND OTHER MEMBERS OF THIS COMMITTEE THAT 09:05:53 SOLYNDRA WAS CONTINUING TO MAKE EXCELLENT PROGRESS, THAT IT WAS 09:05:56 MEETING ALL ITS COSTS AND PERFORMANCE MILESTONES AND THAT 09:06:00 REVENUES WERE PROJECTED TO NEARLY DOUBLE IN 2011. 09:06:05 I WAS HOPING THAT MR. HARRISSON WOULD TESTIFY TODAY AND EXPLAIN 09:06:08 TO ME AND TO THIS COMMITTEE HOW HE COULD MAKE THOSE 09:06:14 REPRESENTATIONS IN LATE-JULY ABOUT SOLYNDRA IMPROVING 09:06:18 PROSPECT WHEN THE COMPANY WAS ON THE PATH TO BANKRUPTCY JUST 30 09:06:23 DAYS LATER. IT SEEMS CLEAR TO ME THAT MR. 09:06:28 HARRISSON KNEW OR SHOULD HAVE KNOWN IN JULY THAT COMPANY WAS 09:06:30 GOING TO RESTATE ITS FINANCIAL PROJECTIONS TO REFLECT 09:06:34 INCREASING MARKET AND PRICING PRESSURE ON ITS PRODUCTS 09:06:38 RESULTING IN DECREASED REVENUE. WHEN THE COMMITTEE INVITED MR. 09:06:43 HARRISSON AND MR. STOVER TO TESTIFY AT LAST WEEK'S HEARING, 09:06:49 SOLYNDRA'S COUNSEL SAID HE WOULD APPEAR VOLUNTARILY AND WOULD 09:06:53 ANSWER THE COMMITTEE'S QUESTIONS, HOWEVER, THEY ASKED 09:06:55 THE COUNSEL TO POSTPONE THEIR TESTIMONY BY ONE WEEK. 09:06:59 CLAIMING THAT MR. HARRISSON AND MR. STOVER WERE INVOLVED IN 09:07:03 ACTIVE NEGOTIATIONS TO POTENTIALLY SELL THE COMPANY AND 09:07:06 THAT AN EARLIER SALE MIGHT POTENTIALLY RESULT IN A BETTER 09:07:09 RECOVERY FOR THE TAXPAYER AT THE COMPANY'S BANKRUPTCY. 09:07:14 I AGREED TO THIS REQUEST AND PROVIDED THAT MR. HARRISON 09:07:20 APPEAR THIS WEEK AND TESTIFY. IN ATTEMPT BY POSTPONING HIS 09:07:24 TESTIMONY BY ONE WEEK, I WAS PROVIDE WRITTEN ASSURANCE THAT 09:07:28 MR. HARRISON WOULD ANSWER THE COMMITTEE'S QUESTIONS. 09:07:34 UNFORTUNATELY, WE WON'T GET THOSE ANSWERS TODAY. 09:07:36 MR. HARRISON AND MR. STOVER'S COUNSEL INFORMED THE COMMITTEES 09:07:40 THREE DAYS AGO THAT THEY WOULD DECLINE TO ANSWER THE 09:07:43 COMMITTEE'S QUESTIONS AND WOULD INVOKE THEIR RIGHTS UNDER THE 09:07:47 FIFTH AMENDMENT TO THE UNITED STATES CONSTITUTION. 09:07:51 I RESPECT THE WITNESSES RIGHTS UNDER THE FIFTH AMENDMENT. 09:07:55 BUT I WANT TO MAKE IT CLEAR TODAY THOUGH THAT THIS 09:07:58 SUBCOMMITTEE'S INVESTIGATION WILL CONTINUE. 09:08:01 WE'VE BEEN ASKING QUESTIONS ABOUT THIS DEAL SINCE FEBRUARY 09:08:04 OF THIS YEAR. WE'LL GET TO THE BOTTOM OF WHY 09:08:07 THIS LOAN WAS PUSHED OUT TO A COMPANY WHOSE LIQUIDITY ISSUES 09:08:11 WERE A MAJOR ISSUE TO DEPARTMENT OF ENERGY STAFF REVIEWING THE 09:08:15 LOAN BACK IN 2009. AND WHICH ULTIMATELY CAUSED ITS 09:08:21 BANKRUPTCY. WE ALSO FIGURE OUT JUST HOW DOE 09:08:26 CONCLUDED THAT RESTRUCTURING THE DEAL POSITIONED THE U.S. 09:08:29 TAXPAYER FOR MAXIMUM RECOVERY. WHEN DOCUMENTS PRODUCED TO THE 09:08:35 COMMITTEE SHOWED THAT OMB STAFF DOUBTED IT WOULD PREVENT A 09:08:41 SOLYNDRA BANKRUPTCY OR RESULT IN GREATER RECOVERY FOR THE 09:08:44 GOVERNMENT. WE'RE ALSO DETERMINED TO KNOW 09:08:47 WHY DOE ALLOWED THE TAXPAYERS TO BE SUBORDERNATURED DURING THAT 09:08:57 RESTRUCTURING IN CLEAR LETTER OF THE LAW. 09:08:59 WHAT WE DO NOT KNOW IS WHETHER THE SOLYNDRA EXECUTIVES HERE 09:09:05 TODAY HAVE SOMETHING TO HIDE. WAS ALL THE INFORMATION THEY 09:09:08 SUBMITTED TO D.O.E. ACCURATE AND COMPLETE? 09:09:11 WHAT DID THEY KNOW ABOUT THEIR FINANCIAL SITUATION AND WHEN DID 09:09:15 THEY KNOW IT? HOW DID THEY REPRESENT IT TO 09:09:17 OTHERS INCLUDING THIS COMMITTEE? WHAT DID D.O.E. UNDERSTAND ABOUT 09:09:23 SOLYNDRA'S FINANCIAL SITUATION? DID D.O.E. KNOW WHAT THEY WERE 09:09:26 DOING AND DID THEY PROPERLY MONITOR SOLYNDRA AND THE 09:09:31 TAXPAYER'S MONEY BEING USED TO PROP SOLYNDRA UP? 09:09:34 THESE ARE ALL THE QUESTIONS I WOULD HAVE LIKE TO HAVE RECEIVE 09:09:38 ANSWERS FROM OUR WITNESSES TODAY. 09:09:41 CONGRESS AND THE AMERICAN TAXPAYERS HAVE A RIGHT TO KNOW 09:09:44 WHETHER THIS LOAN GUARANTEE WAS RUSHED OUT THE DOOR BEFORE IT 09:09:47 WAS READY FOR PRIME TIME, WHETHER THE ADMINISTRATION 09:09:51 DOUBLED DOWN ON A BAD BET AFTER KNOWING THE COMMERCIAL PROSPECT 09:09:59 OR EVEN WORSE, WHETHER $535 MILLION OF TAXPAYERS DOLLARS 09:10:04 WERE WASTED ON FALSE OR INCOMPLETE INFORMATION. 09:10:07 WE INTEND TO GET THOSE ANSWERS. AND THAT CONCLUDES MY STATEMENT. 09:10:11 WITH THAT, I RECOGNIZE THE RANKING MEMBER MISS DEGET FOR 09:10:16 HER OPENING STATEMENT. THANK YOU, MR. CHAIRMAN. 09:10:19 MR. CHAIRMAN, TWO WEEKS AGO RANKING MEMBER WAXMAN AND I 09:10:24 REQUESTED THAT THIS COMMITTEE SEEK TESTIMONY FROM BRIAN 09:10:28 HARRISON. I'M PLEASED THAT THE 09:10:31 SUBCOMMITTEE SOUGHT THE TESTIMONY OF MR. MR. HARRISON 09:10:32 AND HIS COLLEAGUE MR. STOVER FOR TODAY'S HEARING. 09:10:35 I RESPECT THAT WITNESSES APPEARING BEFORE THE COMMITTEE 09:10:38 HAVE THE RIGHT TO INVOKE THEIR CONSTITUTIONAL RIGHTS UNDER THE 09:10:42 FIFTH AMENDMENT. BUT I'M DISAPPOINTED THAT THE 09:10:44 EXECUTIVES HERE TODAY WON'T BE RESPONDING TO QUESTIONS. 09:10:48 I BELIEVE THAT THEIR TESTIMONY WOULD GREATLY INFORM THE 09:10:52 SUBCOMMITTEES INVESTIGATION OF THE DEPARTMENT OF ENERGY LOAN 09:10:56 GUARANTEE TO SOLYNDRA. I HOPE ONCE THE CONSTITUTIONAL 09:11:00 QUESTIONS ARE RESOLVED THAT THEY WILL BE ABLE TO RETURN AND 09:11:05 TESTIFY VOLUNTARILY. NONETHELESS, MR. CHAIRMAN, I'M 09:11:06 GLAD THAT THE SUBCOMMITTEE WILL CONTINUE TO EXAMINE KEY 09:11:09 QUESTIONS RELATING TO THE SOLYNDRA LOAN GUARANTEE. 09:11:14 I NOTED IN MY STATEMENT AT THE SEPTEMBER 14th HEARING, IT'S 09:11:18 CRITICALLY IMPORTANT THAT WE UNDERSTAND A NUMBER OF FACTORS. 09:11:22 FIRST, WHETHER THE BUSH AND OBAMA ADMINISTRATIONS CONDUCTED 09:11:25 DUE DILIGENCE ON THE LOAN GUARANTEE. 09:11:28 WHETHER SOLYNDRA MADE ACCURATE REPRESENTATIONS TO THE 09:11:32 GOVERNMENT. WHETHER THE ADMINISTRATION 09:11:34 SUFFICIENTLY MONITORED THE FINANCIAL STATUS OF SOLYNDRA, 09:11:38 PARTICULARLY AS MARKET FORCES SEEM TO BE AGAINST THE COMPANY. 09:11:41 AND FINALLY, WHETHER THE GOVERNMENT MADE CORRECT 09:11:45 DECISIONS ABOUT RESTRUCTURING THE LOAN. 09:11:47 BUT IN ADDITION TO OUR SPECIFIC CONCERNS AROUND THIS LOAN, IT'S 09:11:51 ALSO IMPERATIVE THAT THE SUBCOMMITTEE EXAMINE THESE 09:11:54 ISSUES IN THE BROADER CONTEXT OF HOW GOVERNMENT SHOULD SUPPORT 09:11:58 DEVELOPMENT OF OUR NATION'S CLEAN ENERGY TECHNOLOGY 09:12:03 INDUSTRY. THE UNITED STATES HAS AN 09:12:05 UNPARALLELED HISTORY OF INNOVATION. 09:12:08 AND AT THE BEGINNING OF THE 21st CENTURY, IT WOULD BE TO OUR 09:12:12 LONG-TERM ECONOMIC PERIL IF WE SEEK LEADERSHIP TO ANY OTHER 09:12:16 NATION IN CLEAN ENERGY TECHNOLOGY DEVELOPMENT. 09:12:18 TO ADVANCE THE SUBCOMMITTEE'S UNDERSTANDING OF THESE ISSUES, 09:12:22 RANKING MEMBER WAXMAN AND I HAVE URGED YOU, MR. CHAIRMAN, TO TAKE 09:12:26 SEVERAL ADDITIONAL STEPS IN THIS INVESTIGATION. 09:12:30 FIRST, WE'VE ASKED THAT THE SUBCOMMITTEE CONVENE HEARINGS TO 09:12:34 INSURE WHETHER U.S. POLICIES AND INCENTIVES ARE ADEQUATE TO 09:12:39 INSURE THAT U.S. MANUFACTURERS CAN COMPETE IN THE GLOBAL CLEAN 09:12:42 ENERGY MARKET. WE'VE ALREADY HEARD TESTIMONY IN 09:12:46 OUR INVESTIGATION THAT CHINA'S SHARE OF THE SOLAR MARKET HAS 09:12:49 JUMPED FROM 6% IN 2005 TO 54% JUST SIX YEARS LATER. 09:12:55 AND WE'VE HEARD THAT HALF OF THE TEN LARGEST SOLAR PANEL 09:13:00 MANUFACTURERS ARE NOW BASED IN CHINA. 09:13:03 AT THE SAME TIME, JUST LAST WEEK, SOME OF THE COUNTRY'S 09:13:06 BUSINESS LEADERS RG INCLUDING THE CEOs OF GENERAL ELECTRIC AND 09:13:10 XEROX STATED THAT, "THE FEDERAL GOVERNMENT HAS A VITAL ROLE TO 09:13:15 PLAY IN ENERGY INNOVATION AND WARNED IF THE U.S. FAILS TO 09:13:20 INVENT NEW TECHNOLOGIES AND CREATE NEW MARKETS AND NEW JOBS, 09:13:23 THAT WILL DRIVE THE TRANSFORMATION AND 09:13:27 REVITALIZATION OF THE $5 TRILLION GLOBAL ENERGY INDUSTRY, 09:13:31 WE WILL HAVE LOST AN OPPORTUNITY TO LEAD IN WHAT IS ARGUABLY THE 09:13:36 LARGEST AND MOST PERVASIVE TECHNOLOGY SECTOR IN THE WORLD." 09:13:40 ACCORDINGLY, REVIEW OF THE SOLYNDRA LOAN GUARANTEE SHOULD 09:13:43 GO HAND IN HAND WITH REVIEW OF THE APPROPRIATE PATH OUR NATION 09:13:47 CAN TAKE TO AVOID SEEDING LEADERSHIP OF THE CLEAN 09:13:51 TECHNOLOGY ENERGY MARKET TO CHINA AND OTHER COUNTRIES NL 09:13:54 SECOND, MR. WAXMAN AND I HAVE ASKED CHAIRMAN STERNZ TO OBTAIN 09:13:58 THE TESTIMONY OF REPRESENTATIVES FROM THE TWO PRIVATE EQUITY 09:14:04 FIRMS WHICH WERE THE MOST SIGNIFICANT INVESTORS IN 09:14:07 SOLYNDRA. PRIVATE INVESTORS INVESTED TWICE 09:14:08 AS MUCH AS THE GOVERNMENT IN SOLYNDRA. 09:14:12 THE SUBCOMMITTEE SHOULD UNDERSTAND WHY SOLYNDRA 09:14:18 ATTRACTED SO MUCH PRIVATE CAPITAL AND WHAT REPRESENTATIONS 09:14:20 THE COMPANY MADE TO PRIVATE INVESTORS AS WELL AS TO THE 09:14:25 GOVERNMENT. I'M CERTAIN THAT THE CHAIRMAN 09:14:26 SEES THE MERITS OF THESE REQUESTS, MR. CHAIRMAN, AND I 09:14:27 LOOK FORWARD TO WORKING TOGETHER ON THESE AND OTHER ISSUES AS THE 09:14:32 INVESTIGATION CONTINUES. AND I YIELD BACK THE BALANCE OF 09:14:34 MY TIME. THANK YOU. 09:14:36 AND NOW THE FULL CHAIRMAN OF THE ENERGY AND COMMERCE, THE 09:14:42 DISTINGUISHED GENTLEMAN FROM MICHIGAN IS RECOGNIZED FOR FIVE 09:14:44 MINUTE. THANK YOU, MR. CHAIRMAN. 09:14:47 1963 THERE WAS A GREAT TRAIN ROBBERY IN ENGLAND. 09:14:50 AT THE TIME I THINK IT MIGHT HAVE BEEN THE LARGEST HEIST 09:14:53 ENVIRONMENT EASTERN BECAUSE OF THE CLEVERNESS, THE LEGEND 09:14:57 CONTINUES. THE TAKE WAS $2.6 MILLION POUNDS 09:15:01 THAT, IS ABOUT 7.AMILLION IN 1963 DOLLARS. 09:15:05 BUT NOW WE HAVE OUR OWN MODERN DAY GREAT TRAIN ROBBERY. 09:15:10 IT APPEARS WE HAVE A GREAT HEIST OF OVER HALF A BILLION DOLLARS 09:15:14 AND POSSIBLY EVEN WILLING COLLABORATORS, MAYBE EVEN 09:15:19 CO-CONSPIRATORS CALLED THE U.S. GOVERNMENT WHO RUSHED OUT A $535 09:15:24 MILLION LOAN TO SOLYNDRA. IT IS A VERY SAD COMMENTARY THAT 09:15:28 WE MET RESISTANCE EVERY STEP OF THE WAY AS THIS SUBCOMMITTEE HAS 09:15:33 TRIED TO SEEK ANSWERS TO BASIC QUESTIONS OVERSEEING THE 09:15:37 APPROVAL PROCESS OF THIS PROJECT. 09:15:39 WE FINALLY HAD TO RESORT TO A SUBPOENA AND NOW THE OUTRIGHT RE 09:15:48 RESISTANCE THAT BOTH OF YOU ASSURED US ONLY LAST WEEK THAT 09:15:51 YOU WOULD PROVIDE. LET ME JUST WARN YOU AND THE 09:15:53 OTHER FOLKS INVOLVED IN THIS TAXPAYER RIPOFF, WE'R DONE. 09:16:00 NO, WE'RE NOT. IN 2009, SOLYNDRA WAS THE FIRST 09:16:04 COMPANY TO RECEIVE A DEPARTMENT OF ENERGY FUND GUARANTEE FUNDED 09:16:08 WITH STIMULUS DOLLARSMENT THEY WERE TOUTED IN STATEMENTS BY 09:16:11 VICE PRESIDENT, VICE PRESIDENT, SECRETARY OF ENERGY AS A MODEL 09:16:14 FOR THE GOVERNMENT'S INVESTMENT IN GREEN TECHNOLOGY. 09:16:18 AND NOW LESS THAN TWO YEARS LATER SOLYNDRA FILED FOR 09:16:22 BANKRUPTCY AND WAS RATED BY THE FBI. 09:16:25 I UNDERSTAND THAT OUR TWO WITNESSES TODAY, MR. HARRISON 09:16:28 AND MR. STOVER INTEND TO INVOKE THEIR RIGHTS UNDER THE FIFTH 09:16:32 AMENDMENT AND WILL NOT TESTIFY. SOLYNDRA LEFT TAXPAYERS HOLDING 09:16:38 THE BAG FOR $535 MILLION GUARANTEE AND WE STILL CAN'T GET 09:16:44 ANSWERS. LAST WEEK WE LEARNED EVEN MORE 09:16:47 TROUBLING FACTS ABOUT THE ADMINISTRATION'S REVIEW OF THE 09:16:51 SOLYNDRA GUARANTEE, CONCERNS ABOUT THE LIQUIDITY AND CASH 09:16:53 FLOW WERE IGNORED. THE FINANCIAL MODEL SHOWED THE 09:16:57 COMPANY WOULD RUN OUT OF CASH BY SEPTEMBER 2011. 09:17:00 WHICH AS IT TURNS OUT, IT PRECISELY DID. 09:17:05 OMB FELT PRESSURE TO COMPLETE THE REVIEW IN TIME FOR A GROUND 09:17:08 BREAKING EVENT FOR THE PRESIDENT AND WHEN SOLYNDRA FACED DEFAULT 09:17:12 AT THE ENOF LAT YEAR, THE ADMINISTRATION RESTRUCTURED THE 09:17:15 GUARANTEE AND PUT THE TAXPAYERS BEHIND THE INVESTORS DESPITE 09:17:19 CONCERNS BY OMB STAFF THAT THE RESTRUCTURING WOULD NOT BE A 09:17:22 BETTER DEAL FOR THE GOVERNMENT AND, FRANKLY, IN CONTRIBUTION TO 09:17:32 THE LAW. THE WHICH THE WAS RIGHTS TO 09:17:35 START ASKING QUESTIONS WHEN WE OPENED OUR INVESTIGATION SEVEN 09:17:38 MONTHS AGO. ADMINISTRATION'S ACTIONS IN THIS 09:17:40 CASE ARE DEEPLY TROUBLING. AND SO IS THEIR RESPONSE TO OUR 09:17:45 FINDINGS. RATHER THAN ENGAGE IN A DIALOGUE 09:17:47 ABOUT THEIR EFFORTS TO PROTECT THE TAXPAYER FROM THE RISKS 09:17:51 POSED BY SOLYNDRA, THEY'RE ARGUING TO THE PRESS THE CLEAN 09:17:59 ENERGY AND D.O.E. PROJECTS THAT REPUBLICANS SUPPORTED. 09:18:01 THEY BELIEVE THIS SOMEHOW UNDERMINES OUR BASIS FOR ASKING 09:18:05 TOUGH QUESTIONS ABOUT SOLYNDRA. ACCORDING TO PAPERS, "OBAMA 09:18:10 ADMINISTRATION OFFICIALS SPENT THE LAST WEEK DIGGING UP LETTERS 09:18:13 SOUND BITES AND MEDIA STORIES FROM REPUBLICAN LAWMAKERS WHO 09:18:17 HAD PREVIOUSLY BEGGED FOR CLEAN ENERGY SPENDING IN THEIR 09:18:22 DISTRICTS." FIRST, LET'S TALK ABOUT CLEAN 09:18:24 ENERGY. YES, REPUBLICANS DO SUPPORT 09:18:28 INNOVATION AND WE ARE UNIFORM IN OUR SUPPORT OF ANY SOLUTION THAT 09:18:31 IMPROVES OUR ENERGY SECURITY. WHILE WE MAY QUESTION WHETHER 09:18:34 THE FEDERAL GOVERNMENT IS CAPABLE OF SELECTING THE MOST 09:18:38 PROMISING COMPANIES IN TECHNOLOGIES, WE HAVE CONCERNS 09:18:41 ABOUT THE STIMULUS WHEN PASSED IN 2009 AND WE HAVE CONCERNS NOW 09:18:47 THAT IT FAILED TO DELIVER THE JOBS THAT WERE PROMISED. 09:18:51 THIS IS NOT A DEBATE ABOUT THE VIRTUES OF CLEAN ENERGY. 09:18:54 IT IS A SERIOUS INQUIRY INTO RECKLESS USE OF TAXPAYER DOLLARS 09:18:59 ON A COMPANY THAT WAS KNOWN TO POSE SERIOUS RISKS BEFORE A 09:19:04 SINGLE DIME WENT OUT THE DOOR. I YIELD BACK. 09:19:08 CHAIRMAN YIELDS BACK. THE GENTLE LADY FROM ILLINOIS IS 09:19:12 RECOGNIZED FOR TWO MINUTES. AND AS I TOLD ALL THE MEMBERS, 09:19:16 WE'RE TRYING TO STRICTLY ENFORCE THAT TWO MINUTES. 09:19:19 I APPRECIATE YOUR SUPPORT. THANK YOU. 09:19:20 THANK YOU, MR. CHAIRMAN. I AM SADDENED THAT A COMPANY IN 09:19:25 WHICH BOTH THE BUSH AND OBAMA DEPARTMENTS OF ENERGY SAW SUCH 09:19:30 PROMISE HAS FILED FOR BANKRUPTCY, CAUSING THE LOSS OF 09:19:33 MORE THAN 1,000 HIGH-TECH JOBS. I ALSO SEEK ANSWERS FROM 09:19:41 SOLYNDRA'S EXECUTIVES ABOUT THE MISLEEING OR INCOMPLETE 09:19:44 ASSESSMENT OF THE COMPANY'S FINANCIAL POSITION AND THE CAUSE 09:19:46 AND CIRCUMSTANCES BEHIND THE FBI RAID ON SOLYNDRA FACILITIES AND 09:19:52 EXECUTIVES HOMES HOMES EARLIER THIS MONTH. 09:19:53 AND IT'S UNFORTUNATE THAT MR. HARRISON AND MR. STOVER HAVE 09:19:57 ELECTED NO THE TO TESTIFY OR ANSWER QUESTIONS TODAY SO THAT 09:20:02 OUR SUBCOMMITTEE TOGETHER MIGHT HAVE ANSWERS TO THOSE QUESTIONS. 09:20:06 HOWEVER, I THINK IT IS IMPORTANT THAT AS WE WORK TO ADDRESS THE 09:20:10 SOLYNDRA SITUATION THAT WE DON'T THROW THE BABY OUT WITH THE BATH 09:20:14 WATER. LAST NIGHT EXPLOITING THE 09:20:17 SOLYNDRA CASE THIS HOUSE VOTED TO CUT THE D.O.E. LOAN PROGRAM. 09:20:24 THIS WILL UNDERMINE OUR ABILITY TO COMPETE IN THE GLOBAL ENERGY 09:20:28 SECTOR. AS THE DEMAND FOR ENERGY RISES, 09:20:30 EMERGING TECHNOLOGIES WILL NEED OUR SUPPORT TO COMPETE WITH 09:20:33 BUSINESSES IN CHINA WHOSE SOLAR INDUSTRY WAS PROVIDED WITH $30 09:20:37 BILLION IN GOVERNMENT SUBSIDIES JUST LAST YEAR US GOVERNMENT CONCEDING THE 09:20:41 GREEN ENERGY RACE TO CHINA WOULD BE A WRECKLESS AND IRREVERSIBLE 09:20:48 DECISION. IN A ARTICLE LAST WEEK, A GROUP 09:20:51 OF CAPITALISTS SAID THAT THE CLEAN ENERGY INDUSTRY NEEDS MORE 09:20:55 THAN VENTURE CAPITAL TO SUCCEED." 09:20:57 THEY INSIST THAT ONLY A PROGRAM LIKE THE LOAN GUARANTEE PROGRAM 09:21:01 HAS THE RESOURCES REQUIRED TO FULLY PROMOTE OUR GREEN ENERGY 09:21:05 ECONOMY. AS WE MOVE FORWARD WITH OUR 09:21:08 INVESTIGATION OF SOLYNDRA, WE SHOULD INSURE THE LOAN GUARANTEE 09:21:13 PROGRAM REMAINS A PRIORITY FOR THIS CONGRESS AND OUR COUNTRY. 09:21:16 AND NOW I YIELD BACK THE REMAINDER OF MY TIME. 09:21:18 I THANK THE GENTLELADY. AND THE CHAIRMAN OF THE FULL 09:21:25 COMMITTEE AND DISTINGUISHED GENTLEMAN FROM TEXAS RECOGNIZED 09:21:27 FOR AN OPENING STATEMENT FOR TWO MINUTES. 09:21:29 THANK YOU, MR. CHAIRMAN. LET'S SET THE SCENE. 09:21:33 IT'S A SUNNY DAY IN NORTHERN CALIFORNIA. 09:21:35 SHOULD BE A GOOD DAY FOR SOLAR ENERGY COMPANY, ESPECIALLY A 09:21:38 SOLAR ENERGY COMPANY THAT JUST RECEIVED A GOVERNMENT 09:21:43 GUARANTEEING LOAN OF OVER HALF A BILLION DOLLARS. 09:21:44 THE SOLAR ENERGY COMPANY THAT HAS BEEN PAID A VISIT BY THE 09:21:48 PRESIDENT OF THE UNITED STATES HIMSELF. 09:21:49 A SOLAR ENERGY COMPANY THAT PRESIDENT OBAMA CALLED THE TRUE 09:21:53 ENGINE OF ECONOMIC GROWTH. AND TOUTED AS A GREEN ENERGY 09:21:58 SUCCESS STORY, A STIMULUS SUCCESS STORY AND A JOB CREATING 09:22:02 SUCCESS STORY. AS IT TURNS OUT, THAT DAY WAS 09:22:05 NOT A GOOD DAY FOR THE COMPANY. INSTEAD, THAT COMPANY AFTER 09:22:09 TAKING A HALF A BILLION DOLLARS OF TAXPAYER MONEY CLOSED ITS 09:22:13 DOORS, LAID OFF OVER 1,000 EMPLOYEES, AND DECLARED 09:22:19 BANKRUPTCY. THE NEXT WEEK THE FBI KNOCKED 09:22:22 DOWN THE DOORS -- THE COMPANY'S DOOR TO SECURE ITS FILES. 09:22:26 THE QUESTION BEFORE THE SUBCOMMITTEE TODAY, MR. 09:22:28 CHAIRMAN, IS HOW DOES A COMPANY GO FROM HAVING THE PRESIDENT OF 09:22:32 THE UNITED STATES VISIT IT TO HAVE THE FBI COME IN AND 09:22:37 CONFISCATE ITS FILES? THE AMERICAN PEOPLE DESERVE AN 09:22:41 ANSWER TO THAT QUESTION, MR. CHAIRMAN. 09:22:43 THE TWO GENTLEMEN WHO SIT BEFORE THE COMMITTEE TODAY TOLD US 09:22:47 INFORMALLY AND IN MEETINGS WITH THE STAFF THAT THEY WERE READY 09:22:49 TO ANSWER QUESTIONS. THEY HAD NOTHING TO HIDE. 09:22:52 THEY MADE A DEAL WITH THIS COMMITTEE TO DELAY THE DATE OF 09:22:56 THE HEARING WITH A PROMISE THAT WHEN THEY CAME THEY WOULD ANSWER 09:22:59 OUR QUESTIONS. NOW, THEY'RE GOING TO ASSERT 09:23:01 THEIR FIFTH AMENDMENT RIGHT AND REFUSE TO ANSWER OUR QUESTIONS 09:23:06 BECAUSE THOSE QUESTIONS, THE ANSWERS TO THOSE QUESTIONS MIGHT 09:23:08 BE INCRIMINATING. HOWEVER, I AM SURE THAT THE 09:23:12 MEMBERS OF THE SUBCOMMITTEE WILL STILL ASK THE QUESTIONS SO AT 09:23:16 LEAST THE AMERICAN PEOPLE, MR. CHAIRMAN, KNOW WHAT QUESTIONS 09:23:20 SHOULD BE ANSWERED. THANK YOU, THE GENTLEMAN FROM 09:23:28 CALIFORNIA, THE RANKING MEMBER OF THE FULL COMMITTEE MR. WAXMAN 09:23:32 IS RECOGNIZED FOR TWO MINUTES. HENRY WAXMAN: 09:23:33 TWO WEEKS AGO WE REQUESTEDTHE SENIOR EXECUTIVES FROM SOLYNDRA TO APPEAR 09:23:40 BEFORE OUR COMMITTEE. I'M PLEASED THE CHAIRMAN STERNS 09:23:43 AGREED AND INVITED BRIAN HARRISON, CEO, AND BILL STOVER, 09:23:46 THE CFO, TO TESTIFY BEFORE US TODAY. 09:23:50 THE ATTORNEYS FOR MR. HARRISON AND MR. STOVER HAVE INDICATED 09:23:53 THAT BOTH WITNESSES WILL INVOKE THEIR CONSTITUTIONAL RIGHTS 09:23:56 UNDER THE FIFTH AMENDMENT. I RESPECT THAT THEY HAVE THIS 09:24:00 CONSTITUTIONAL PREROGATIVE. I'M DISAPPOINTED THEY WILL NOT 09:24:03 ANSWER OUR QUESTIONS. MR. HARRISON WAS IN MY OFFICE IN 09:24:07 JULY HE SAID THAT SOLYNDRA'S FUTURE WAS BRIGHT WITH SALES AND 09:24:12 PRODUCTION BOOMING. AND I'D LIKE TO KNOW WHY HE TOLD 09:24:14 ME THAT IN JULY AND THEN FILED FOR BANKRUPTCY ONE MONTH LATER. 09:24:20 UNFORTUNATELY, I WILL NOT GET AN ANSWER TODAY. 09:24:23 AS THIS INVESTIGATION CONTINUES, ONE KEY QUESTION IS WHETHER THE 09:24:27 DEPARTMENT OF ENERGY MADE A MISTAKE IN INVESTING IN 09:24:32 SOLYNDRA. CHAIRMAN UPTON AND CHAIRMAN 09:24:34 STERNS SAID THEY ALREADY KNOW THE ANSWER TO THIS QUESTION. 09:24:38 THEY SAID THAT SOLYNDRA WAS A BAD BET FROM THE BEGINNING. 09:24:42 A LOT OF SMART PEOPLE THOUGHT OTHERWISE. 09:24:45 IN MARCH 2010, "THE WALL STREET JOURNAL" ANNOUNCED A RANKING OF 09:24:49 THE TOP TEN VENTURE BACKED CLEAN TECHNOLOGY COMPANIES. 09:24:55 SOLYNDRA WAS NUMBER ONE ON THAT LIST. 09:24:57 SOME VERY SUCCESSFUL AND EXPERIENCED PRIVATE VENTURE 09:25:00 CAPITALISTS INVEST THE OVER $1 BILLION IN SOLYNDRA, TWICE THE 09:25:05 SUPPORT OF THE FEDERAL GOVERNMENT. 09:25:06 THEY OBVIOUSLY DID NOT SHARE CHAIRMAN UPTON'S VIEWS. 09:25:10 OUR NEXT STEP IN THIS INVESTIGATION SHOULD BE TO HEAR 09:25:13 FROM THESE UNVESTORS. THAT'S WHY RANKING MEMBER 09:25:19 DEGETTE AND I WROTE EARLY THIS WEEK TO REQUEST A HEARING WITH 09:25:23 PRIVATE EQUITY AND CAPITAL PARTNERS, SOLYNDRA'S TWO LARGEST 09:25:30 PRIVATE INVESTORS. THEY'LL BE ABLE TO TELL US WHAT 09:25:32 PRIVATE INVESTORS THOUGHT ABOUT THE COMPANY AND ITS BUSINESS 09:25:36 PROSPECT. WE NEED TO PUT OUR INVESTIGATION 09:25:38 INTO PERSPECTIVE. REPUBLICANS IN CONGRESS ARE 09:25:45 DANCING ON SOLYNDRA'S GRAVE. IT WASN'T TOO LONG AGO THEY WERE 09:25:51 URGING THE DEPARTMENT OF ENERGY TO AWARD LOANS AND LOAN 09:25:55 GUARANTEES TO COMPANIES IN THEIR DISTRICTS. 09:25:58 ONE REPUBLICAN MEMBER OF OUR COMMITTEE, REPRESENTATIVE 09:26:01 BLACKBURN, WELCOMED THE AWARD OF $1.6 BILLION LOAN TO A JAPANESE 09:26:06 COMPANY IN HER DISTRICT. ANOTHER MEMBER REPRESENTATIVE 09:26:10 BASS SAID HE BELIEVED IN THE SUBSIDIES RECEIVED BY GRANITE 09:26:15 RELIABLE POWER DISTRICT, TWO OTHER REPRESENTATIVES WROTE THE 09:26:20 SPEAKER EARLIER THIS YEAR TO SUPPORT D.O.E.'S LOAN GUARANTEE 09:26:26 PROGRAM. EVEN CHAIRMAN UPTON PRESSED FOR 09:26:28 CLEAN ENERGY LOANS IN HIS STATE. RISK IS INHERENT COMPONENT OF 09:26:32 THE LOAN GUARANTEE PROGRAM. THAT IS NECESSARILY THE CASE 09:26:36 WITH THE PROGRAM DESIGNED TO HELP NEW TECHNOLOGIES GET OFF 09:26:40 THE GROUND. THE ALTERNATIVE IS TO SIMPLY 09:26:42 GIVE UP ON IMPORTANT ROLE THAT GOVERNMENT CAN PLAY IN 09:26:46 SUPPORTING THE DEVELOPMENT OF THESE TECHNOLOGIES. 09:26:49 WE NEED TO FACE REALITY AND STOP DENYING SCIENCE, CLIMATE CHANGE 09:26:53 IS REAL AND IS CAUSED BY MAN. IN THE PAST YEAR ALONE, EXTREME 09:26:59 WEATHER CAUSED RECORD FLOODS, DROUGHTS, AND FIRES THAT HAVE 09:27:01 TURNED MUCH OF OUR NATION INTO DISASTER AREAS. 09:27:06 THE FUTURE WILL BELONG TO THE COUNTRIES THAT RECOGNIZE REALITY 09:27:10 AND INVEST IN CLEAN ENERGY. CHINA KNOWS THIS AND INVESTED 09:27:16 $30 BILLION IN CHINESE SOLAR MANUFACTURERS LAST YEAR ALONE. 09:27:20 WE NEED AN EFFECTIVE STRATEGY TO COMPETE. 09:27:23 THAT IS WHY RANKING MEMBER DEGOTETTE AND I WROTE THE CHAIRMAN 09:27:27 YESTERDAY TO ASK FOR A HEARING. UNFORTUNATELY, WE SEEM INTENT ON 09:27:31 DENYING THE FUTURE. THIS NIGHT, REPUBLICANS -- LAST 09:27:35 NIGHT REPUBLICANS VOTED TO BLOCK FUNDING FOR CLEAN VEHICLES. 09:27:38 AND THEY VOTED TO TAKE AWAY FUNDING FOR INNOVATIVE RENEWABLE 09:27:43 ENERGY PROJECTS. THAT'S NOT AN ECONOMIC PLAN FOR 09:27:46 THE FUTURE. IT'S A JOB DESTROYING STRATEGY 09:27:49 THAT KEEP US TIED TO A FOSSIL FUEL PAST. 09:27:56 THE GENTLEMAN YIELDS BACK THE BALANCE OF HIS TIME. 09:27:58 WE'RE IN OPENING STATEMENTS. THE GENTLEMAN FROM NEBRASKA IS 09:28:01 RECOGNIZED FOR TWO MINUTES. THANK YOU, MR. CHAIRMAN. 09:28:04 THIS WAS TO BE AN IMPORTANT HEARING. 09:28:09 AS THE CHAIRMAN OF THE FULL COMMITTEE SAID, WE WANT CLEAN 09:28:14 JOBS. WE LIKE CLEAN ENERGY. 09:28:16 ALL OF US WANT JOBS TO BE CREATED IN OUR OWN DISTRICTS. 09:28:19 SOME OF THE DISTRICTS MENTIONED BY MR. WAXMAN HAVE VERY HIGH 09:28:24 UNEMPLOYMENT RATES. SO WHEN YOU COMBINE THE TWO, IT 09:28:28 ONLY MAKES SENSE THAT MEMBERS WOULD ENCOURAGE JOB GROWTH IN 09:28:32 THEIR OWN COMMUNITIES. AND I THINK IT'S A TACTIC THAT 09:28:34 IS BEING USE THE BY THE WHITE HOUSE AND NOW BY MEMBERS OF THIS 09:28:38 COMMITTEE TO DEFLECT ATTENTION AWAY FROM THE REAL ISSUES AND 09:28:42 THAT'S WHETHER OR NOT THE FUNDAMENTAL QUESTION WAS D.O.E. 09:28:47 AND OMB AND THE WHITE HOUSE DUPED BY SOLYNDRA? 09:28:54 OR DID THEY IGNORE THE INFORMATION THAT WAS AVAILABLE 09:28:57 TO THEM FOR WHATEVER PURPOSES, WHETHER IT WAS TO PUT GREEN 09:29:03 ENERGY IN A BETTER LIGHT THAN IT WAS CURRENTLY IN THE MARKETS FOR 09:29:10 PRESS AVAILABILITY OR EVEN MORE ONEROUS, FOR ONE OF ITS MAJOR 09:29:16 SHAREHOLDERS, MR. KAISER, WHO HAD 16 CONTACTS WITH THE WHITE 09:29:20 HOUSE, SOME OF WHICH WERE DURING IMPORTANT TIMES OF CONSIDERATION 09:29:26 FOR SOLYNDRA'S REQUEST. THOSE ARE LEGITIMATE QUESTIONS 09:29:31 THAT WE NEED ANSWERED THAT COULD HAVE BEEN ANSWERED HERE TODAY. 09:29:34 SO IT IS DISTURBING THAT WHEN THE TAXPAYERS HAVE BEEN DUPED 09:29:39 OUT OF OVER $500 MILLION THAT WE ARE NOT RECEIVING THE 09:29:45 INFORMATION ON THEIR BEHALF THAT COULD RESOLVE QUESTIONS AND FIX 09:29:51 PROBLEMS FOR THE FUTURE. THE GENTLEMAN FROM 09:29:53 MASSACHUSETTS IS RECOGNIZED FOR TWO MINUTE OPENING STATEMENT. 09:29:57 LAST NIGHT THE REPUBLICAN HOUSE PASSED A BILL THAT WOULD 09:30:02 DESTROY THE ADVANCED TECHNOLOGY VEHICLE LOAN PROGRAM. 09:30:06 AND DESTROY THE RENEWABLE ENERGY LOAN GUARANTEE PROGRAM. 09:30:11 AND DESTROY THOUSANDS OF JOBS. AND WHAT WAS THE RATIONAL? 09:30:15 THEY USED SOLYNDRA. IS THIS JUST A FAILED COMPANY 09:30:19 THAT COULD NOT COMPETE WHEN FACED WITH A 42% DECLINE AND THE 09:30:24 PRICE OF SOLAR ENERGY? OR WAS WRONGDOING INVOLVED? 09:30:28 WE DON'T KNOW THE ANSWER TO THAT. 09:30:29 BUT THE REPUBLICAN MAJORITY IS WRECKLESSLY EXPLOITING THIS ONE 09:30:33 CASE TO ADVANCE A POLITICAL AGENDA THAT IS VERY CLEARLY 09:30:37 AIMED AT KILLING THE SOLAR WIND AND RENEWABLE INDUSTRIES. 09:30:41 IT IS RECKLESS TO TOSS AROUND ACCUSATIONS OF ILLEGALITY ON THE 09:30:45 PART OF THE DEPARTMENT OF ENERGY OFFICIALS WHO AGREED TO 09:30:48 RESTRUCTURE THE SOLYNDRA LOAN GUARANTEE BY PUT SOMETHING 09:30:52 PRIVATE INVESTORS AHEAD OF TAXPAYERS AND THE REIMBURSEMENT 09:30:55 LINE. I SENT MR. UPTON AND MR. STERNS 09:30:57 A LETTER THIS MORNING THAT PROVIDES A BIT OF A HISTORY 09:31:01 LESSON. THE LOAN GUARANTEE PROGRAM WAS 09:31:03 CREATED AT 2:30 A.M. IN THIS ROOM IN JULY OF 2005 IN THE 09:31:08 CONFERENCE BETWEEN THE HOUSE AND SENATE ON WHAT WOULD BECOME THE 09:31:12 ENERGY POLICY ACT OF 2005. SENATOR DEMINUTE WHICH I OFFERED 09:31:18 THE PROVISION. LARGELY AS A WAY TO PAY FOR THE 09:31:20 NUCLEAR POWER PLANTS THAT WALL STREET HAD NO INTEREST IN 09:31:24 FINANCING. I OFFERED AN AMENDMENT TO 09:31:26 STRIKE. BUT THE AMENDMENT WAS OPPOSED BY 09:31:28 THE REPUBLICAN MAJORITY AND THE PROVISION BECAME LAW. 09:31:31 THE NUCLEAR INDUSTRY HAILED THE NEW LAW BUT SOON EVERYONE 09:31:35 STARTED COMPLAINING. REPUBLICAN MEMBERS OF THIS 09:31:37 COMMITTEE ALONG WITH THE NUCLEAR INDUSTRY EXCORIATED DD.O.E. FOR 09:31:41 NOT GETTING THE LOAN GUARANTEES OUT THE DOOR MORE QUICKLY AND 09:31:44 THE NUCLEAR INDUSTRY SAID REPEATEDLY THAT IF D.O.E. DID 09:31:48 NOT ALLOW PRIVATE INVESTORS TO JUMP AHEAD OF TAXPAYERS IN THE 09:31:52 REIMBURSE DECLINE, WALL STREET WOULDN'T GIVE THEM THE MONEY TO 09:31:55 BUILD ANY NEW NUCLEAR POWER PLANTS. 09:31:58 D.O.E. FINALLY EXCEEDED TO THE NUCLEAR INDUSTRY'S WISHES. 09:32:01 THE GENTLEMAN'S TIME HAS EXPIRED. 09:32:02 BUT IT WASN'T SECRET. IT WASN'T SUDDEN. 09:32:05 IT FOLLOWED THE RIGHT REGULATORY RULES. 09:32:08 WE SHOULD HOLD HEARINGS FROM NUCLEAR INDUSTRY TO CHANGE THESE 09:32:12 RULES. THANK YOU, MR. CHAIRMAN. 09:32:14 THANK YOU, MR. CHAIRMAN. ON JANUARY 2009, THE DEPARTMENT 09:32:17 OF ENERGY BUSH ADMINISTRATION CREDIT COMMITTEE UNANIMOUSLY 09:32:21 REJECTED THE LOAN. THREE WEEKS LATER THE PROCESS 09:32:23 BEGAN AGAIN. IN MARCH THEY SAID THIS DEAL IS 09:32:25 NOT READY FOR PRIME TIME AND BY AUGUST D.O.E. EMPLOYEES WARNED 09:32:30 THAT THE MODEL RUNS OUT OF CASH. YET, WHAT HAPPENED NEXT WAS 09:32:33 PRETTY INCREDIBLE. THERE ARE TWO MAJOR FACTORS THAT 09:32:35 SUGGESTED STRONGLY THE FOCUS IS ON PROTECTING THE MONEY OF THE 09:32:39 I INVESTORS AND EXECUTIVES, NOT 09:32:40 THE TAXPAYERS. IT WAS AN AIRTIGHT SCHEME THAT 09:32:43 TRUMPS THE BERNIE MADOFF SCHEME. THEY FILED WITH THE SEC IN 09:32:46 DECEMBER 2009. THIS INITIAL PUBLIC OFFERING. 09:32:50 WHICH COULD INSURE THEM A STRONG FINANCIAL RETURN BY BEING ABLE 09:32:54 TO PROP IT FROM STOCK SALES. THE NEW YORK SIMZ SAID BEHIND 09:32:57 THE POMP AND PAGEANTRY OF A PRESIDENTIAL VISIT, SOLYNDRA WAS 09:33:02 ROTTING INSIDE, HEMORRHAGING CASH SO QUICKLY WITHIN WEEKS OF 09:33:06 MR. OBAMA'S YOU HAVE THE THAT THEY OFFERED SHARES TO THE 09:33:09 PUBLIC. SECONDLY, THE LAW CLEARLY STATES 09:33:12 THAT THE TAXPAYERS WOULD NOT BE SUBORDINANT TO OTHER FINANCING 09:33:15 IN THE LOANS. BUT THE EXECUTIVES AND INVESTORS 09:33:19 ARE ARRANGED TO PUT THEMSELVES FIRST IN JANUARY OF 2011. 09:33:23 IT APPEARS YOU KNEW THE TITANIC WAS SINKING AND YOU MADE SURE 09:33:26 YOU GOT TO THE LIFEBOATS FIRST. I'M VERY DISAPPOINTED WE WILL 09:33:31 NOT GET ANSWERED TO THIS TODAY. THE TAXPAYERS DESERVE ANSWERS 09:33:35 AND THEY DESERVE TO GET THEIR MONEY BACK. 09:33:36 I YIELD BACK. THE GENTLEMAN YIELDS BACK. 09:33:41 THE GENTLEMAN FROM TEXAS MR. GREEN IS RECOGNIZED FOR TWO 09:33:43 MINUTES. TWO MINUTES. 09:33:44 THANK YOU, MR. CHAIRMAN. I THOUGHT YOU WERE GOING TO GIVE 09:33:46 ME EXTRA TIME BECAUSE WE ARE SLOW TALKERS. 09:33:50 TODAY HEARINGS SHOULD BE AN OPPORTUNITY FOR SOLYNDRA TO 09:33:56 CLEAR ITS NAME. HOWEVER, DUE TO THE ON GOING 09:33:59 INVESTIGATION, THEY WILL NOT SHED ANY LIGHT ON EVENTS 09:34:01 SURROUNDING THE LOAN GUARANTEE OR THE RESTRUCTURING OF THE 09:34:04 LOAN. IT'S THEIR RIGHT TO DO SO. 09:34:06 I'M DISAPPOINTED WE WILL NOT GET THE INFORMATION. 09:34:09 LIKE OTHER MEMBERS OF THE CONGRESS, IN JULY SHORTLY AFTER 09:34:12 THIS ISSUE WAS FIRST RAISED BY THE SUBCOMMITTEE, OUR STAFF MET 09:34:15 WITH THE REPRESENTATIVES OF SOLYNDRA. 09:34:19 OUR OFFICE WAS ASSURED THAT THEY WERE WELL POSITIONED TO GROW AND 09:34:23 ONLY DAYS LATER THEY FILED BANKRUPTCY. 09:34:25 IT'S CLEAR THEY ARE DISINGENUOUS AT BEST. 09:34:27 THEY MISLED OUR OFFICE AND OTHER MEMBERS OF THE SUBCOMMITTEE. 09:34:30 THIS LEADS ME TO BELIEVE THERE IS A GOOD CHANCE A SIMILARLY 09:34:33 MISLED INVESTORS AND THE FEDERAL GOVERNMENT THROUGHOUT THE LOAN 09:34:36 GUARANTEE PROCESS. WHAT IS IMPORTANT TO RECOGNIZE 09:34:38 IS NO ENTITY, EVEN THE FEDERAL GOVERNMENT IS IMMUNE TO FRAUD. 09:34:42 THE CASE OF SOLYNDRA SHOULD NOT LEAD ANYONE TO BELIEVE THAT OUR 09:34:47 COUNTRY SHOULD NOT STOP EXPLORING SOLAR ENERGY. 09:34:52 LOAN GUARANTEES NEED TO BE VETTED BUT IF A MISTAKE IS MADE, 09:34:56 A FRAUD HAPPENS, WE CAN'T SIMPLY TURN AND RUN AWAY. 09:35:02 PERPETRATORS SHOULD BE PUNISHED. WE MUST CONTINUE TO EXPLORE WAYS 09:35:11 TO DERIVE INTERESTS. 90% OF ISRAELI WATER IS HEATED 09:35:14 WITH SOLAR POWERMENT IF WE'RE NOT GREASIVELY PURSUING THE 09:35:17 TECHNOLOGIES, WE'LL BE LEFT BEHIND. 09:35:18 IF WE LOSE OUR COMPETITIVE EDGE, IF OUR NATION CEASES TO BE THE 09:35:22 WORLD LEADER IN TECHNOLOGICAL DEVELOPMENT, THE FINANCIAL LOSS 09:35:28 WE'RE EXPERIENCING WILL BE DWARFED BY OUR INABILITY TO 09:35:30 COMPETE. I'M SHACKED THAT THE CONDUCT OF 09:35:32 THIS COMPANY AND I WELCOME THE INVESTIGATIONS BY THIS 09:35:34 SUBCOMMITTEE AND THE DEPARTMENT OF JUSTICE, THE ALLEGATIONS HAVE 09:35:38 BEEN MADE AND MAY BE IN THIS CASE CANNOT BE USED AS A 09:35:43 PRETEXT FOR ABOLISHING PROGRAMS WITH 09:35:47 POTENTIAL. I THANK THE GENTLEMAN. 09:35:50 I THANK THE CHAIRMAN FOR THE RECOGNITION. 09:35:52 I WANT TO THANK THE WITNESSES FOR APPEARING TODAY AND DO NOTE 09:35:56 HER HERE VOLUNTARILY AND NOT UNDER SUBPOENA. 09:35:58 I'M OBVIOUSLY DISAPPOINTED AS IS EVERY OTHER MEMBER THAT WE'LL 09:36:01 NOT BE ABLE TO GET OUR QUESTIONS ANSWERED TODAY AS THE ASSERTION 09:36:04 IS THAT YOU WILL ASSERT YOUR PRIVILEGES UNDER THE FIFTH -- OR 09:36:08 YOUR RIGHTS. Narrator: UNDER THE FIFTH 09:36:13 AMENDMENT. WE'VE BEEN TRYING TO GET THIS 09:36:16 MFGS FOR MONTHS. IT IS A SHAME THIS COMMITTEE HAS 09:36:18 BEEN STONEWALLED. IT IS A SHAME THIS COMMITTEE HAD 09:36:21 TO RESORT TO A SUBPOENA IN JULY OF THIS YEAR AND THAT SUBPOENA 09:36:27 PASSED ON A PARTY LINE VOTE. I SUSPECT THERE ARE SEVERAL 09:36:30 MEMBERS THAT WOULD LIKE TO HAVE THAT VOTE BACK IN LIGHT WLAF WE 09:36:33 KNOW. YES, LAST NIGHT THE MONEY FOR 09:36:36 FURTHER DISPERSEMENTS OF CASH TO THESE ENERGY PROGRAMS WAS 09:36:41 CORRALLED IN THE CONTINUING RESOLUTION. 09:36:43 I THINK THAT WAS A GOOD THING. I ONLY WISH WE COULD HAVE GOTTEN 09:36:48 MORE. MR. MARKY IN MARCH OF 2010 AT 09:36:51 THIS VERY TABLE ONE OF YOUR SUBCOMMITTEE HEARINGS KATHY ZOY, 09:36:56 TOLD THIS COMMITTEE THAT ALL OF THE MONEY FOR THESE ENERGY 09:37:00 PROGRAMS WAS OBLIGATED AND OUT THE DOOR AT THE DEPARTMENT OF 09:37:02 ENERGY. THAT WAS 15 MONTHS AGO. 09:37:04 AND NOW WE LEARN THAT RAPIDLY APPROACHING THE END OF THE 09:37:07 FISCAL YEAR THEY'RE TRYING TO CRAM $8 BILLION MORE OUT THE 09:37:10 DOOR. HELL YES WE TOOK THAT MONEY 09:37:12 BACK. D.O.E. IS GOING TO CONTINUE TO 09:37:14 BE CHUMPED, WE OUGHT TO CORRAL WHAT THEY'RE DOING. 09:37:17 I WISH WE COULD HAVE APPROPRIATED MORE MONEY AND 09:37:20 INVESTED IN CRIME SCENE TAPE AND TAKEN IT DOWN THERE AND CIRCLED 09:37:22 THEIR BUILDING. I HOPE THAT THEY WILL BE 09:37:24 FORTHCOMING IN THE FUTURE. I HOPE SECRETARY CHU WILL BE 09:37:29 DOWN HERE TO TESTIFY. IT IS THE ONLY RIGHT THING TO 09:37:31 DO. YOU OWE IT TO THE TAXPAYERS. 09:37:34 COME TO OUR COMMITTEE, BRING THE DOCUMENTS AND TELL US WHAT YOU 09:37:37 KNOW. THE GENTLEMAN YIELDS BACK. 09:37:40 THE CHAIR RECOGNIZES THE DISTINGUISHED GENTLEMAN FROM 09:37:43 MICHIGAN FOR TWO MINUTES FOR AN OPENING STATEMENT. 09:37:48 LIKE EVERY OTHER MEMBER OF THIS COMMITTEE, I AM 09:37:53 DISAPPOINTED. WE FEEL THAT WE SHOULD BE ABLE 09:37:55 TO ASK QUESTIONS OF TODAY'S WITNESSES. 09:37:58 IF WE'RE GOING TO LOOK INTO THIS ISSUE, WE NEED TO GET BOTH SIDES 09:38:01 OF THE STORY. IN ALL TRUTH, I BELIEVE THE 09:38:04 WITNESSES TODAY HAVE MUCH TO TELL US THAT IS PROBABLY IN 09:38:09 THEIR INTEREST. BUT THEIR BEHAVIOR IS FULLY 09:38:12 WITHIN THE CONSTITUTION AND LIKE EVERYBODY ELSE, I HAVE TO 09:38:15 SUPPORT AND PROTECT THOSE RIGHTS BECAUSE THEY WERE WISELY GIVEN 09:38:20 BY GREAT MEN. NOW, HAVING SAID THIS, I AM HARD 09:38:25 PUT TO BELIEVE THERE IS WRONGDOING ON THE PART OF THE 09:38:29 DEPARTMENT OF ENERGY'S LOAN PROGRAM OFFICE. 09:38:31 I BELIEVE THAT THAT AGENCY HAS DOCUMENTED THAT FACT OVER THE 09:38:35 COURSE OF THREE YEARS AND TWO ADMINISTRATIONS, ONE OF EACH 09:38:38 REPUBLICAN AND DEMOCRATIC. AND I BELIEVE THAT THEY HAVE 09:38:42 SHOWN DUE DILIGENCE WAS DONE BY THE LOAN PROGRAM OFFICE AND BY 09:38:46 OUTSIDE ENGINEERING AND MARKET CONSULTANTS. 09:38:48 I KNOW HOW HARD IT IS TO GET LOANS BECAUSE I HAVE HAD TO 09:38:53 SUPPORT A NUMBER OF OCCASION CONSTITUENTS OF MINE WHO HAD 09:38:58 NEEDED THIS ASSISTANCE. IN ANY EVENT, MEMBERS OF 09:39:00 SUBCOMMITTEE WERE ASSURED EARLIER THIS YEAR THAT THE 09:39:04 COMPANY WAS STRIVING AND ON TRACK TO SUCCESS AND CONCERNS ME 09:39:08 THAT WE MADE HAVE BEEN GIVEN INACCURATE INFORMATION. 09:39:12 I DID HOPE THAT WE COULD HEAR SOLYNDRA'S STORY AT SOME POINT 09:39:16 AS WE WENT THROUGH THESE MATTERS. 09:39:18 HOW MANY OF MY COLLEAGUES ON THIS SUBCOMMITTEE SUPPORT 09:39:23 RENEWABLE ENERGY IS VERY CLEAR. MANY MEMBERS ON BOTH SIDES OF 09:39:27 THE I'LL SUBMIT LETTERS IN SUPPORT OF RECOVERY ACTED 09:39:30 FUNDING PROJECTS FOR THIS DISTRICT. 09:39:33 FOR THEIR DISTRICT. REPUBLICANS AND DEMOCRATS. 09:39:35 AND YOU HOPE THAT WE DON'T TAKE THE FAILURE FOR WHATEVER REASON 09:39:39 OF THIS PROJECT TO MEAN THAT ALL RENEWABLE ENERGY PRODUCTS ARE 09:39:43 BAD INVESTMENTS OR THAT THE CONGRESS OR THAT THE GOVERNMENT 09:39:47 SHOULD NOT ESTABLISH PROGRAMS THAT ENABLE THE GOVERNMENT TO 09:39:50 SUPPORT NEW TECHNOLOGY TO KEEP THIS COUNTRY COMPETITIVE. 09:39:53 I THANK YOU FOR THE TIME, MR. CHAIRMAN. 09:39:55 I YIELD BACK. I THANK THE GENTLEMAN. 09:39:57 WE RECOGNIZE THE GENTLELADY FROM TENNESSEE FOR AN OPENING 09:40:01 STATEMENT OF TWO MINUTES. THANK YOU, MR. CHAIRMAN. 09:40:03 WELCOME TO OUR WITNESSES. WE'RE PLEASED THAT YOU'RE HERE. 09:40:06 WE ARE VERY DISAPPOINTED THAT YOU'RE NOT GOING TO ANSWER THE 09:40:10 QUESTIONS THAT WE HAVE ON BEHALF OF OUR CONSTITUENTS AND THE 09:40:14 AMERICAN TAXPAYERS THAT WANT TO KNOW WHAT HAPPENED TO THE MONEY. 09:40:17 AND MR. HARRISON AND MR. STOVER, I THINK IT'S IMPORTANT THAT YOU 09:40:20 REALIZE THIS HEARING IS NOT ABOUT SCIENCE OR ENERGY POLICY. 09:40:24 IT IS NOT ABOUT PREVIOUS LEGISLATION. 09:40:28 THIS HEARING IS ABOUT YOU, THE DEPARTMENT OF ENERGY AND YOUR 09:40:32 INTERACTION WITH THE ADMINISTRATION. 09:40:34 THERE IS A DESIRE TO BE ACCOUNTABLE. 09:40:37 WE WANT TO BE ACCOUNTABLE TO THE TAXPAYERS. 09:40:40 WE NEED TO HAVE THE ANSWERS FROM YOU. 09:40:42 THERE ARE PLENTY OF QUESTIONS TO GO AROUND. 09:40:45 MR. CHAIRMAN, DID MR. HARRISON PLEAD THE FIFTH? 09:40:48 IS HE INTERACTED WITH THE WOULD YOU SAY? 09:40:50 DID HE FIND IT NECESSARY TO PLEAD THE FIFTH WHEN HE VISITED 09:40:53 WITH SOME OF MY COLLEAGUES AND SAID THAT YOU WERE ON PACE TO 09:40:57 TRIPLE YOUR OUTPUT? AND, IN FACT, IF WE HAVE LEARNED 09:41:02 ANYTHING ABOUT MR. HARRISON, IT IS THAT UNTIL THIS MORNING HE 09:41:05 HAS HAD NO PROBLEM TALKING ABOUT THE COMPANY. 09:41:09 IN FACT, IT MAKES YOU WONDER WHAT YOU'RE TRYING TO HIDE OR 09:41:14 COVER UP. DID YOUR 1100 FORMER EMPLOYEES 09:41:18 KNOW THAT THEY WERE GOING TO BE LAID OFF ON THE MORNING OF 09:41:21 AUGUST 31st? DID THEY KNOW THAT THERE WAS 09:41:24 GOING TO BE DIFFICULTY WITH THE FINANCIAL BEARINGS OF YOUR 09:41:29 COMPANY? DID THEY UNDERSTAND THAT THERE 09:41:32 ARE PLENTY OF QUESTIONS THAT ARE YET TO BE ANSWERED? 09:41:35 I THINK ANOTHER PART OF THIS STORY THAT CAUSES CONCERN IS 09:41:39 WHAT IS GOING TO HAPPEN WITH THE $783 MILLION YOU OWE TO 09:41:45 CREDITORS THAT TRUSTED YOU. I YIELD BACK. 09:41:48 THE GENTLELADY YIELDS BACK. THERE IS NO LONGER ANYONE ON THE 09:41:52 DEMOCRAT SIDE. WE MOVE TO THE REPUBLICAN SIDE. 09:41:54 THE GENTLELADY FROM NORTH CAROLINA IS RECOGNIZED FOR AN 09:41:58 OPENING STATEMENT FOR TWO MINUTES. 09:42:00 THANK YOU, MR. CHAIRMAN. I APPRECIATE THAT. 09:42:02 IT GOES WITHOUT SAYING THAT I'M LIKE EVERYONE ELSE ON THIS 09:42:04 COMMITTEE, VERY DISAPPOINTED THAT WE AREN'T GOING TO GET ANY 09:42:08 ANSWERS. WE APPRECIATE YOU BEING HERE AND 09:42:09 WE RESPECT YOUR FIFTH AMENDMENT RIGHTS. 09:42:12 NO PROBLEM ABOUT THAT. BUT, YOU KNOW, I'M CONFIDENT 09:42:14 THAT THE COMMITTEE WILL GET TO THE BOTTOM OF THIS IN THE FUTURE 09:42:18 BECAUSE WE WANT TO FIND OUT EXACTLY WHAT WENT ON AND HOW 09:42:21 THIS LOAN GUARANTEE WAS HANDLED. AND ALSO WHAT WAS THE REAL 09:42:26 REASON FOR THE COMPANY'S EVENTUAL FAILURE AFTER THE 09:42:30 FEDERAL GOVERNMENT PROVIDED SUPPORT? 09:42:32 I'D ALSO BE VERY INTERESTED TO HEAR ABOUT THE FINANCIAL 09:42:37 CONTROLS INTERNALLY OR LACK THEREOF BECAUSE IN SEPTEMBER 09:42:41 22nd "WASHINGTON POST" ARTICLE CITED FORMER EMPLOYEES WHO SAW 09:42:49 SOLYNDRA'S EXECUTIVES BURNING THROUGH CASH AFTER RECEIVING THE 09:42:51 FEDERAL LOAN GUARANTEE. THE ARTICLE ALSO MENTIONED THAT 09:42:53 INVENTORY CONTINUED TO PILE UP IN SOLYNDRA'S LEASED SPACE AT 09:42:57 THE SAME TIME THEY WERE BUILDING THEIR $340 MILLION PLUS FACILITY 09:43:00 AROUND THE CORNER. LIKE MOST AMERICANS, I'D BE VERY 09:43:04 INTERESTED TO KNOW HOW SOLYNDRA SPENT SO MUCH MONEY SO QUICKLY. 09:43:08 AND IF THE COMPANY'S MANAGEMENT TEAM REALLY BELIEVED IN THE 09:43:11 FINANCIAL PICTURE THAT THEY PAINTED AT THE SAME TIME THE 09:43:14 COMPANY WAS EVIDENTLY SPIRALLING TOWARD RUIN. 09:43:17 I'D ALSO LIKE TO ASK OUR WITNESSES IF THEY COULD POINT TO 09:43:20 ANYTHING THAT SOLYNDRA DID THAT WILL BENEFIT THE AMERICAN 09:43:24 PEOPLE. UNFORTUNATELY, THESE QUESTIONS 09:43:26 WON'T BE ANSWERED THIS MORNING. HOWEVER, AS I SAID BEFORE, IT'S 09:43:29 NOT THE END OF THE INVESTIGATION AND I KNOW WE'LL GET THE 09:43:31 QUESTIONS ANSWERED IN DUE TIME. IT'S THE LEAST WE CAN DO FOR 09:43:35 TAXPAYERS WHO HAVE BEEN LEFT HOLDING THE BAG ON THIS ONE. 09:43:37 I YIELD BACK. THE GENTLELADY YIELDS BACK. 09:43:40 THE GENTLEMAN FROM GEORGIA IS RECOGNIZED FOR AN OPENING 09:43:43 STATEMENT, TWO MINUTES. MR. CHAIRMAN, WANT TO THANK 09:43:45 YOU FOR CALLING TODAY'S HEARING AS WE ATTEMPT TO GET ANSWERS 09:43:48 FROM THE EXECUTIVES OF SOLYNDRA. UNFORTUNATELY, DESPITE 09:43:52 ASSURANCES FROM THE EXECUTIVES AND IN AN E-MAIL DATE SEPTEMBER 09:43:56 10, 2011, THEY WOULD TESTIFY BEFORE THIS SUBCOMMITTEE, I'M 09:44:00 EXTREMELY DISAPPOINTED THAT THE CEO BRIAN HARRISON AND THE CFO 09:44:05 DOUG G. STOVER RENEGED ON THIS PLEDGE TO PROVIDE US WITH 09:44:08 ANSWERS AND INSTEAD CHOSE TO INVOKE THEIR CONSTITUTIONAL 09:44:11 RIGHTS UNDER THE FIFTH AMENDMENT TO AVOID SELF-INCRIMINATION. 09:44:16 MR. CHAIRMAN, HUNDREDS OF MILLIONS OF TAXPAYERS ARE OWED 09:44:18 AN EXPLANATION AS TO HOW THEY WERE SWINDLED OUT OF $535 09:44:22 MILLION IN LOAN GUARANTEE MONEY. MY CONSTITUENTS DESERVE TO KNOW 09:44:28 WHY IT IS THIS COMPANY WHOSE FINANCIAL OUTLOOK IN AUGUST OF 09:44:32 2009 INDICATED THAT THEY WILL BE OUT OF CASH IN SEPTEMBER OF 09:44:36 2011. IN FACT, THE TIME THEY DECLARED 09:44:38 BANKRUPTCY AND YET RECEIVED A HEFTY LOAN IN A RUSH TO JUDGMENT 09:44:42 ABOUT UNPROVEN TECHNOLOGY. YET TODAY WE HEAR NOTHING. 09:44:46 EVEN MORE FRUSTRATING THAN THE CARELESSNESS CHF LENDER ACTING 09:44:49 AFTER PUTTING TAXPAYERS ON THE HOOK FOR OVER HALF A BILLION 09:44:52 DOLLARS IS THE FACT THAT THESE EXECUTIVES SITTING BEFORE US 09:44:55 TODAY HAD AUDACITY TO TELL MEMBERS OF THIS SUBCOMMITTEE TWO 09:45:00 MONTHS AGO ONLY TO SEE THE DOORS CLOSE LEAVING ANOTHER 1,000 09:45:04 PEOPLE OUT OF WORK. NOW WE KNOW SOLYNDRA IS THE 09:45:08 SUBJECT OF A CRIMINAL INVESTIGATION BY THE FBI. 09:45:10 MR. CHAIRMAN, MY CONSTITUENTS WOULD LIKE TO KNOW THE ANSWERS 09:45:14 TO SEVERAL QUESTIONS. HOW DID SOLYNDRA MANAGE TO 09:45:17 OBTAIN THIS LOAN IN THE FIRST PLACE GIVEN THE SHAKY FINANCIAL 09:45:21 OUTLOOK? WHAT INTERACTION DID YOU HAVE 09:45:23 WITH THE WHITE HOUSE DURING THIS PROCESS? 09:45:25 HOW DID SOLYDRA RESTRUCTURE THE FINANCES IN FEBRUARY OF THIS 09:45:29 YEAR AND OBTAIN OBAMA ADMINISTRATION'S APPROVAL TO 09:45:32 RETURN $75 MILLION TO PRIVATE INVESTORS BEFORE TAXPAYERS WERE 09:45:37 PAID BACK? WAS THIS A VIOLATION OF FEDERAL 09:45:40 LAW? MR. CHAIRMAN, THESE QUESTIONS 09:45:41 WILL BE ANSWERED WITH NOTHING BUT SILENCE AS YOU CAN SEE. 09:45:45 THIS SUBCOMMITTEE DESERVES BETTER. 09:45:47 THE GENTLEMAN'S TIME HAS EXPIRED. 09:45:49 THE AMERICAN PEOPLE DESERVE BETTER. 09:45:50 AND THE GENTLEMAN FROM COLORADO IS RECOGNIZED FOR AN 09:45:54 OPENING STATE FOR TWO MINUTES. THANK YOU, MR. CHAIRMAN. 09:45:56 I THANK YOU FOR BEING HERE TODAY. 09:45:58 YOU RECEIVED THE FULL FAITH AND CREDIT OF THE UNITED STATES. 09:46:03 THE AMERICAN PEOPLE DESERVE ANSWERS. 09:46:07 WHAT WENT WRONG? WHAT COULD HAVE BEEN DONE? 09:46:09 DID THE LOBBYIVES KNOW? WAS INFORMATION HIDDEN FROM THE 09:46:14 DEPARTMENT OF ENERGY? DID THE DEPARTMENT OF ENERGY 09:46:16 PAINT A ROSIE PICTURE HIDING FROM CONGRESS? 09:46:21 HALF A BILLION DOLLARS WAS TAKEN FROM THE AMERICAN PEOPLE. 09:46:24 THEY WON'T GET IT BACK. THIS MORNING THIS CONGRESS 09:46:28 PASSED A CONTINUING RESOLUTION AND YOU'VE MANAGED TO DO 09:46:32 SOMETHING THAT FEW CONGRESSES HAVE, YOU'VE KILLED A PROGRAM. 09:46:38 WE DON'T HAVE ANSWERS. BUT WE WILL CONTINUE TO ASK. 09:46:41 WE WILL RESTORE THE FULL FAITH AND CREDIT OF THIS COUNTRY AND 09:46:44 THE ANSWERS THAT THEY DESERVE. YIELD BACK. 09:46:49 THE GENTLEMAN YELES BACK. WE RECOGNIZE THE GENTLEMAN FROM 09:46:52 VIRGINIA FOR OPENING STATEMENT, TWO MINUTES. 09:46:55 I RESPECT YOUR DECISION TO INVOKE YOUR CONSTITUTIONAL FIFTH 09:46:59 AMENDMENT RIGHTS. THAT STATED, THE AMERICAN PEOPLE 09:47:01 DESERVE TO KNOW THE ANSWERS TO A LOT OF QUESTIONS. 09:47:03 AFTER ALL, IT'S THEIR MONEY WE'RE TALKING ABOUT. 09:47:06 IF I HAD THE OPPORTUNITY TO ASK QUESTIONS WHICH WOULD BE 09:47:11 ANSWERED TODAY, I WOULD ASK IN LIGHT OF THE FACT THAT THE 09:47:14 JUSTICE DEPARTMENT GOT A SEARCH WARRANT FOR YOUR RECORDS SHORTLY 09:47:17 AFTER THE UNFLATTERING E-MAILS FROM WITHIN THE OBAMA 09:47:21 ADMINISTRATION WERE GIVEN TO THIS COMMITTEE, DO YOU FEEL 09:47:24 YOU'VE BEEN UNFAIRLY TARGETED BY THE OBAMA ADMINISTRATION'S 09:47:28 JUSTICE DEPARTMENT IN ORDER TO KEEP YOU FROM TESTIFYING HERE 09:47:32 TODAY? OR DO YOU BELIEVE THE JUSTICE 09:47:35 DEPARTMENT'S INVESTIGATION IN THIS MATTER IS A SMOKE SCREEN BY 09:47:39 THE ADMINISTRATION TO SHIELD THE ADMINISTRATION'S GROSS 09:47:41 NEGLIGENCE IN GIVING YOU AND POSSIBLY OTHERS QUESTIONABLE 09:47:43 LOAN GUARANTEES IN THE FIRST PLACE? 09:47:47 OR, DO YOU BELIEVE IT IS A SPOKE SCREEN FOR THE ADMINISTRATION'S 09:47:51 DECISION TO SUBORDER NATURE $75 MILLION OF TAXPAYER MONEY 09:47:55 AGAINST THE CLEAR MEANING OF THE LAW? 09:47:59 SECONDLY, DID YOU OR ANYONE OF YOUR DIRECTION SPEAK WITH ANYONE 09:48:04 PARTICULARLY LEGAL COUNSEL HE IS DEPARTMENT OF ENERGY IN AN 09:48:07 ATTEMPT TO PERSUADE OR EDUCATE THEM THAT THERE WAS A LEGAL 09:48:10 THEORY THAT WOULD ALLOW SUBORDINATION OF TAXPAYER LOAN 09:48:15 GUARANTEED MONEY? ALSO, I WOULD LIKE TO KNOW, DID 09:48:17 YOU HAVE KNOWLEDGE OF ANYONE ELSE POSSIBLY SPEAKING TO, 09:48:20 PARTICULARLY LEGAL COUNSEL, AT THE DEPARTMENT OF ENERGY IN AN 09:48:24 ATTEMPT TO PERSUADE OR EDUCATE THEM THAT THERE WAS A LEGAL 09:48:29 THEORY THAT WOULD ALLOW THE SUBORDINATION? 09:48:32 I WOULD HAVE QURD WHETHER YOU COULD AFFIRMATIVELY STATE YOU 09:48:35 DON'T HAVE ANITH IN OF REPRESENTATIVES SPEAKING TO 09:48:38 ANYONE PARTICULAR LEGAL COUNSEL AT THE DEPARTMENT OF ENERGY IN 09:48:40 AN ATTEMPT TO PERSUADE OR EDUCATE THEM THAT THERE WAS A 09:48:45 LEGAL THEORY THAT WOULD ALLOW SUBORDINATION. 09:48:47 THANK YOU, MR. CHAIRMAN, I YIELD BACK. 09:48:48 THE GENTLEMAN YIELDS BACK. WE HAVE COMPLETED OUR OPENING 09:48:52 STATEMENTS AT THIS POINT. SO NOW WE'LL MOVE TO THE 09:48:57 WITNESSES. MR. SULIMAN IS RECOGNIZED FOR 09:49:04 TWO MINUTES FOR AN OPENING STATEMENT. 09:49:05 THANK YOU, MR. CHAIRMAN. THIS IS A CRITICAL HEARING TO 09:49:09 EXAMINE SOLYNDRA'S REPRESENTATION ON FINANCIAL 09:49:13 STATUS TO THIS COMMITTEE AND DEPARTMENT OF ENERGY. 09:49:14 MR. HARRISON, ON JULY 21st YOU CAME TO MY OFFICE TO MEET WITH 09:49:19 ME AND I QUOTE FROM YOUR MEETING REQUEST TO MY OFFICE TO DISCUSS 09:49:24 SOLYNDRA'S CONTINUED SUCCESS IN THE GLOBAL MARKETPLACE. 09:49:26 I GUESS A LOT CAN CHANGE IN FIVE WEEKS. 09:49:29 IN OUR MEETING YOU LIED TO ME ABOUT THE FINANCIAL HEALTH OF 09:49:32 YOUR COMPANY BECAUSE JUST FIVE WEEKS LATER YOUR COMPANY WAS 09:49:35 BANKRUPT. WHAT HAPPENED? 09:49:37 TODAY I WANT TO KNOW HOW YOU'RE NOW BANKRUPT COMPANY GOT $535 09:49:42 MILLION TAXPAYER FUNDED LOAN GUARANTEE FROM D.O.E. AND I ALSO 09:49:45 WANT TO KNOW HOW YOUR CHIEF FINANCIAL OFFICER, MR. STOVER, 09:49:50 DUPED THE OBAMA ADMINISTRATION AND OTHERS ON THE FINANCIAL 09:49:53 HEALTH OF YOUR COMPANY. THE AMERICAN PEOPLE DESERVE 09:49:56 ANSWERS BECAUSE THEY FOOTED THE BILL. 09:49:58 DID YOU KNOW WHEN YOU WERE MEETING WITH ME AND OTHER 09:50:01 MEMBERS THAT YOUR COMPANY WOULD BE BANKRUPT FIVE WEEKS AFTER 09:50:04 YOUR HILL VISITS? AS A LONG TIME CRITIC OF THE C 09:50:10 SOLYNDRA LOAN GUARANTEE, I WANT TO KNOW WHAT HAPPENED. 09:50:18 I THINK AT THIS TIME WE ARE COMPLETE WITH OUR OPENING 09:50:20 STATEMENTS. WE'LL MOVE TO THE WITNESSES. 09:50:22 MY UNDERSTANDING IS THAT MR. HARRISON AND MR. STOVER 09:50:26 AUTHORIZED HAIR COUNSELS TO ADVISE THE COMMITTEE THAT THEY 09:50:33 WILL RELY ON THEIR CONSTITUTIONAL RIGHT NOT TO 09:50:34 TESTIFY TODAY. I BELIEVE THAT THIS PRIVILEGE 09:50:35 SHOULD BE PERSONALLY EXERCISED BEFORE THE MEMBERS AS WE HAVE 09:50:37 DONE IN THE PAST AND THAT IS WHY WE HAVE REQUESTED MR. HARRISON 09:50:42 AND MR. STOVER'S APPEARANCE TODAY. 09:50:45 I REQUEST THAT GIVEN THE IMPORTANCE OF THEIR TESTIMONY, 09:50:48 THEY RECONSIDER THEIR DECISION TO INVOKE THE FIFTH -- THEIR 09:50:52 FIFTH AMENDMENT RIGHTS ESPECIALLY HE BECAUSE THE 09:50:54 AMERICAN PEOPLE DESERVE ANSWERS ABOUT WHAT HAPPENED TO HALF A 09:50:57 BILLION DOLLARS OF THEIR MONEY. AND BECAUSE HARRISON MET WITH 09:51:02 MANY OF US AND MADE STATEMENTS TO US, WE THINK THEY SHOULD 09:51:06 ANSWER OUR QUESTIONS NOW. IN ADDITION, BOTH OF YOU AND 09:51:11 YOUR COMPANY SOLYNDRA HAVE MADE STATEMENTS THAT YOU DON'T KNOW 09:51:13 OF ANY WRONGDOING AND THAT YOU ARE COOPERATING WITH THE 09:51:17 DEPARTMENT OF JUSTICE. IF YOU'RE NOT AWARE OF ANY 09:51:23 WRONGDOING, HOW CAN YOU PLEAD THE FIFTH AND SAY ANSWERS WILL 09:51:26 EXPOSE YOU TO CRIMINAL LIABILITY? 09:51:28 I ASK YOU TODAY BOTH OF YOU TO RECONSIDER. 09:51:33 NOW GOING TO PLACE BOTH WITNESSES UNDER OATH. 09:51:39 MR. HARRISON, YOU'RE AWARE THE SUBCOMMITTEE IS HOLDING AN 09:51:41 INVESTIGATION AND WE HAVE THE PRACTICE OF TAKING TESTIMONY 09:51:43 UNDER OATH. DO YOU HAVE ANY OBJECTION TO 09:51:46 BEING UNDER OATH DURING YOUR TESTIMONY? 09:51:48 NO. MR. STOVER, YOU YOU ARE AWARE 09:51:51 THAT THE SUBCOMMITTEE IS HOLDING AN INVESTIGATIVE HEARING AND IN 09:51:54 DOING SO, WE HAVE THE PRACTICE OF TAKING TESTIMONY UNDER OATH. 09:51:59 YOU HAVE TO ANY OBJECTION TO BEING UNDER OATH DURING YOUR 09:52:02 TESTIMONY? NO. 09:52:03 GLT CHAIR ALSO ADVISES YOU THAT UNDER THE RULES OF THE HOUSE AND 09:52:06 RULES OF THE COMMITTEE, YOU ARE ENTITLED TO BE ADVISED BY 09:52:10 COUNSEL. DO YOU DESIRE TO BE ADVISED BY 09:52:13 COUNSEL DURING YOUR TESTIMONY TODAY? 09:52:16 MR. HARRISON? YES. 09:52:18 MR. STOVER? YES. 09:52:20 IN THAT CASE, WOULD YOU PLEASE IDENTIFY YOUR COUNSEL FOR 09:52:24 THE RECORD BY NAME? MR. WALT BROWN. 09:52:28 MR. STOVER? [ INAUDIBLE ] 09:52:31 AT THIS TIME WILL YOU BOTH PLEASE RISE AND RAISE YOUR RIGHT 09:52:35 HAND AND I WILL SWEAR YOU THIS. AND I NEED TO YOU MAKE SURE YOUR 09:52:39 MIKE IS ON IF YOU DON'T MIND. DO YOU BOTH SWEAR THAT THE 09:52:46 TESTIMONY THAT YOU ARE ABOUT TO GIVE IS THE WHOLE TRUTH AND 09:52:49 NOTHING BUT THE TRUTH SO HELP YOU GOD? 09:52:52 YES. THANK YOU, MR. HARRISON, 09:52:55 THANK YOU, MR. STOVER. THE CHAIRMAN RECOGNIZES HIMSELF 09:53:01 FOR QUESTIONING OF THE WITNESSES. 09:53:05 AND I SHOULD BE LESS THAN TWO MINUTES HOPEFULLY. 09:53:09 MR. HARRISON AND MR. STOVER, WAS EVERY DOCUMENT AND PIECE OF 09:53:12 INFORMATION YOU SUBMITTED TO THE DEPARTMENT OF ENERGY AND THE 09:53:15 WHITE HOUSE OFFICE OF MANAGEMENT AND BUDGET, UNITED STATES OF 09:53:17 CONGRESS AND YOUR INVESTORS ACCURATE, COMPLETE TO THE BEST 09:53:22 OF YOUR KNOWLEDGE? Stover pleads Fifth Amendment STOVER:MR. CHAIRMAN, I HAVE 09:53:25 TREMENDOUS RESPECT FOR THIS SUBCOMMITTEE AND THE IMPORTANT 09:53:28 OVERSIGHT ROLE THAT IT PLAYS. AS MUCH AS I WISH TO BE ABLE TO 09:53:31 ANSWER THE MEMBERS' QUESTIONS, I HAVE BEEN ADVISED BY MY COUNSEL 09:53:35 THAT IT IS THE BETTER KOIRS FOR ME TO ASSERT MY CONSTITUTIONAL 09:53:39 RIGHT TO DECLINE TO ANSWER QUESTIONS UNDER THE FIFTH 09:53:42 AMENDMENT. WHILE I HOPE TO HAVE AN 09:53:45 OPPORTUNITY TO ASSIST THIS COMMITTEE'S INQUIRY IN THE 09:53:47 FUTURE, ON THE ADVICE OF MY ATTORNEY, I MUST RESPECTFULLY 09:53:51 DECLINE TO ANSWER ANY QUESTIONS PUT FORTH TO ME BY THIS 09:53:54 COMMITTEE. MR. STOVER. 09:53:56 MR. CHAIRMAN, ON THE ADVICE OF MY COUNSEL, I MUST INVOKE THE 09:54:00 PRIVILEGE AFFORDED BY THE FIFTH AMENDMENT TO THE U.S. 09:54:03 CONSTITUTION AND I RESPECTFULLY DECLINE TO ANSWER ANY QUESTIONS 09:54:06 PUT TO ME BY THIS COMMITTEE AND SUBCOMMITTEE. 09:54:09 I HAVE GREAT RESPECT FOR THE CRUCIAL OVERSIGHT ROLE THAT 09:54:11 CONGRESS PLAYS IN OUR DEMOCRACY. I TRUST THAT THE MEMBERS OF THIS 09:54:16 SUBCOMMITTEE SIMILARLY HAVE GREAT RESPECT FOR THE PRIVILEGE 09:54:19 FURDED EVERY CITIZEN BY THE FIFTH AMENDMENT. 09:54:21 MR. STOVER, KNOWING THE FINANCIAL CONDITIONS OF THE 09:54:24 COMPANY IN MID-JULY, WERE YOU AWARE OF MR. HARRISON COMING TO 09:54:28 CONGRESS AND PAYING SUCH A ROSY PICTURE OF THE COMPANY, DID YOU 09:54:33 REVIEW ALL THE FINANCIAL INFORMATION BEING PRESENTED TO 09:54:35 MEMBERS OF CONGRESS, TECHT OF ENERGY AND OMB AND DID YOU 09:54:39 DISCUSS IT WITH MR. HARRISON? ON THE ADVICE OF MY COUNSEL, 09:54:48 I INVOKE THE PRIVILEGE OF THE FIFTH AMENDMENT AND I 09:54:50 RESPECTFULLY DECLINE TO ANSWER ANY QUESTION. 09:54:54 MY TIME HAS EXPIRED. WE'LL GO TO THE GENTLEMAN FROM 09:54:58 TEXAS RECOGNIZED FOR A MINUTE AND A HALF. 09:55:02 I'M SORRY. WE RECOGNIZE -- I THINK WHAT 09:55:06 WE'LL DO IS GO FIVE MINUTES ON THIS SIDE AND THEN FIVE MINUTES 09:55:10 ON THEIR SIDE. I 09:55:15 SO MR. BARTON. COULD I INQUIRE OF THE CHAIR 09:55:19 IF THE WITNESSES WERE GIVEN AN OPPORTUNITY TO GIVE AN OPENING 09:55:21 STATEMENT IN THEY DIDN'T, BUT WERE THEY OFFERED THAT? 09:55:27 NO, THEY WERE NOT. 09:55:30 THEY'RE CERTAINLY WELCOME TO SPEAK TODAY. 09:55:32 I WOULD ASK UNANIMOUS CONSENT THAT WE GIVE HELP THE 09:55:35 OPPORTUNITY TO GIVE A STATEMENT IF EITHER OF THEM WISHES TO. 09:55:44 NORMALLY WE LIVE WITNESSES AN OPPORTUNITY TO MAKE A STATEMENT. 09:55:48 IT'S MY UNDERSTANDING, MR. BARTON, THAT WHEN YOU'RE TAKING 09:55:52 THE FIFTH, THERE IS NO OPPORTUNITY FOR OPENING 09:55:55 STATEMENTS. IF THE GENTLEMAN WILL YIELD, 09:56:01 THE WAY THE SUBCOMMITTEE HAS OPERATED FOR THE LAST NUMBER OF 09:56:07 YEARS IS WHEN WITNESSES APPEAR TO TAKE THE FIFTH, THEY 09:56:14 GENERALLY DON'T GIVE AN OPENING STATEMENT, BUT I WOULD HAVE NO 09:56:16 OBJECTION IF EITHER -- I JUST THINK WE SHOULD GIVE 09:56:19 THEM AN OPPORTUNITY TO SHOW THAT WE'RE FAIR AND BALANCED AS THEY 09:56:25 SAY. MR. BARTON, WE'RE TOLD BY 09:56:30 THEIR COUNSEL THEY DID NOT WISH TO GIVE AN OPENING STATEMENT AND 09:56:33 THAT'S WHAT WE'RE HEARING FROM THEIR COUNSEL. 09:56:37 WE WERE ALSO TOLD THEY WERE GOING TO ANSWER QUESTIONS. 09:56:39 WELL, I THINK THIS IS A FINE POINT, BUT I THINK JUDGING FROM 09:56:42 THE COUNSEL'S REACTION HERE, THEY DO NOT WISH TO GIVE OPENING 09:56:47 STATEMENTS. I THINK IF YOU'LL LOOK AT THEIR 09:56:49 NODDING HEADS, I THINK THAT SHOULD BE APPARENT TO YOU THEY 09:56:52 DO NOT WISH TO GIVE OPENING STATEMENTS. 09:56:54 DO YOU WISH TO GIVE AN OPENING STATEMENT? 09:56:55 I WISH TO ASK QUESTIONS. YOU CAN GO AHEAD AND ASK YOUR 09:57:02 QUESTIONS, YES. I WANT TO ASK MR. HARRISON IF 09:57:06 HE THINKS THE AMERICAN PEOPLE WHO INVESTED OVER HALF A BILLION 09:57:09 DOLLARS DESERVE TO KNOW WHAT HAPPENED TO THAT MONEY. Fifth amendment 09:57:12 ON THE ADVICE OF MY COUNSEL, I INVOKE THE PRIVILEGE AFFORDED 09:57:16 TO ME BY THE FIFTH AMENDMENT OF THE CONSTITUTION AND I 09:57:19 RESPECTFULLY DECLINE TO ANSWER ANY QUESTIONS. 09:57:25 SAME QUESTION TO MR. STOVER. ON THE ADVICE OF MY COUNSEL, 09:57:28 I INVOKE THE PRIVILEGE AFFORDED TO ME BY THE FIFTH AMENDMENT OF 09:57:30 THE CONSTITUTION AND I RESPECTFULLY DECLINE TO ANSWER 09:57:31 ANY QUESTIONS. I DON'T UNDERSTAND WHAT SELF 09:57:36 INCRIMINATING ABOUT A YES OR NO ANSWER AS TO WHETHER THE 09:57:39 AMERICAN PEOPLE DESERVE TO KNOW WHAT HAPPENED OVER HALF A 09:57:41 BILLION DOLLARS OF THEIR MONEY, BUT THEN I'M NOT A DEFENSE 09:57:48 LAWYER, MR. CHAIRMAN. I WOULD SECONDLY LIKE TO KNOW 09:57:54 WHAT CHANGED BETWEEN JANUARY OF 2009 WHEN THE BUSH 09:57:59 ADMINISTRATION AT DOE REJECTED THE LOAN APPLICATION TO MARCH OF 09:58:04 2009 WHEN THE OBAMA ADMINISTRATION REVERSED COURSE 09:58:07 AND APPROVED THIS HALF A BILLION DOLLAR LOAN? 09:58:10 MR. HARRISON, WOULD YOU CARE TO ANSWER THAT QUESTION? 09:58:13 ON THE ADVICE OF MY COUNSEL, I INVOKE THE PRIVILEGE AFFORDED 09:58:15 TO ME BY THE FIFTH AMENDMENT OF THE CONSTITUTION AND I 09:58:18 RESPECTFULLY DECLINE TO ANSWER ANY QUESTIONS. 09:58:23 I'D LIKE TO ASK THE SAME QUESTION TO MR. STOVER. 09:58:26 ON THE ADVICE OF MY COUNSEL, I INVOKE THE PRIVILEGE AFFORDED 09:58:28 TO ME BY THE FIFTH AMENDMENT OF THE CONSTITUTION AND I 09:58:30 RESPECTFULLY DECLINE TO ANSWER ANY QUESTIONS. 09:58:34 AGAIN, MR. CHAIRMAN, I'M PUZZLED BY THE ASSERTION OF 09:58:39 RIGHT AGAINST SELF-INCRIMINATION WHICH THE ONLY OBVIOUS THING 09:58:43 THAT CHANGED IS THE OCCUPANT IN THE WHITE HOUSE AND THAT'S 09:58:45 CERTAINLY NOT ILLEGAL FOR THE AMERICAN PEOPLE TO DECIDE TO PUT 09:58:48 A NEW PRESIDENT IN THE WHITE HOUSE. 09:58:51 I'VE GOT TIME FOR ONE MORE QUESTION. 09:58:55 IS IS IT NOT TRUE, MR. HARRISON, THAT THE FORMER CEO AND OTHER 09:59:00 INVESTORS OF SOLYNDRA MET

ABCNEWS VideoSource Details

White House Press Briefing by Tony Snow

White House Press Briefing by Tony Snow James S. Brady Briefing Room. 1:00 P.M. EDT MR. SNOW: This is good. Good to see you all. I'll try to keep this brief, because I do want to make it for the meeting with our Ambassador to Iraq in a few minutes. Obviously, the President is engaged in vigorous outreach to a number of leaders on the issues of concern. And he had a good meeting with Prime Minister Harper, as you got to see and we all got to sing "Happy Birthday," as well. So, questions. Wow. (Laughter.) This is going to be shorter than I thought. (Laughter.) Go ahead. Q The Mexican elections, the Prime Minister mentioned them in his press conference with President Bush. I wondered if you can give more details about it. MR. SNOW: He simply made the point that he supports the electoral process in Mexico, which is transparent, and therefore, he is willing to work with whomever emerges as the winner in the contest. Q Has he received the news that they are ready to declare a winner? MR. SNOW: Has it been officially declared? I thought it was to be -- Q Yes. MR. SNOW: And who was the winner? Q Calderón -- MR. SNOW: Well, both leaders had expressed a willingness, because you know the numbers have been bouncing around. So what you've told me, and I'm embarrassed to say, is news to me. I'm sure that there will be congratulations expressed on both sides quite soon. Right now, just to give you a sense of the President's schedule, he went straight from the press briefing with the Prime Minister -- they're in a working lunch. And as soon as that's over, he'll be meeting in the Oval Office with Zal Khalilzad. Q Why a news conference in Chicago tomorrow? What's that about? MR. SNOW: Keeping you happy. (Laughter.) Q He can do that here. MR. SNOW: No, it's -- you know, the President actually -- the President, you may recall, where was -- was it Laredo? Was it Laredo? I'm trying to remember which of the stops where -- Q Laredo. MR. SNOW: -- he did a press conference there. The President likes going into a place -- and I think you're going to see a little bit more of this -- likes to go in and spend a little bit of time there, talk to local leaders, also build some events around a central theme -- in this case, it's the economy and also the competitiveness initiative. And one of the other things is to do a press availability, and this will be a press availability, obviously, for local and national press. Q Tony, I just want to clarify that. Local reporters and national -- MR. SNOW: Yes. Q Have you gotten a readout on what's happened between Solana and Larajani? MR. SNOW: No. We'll try to provide whatever guidance -- probably later in the day, we'll have an NSC readout. It may also -- I don't know if that's going to fit neatly into the G8 briefing, but we'll try to figure out some way. Frankly, with the press of events, some of those things are a little slow in coming, and my apologies. Q Tony, there are some reports suggesting that North Korea may be within days of preparing to launch another long-range missile. What is the White House understanding? There are all kinds of reports flying around. MR. SNOW: Nobody really has -- I mean, look, even before the launches in that less than 24-hour period, nobody knew precisely what was going to happen. I mean, one of the problems in dealing with North Korea is you've got a society that doesn't communicate with the rest of the world, and, as the President pointed out in the press conference, simply decided to launch, after specific requests from all the other parties in the six-party talks, and after direct, diplomatic discussions with other parties. So we don't know what's going to happen. What we hope is that there are no further launches. It's -- again, let me reiterate a point I made earlier, which is, if the government of North Korea thinks that it's going to derive some sort of benefit from doing this, it's wrong. And there is -- all parties involved are agreed upon that point. Q Just one quick follow-up. When the President was saying earlier that stressing diplomacy will take some time -- MR. SNOW: Yes. Q -- was that a reference, in part, to Russia and China seeming to be reluctant? MR. SNOW: No, because, you know, what they're not reluctant -- they are not reluctant about the central theme, which is to figure out how to make the North Koreans stop. And I think -- I don't want to get too much behind the scenes on the diplomacy, but I think you'll find out in time that some of it's been mischaracterized, and I'm not going to go any further than that. But here's -- the most important thing is, everybody shares the goal not only of having a -- making sure that there is no nuclear proliferation, they want a non-nuclear Korean Peninsula. They want the North Koreans to abide by previous promises to set aside and shut down their nuclear weapon-building program, and furthermore, to cease with missile launches. That's the specific desire -- and to return to the six-party talks. They return to the six-party talks, they behave, and they do it in a way that's credible, then, all of a sudden, other options become available not only to the leader, but also to the rest of the country. And the President made a powerful and important point when he talked about the fact that you have North Koreans, by some estimates, 2 million or more, who have starved to death. And you've got a humanitarian crisis within that country, a deeply closed society, and those people deserve better. Q Tony, one week ago the President said in the East Room that a missile launch, a test firing would be unacceptable. MR. SNOW: It still is. Q China is now, at least publicly, saying that they're not for harsh sanctions against North Korea -- MR. SNOW: Well, again, Brett -- Q -- saying that they fear that the regime could crumble and that causes a refugee problem for them. MR. SNOW: Yes. Q Barring China's support, what are the tools that you could punish North Korea -- MR. SNOW: Brett, there are many tools. And already you've seen the Japanese, for instance, proceeding in their own way in saying, no port access and no travel available. But I'm not going to lay out for your the full options because -- neither am I go to start engaging in public negotiations. The important point that the President made and others made is that you act as a unit. And don't -- I would caution against drawing any firm conclusions until this process is over. Some people are making points publicly, but at the same point -- at the same time, there are discussions going on, vigorous discussions in the region. Chris Hill, for all I know is now in Beijing. He is certainly on his way. That's his first stop as he visits the leaders in the other capitals. And all options are still alive, and we're going to have to see which option the five parties in the six-party talks believe are going to be effective in getting the North Koreans to cease and desist and to return to the negotiating table. So rather than trying to get into the jousting about what the Chinese may be saying, or what a Russian official -- let's just wait and see what happens. I think that's the most important thing. They're going to do as a unit what they think is going to be most effective in achieving the desired result. Q If I could follow, if the first test firing was unacceptable, what's the potential second test firing? MR. SNOW: Well, look, we've had seven firings. They're all unacceptable, each and every one of them. Let's deal with that if and when it happens. I really -- it's one of these things. Remember -- poor Ivan, I was beating up on him last week for asking me hypothetical questions. Q -- three times, you said. (Laughter.) MR. SNOW: Well, I told you I was never going to answer your question. As it turned out, I never did. (Laughter.) But the fact is, let's see what happens. And if it comes to that eventuality, we'll give you a response. Q But following on Ed, intelligence is indicating that they have other Taepodong-2s that potentially they could put up on the pad -- MR. SNOW: That is correct. Well, I don't know -- you may have more intelligence than I. The reports that I've -- the public reports that I've seen say that there may be an attempt to get one launch ready. I don't know if that's true, or not. But again, the smart thing, if the North Koreans really do -- if they really think they're going to get any benefit out of it, they're just absolutely wrong. And I think that they're receiving that word not only from the United States, but from the Japanese and the Chinese. The Chinese have sent their top diplomat to Pyongyang, as I mentioned this morning. People are making the message as clear as possible to the regime. We're going to find out if the regime is going to listen. Q Tony -- MR. SNOW: Right now, keep it all on North Korea. If it's not on North Korea -- Q Tony, who is helping North Korea to develop this missile technology? And also, do you think the six-party talks are a failure? Because at least China is a failure because China has failed in the six-party talks because -- MR. SNOW: Okay, the idea the people engaged in diplomacy -- the failure comes on the part of the government of North Korea. And if you want to talk about a failed state, here's a state where its people are starving, where its infrastructure is decrepit, where you've got a leader who is completely isolated from the rest of the world, where, as Prime Minister Harper ably put it, wants to be a threat, and is -- that is a failure. That's what a failure is. What you're going to have are people trying to speak reason to a government and to say, you need to abide by your past promises. And if you do, good things are going to happen. That's how diplomacy works, and it is not a snap. When a diplomatic initiative is not met with the proper response, it is not the failure of the people who behaved reasonably, it's the failure of the people who behaved unreasonably. And I think it is clear to say that the government of North Korea behaved unreasonably. Q If I could follow, do you think the United Nations is doing enough to correct this -- from North Korea? What is the international community doing -- MR. SNOW: Again, they're talking. This is -- everybody -- it's like you guys want to do diplomacy with an egg timer. As the President said, it requires patience and persistence here. You've got a lot of people who have a lot of ideas about how best to proceed. And it is worth going ahead and trying to measure different alternatives and debate them out. That's what they're doing in the United Nations, and that's what our diplomats are doing in the region. And I can guarantee you, everybody has the same goal: They don't want to see further launches; they don't want to see a nuclear Korean Peninsula; and they're going to do everything they can to protect it. You've got to keep in mind that the people with the greatest vested interest in this are the people who live in the neighborhood. So they're not going to pursue policies that they don't think are going to be effective. And at this point, I know it's fun to try to sort of play the chess game about who's going to say what, but very smart, determined, dedicated and interested minds are trying to apply themselves to the business of trying to get this resolved peacefully. Q Will the President have anything new and pithy to say on Larry King tonight in the prepared statement of sorts? And will he be returning to the White House from Chicago, or going to Camp David? MR. SNOW: You mean is he going to say, thank you, Larry, and pull out a sheet and clear his throat and deliver a statement? Q Well, the President, although perhaps not as well-spoken as you, is capable of speaking -- MR. SNOW: Yes. No, he's not going to do a prepared statement. I mean, I think this is keyed off the President's birthday, and obviously, Larry will ask whatever he wants. But as somebody who had done interviews of this sort and been in the business, look, the last thing any interviewer wants is for somebody to come on and just recite stuff. And so you're going to have the President and the First Lady -- Q I didn't mean that -- sometimes a question is a means to come up with, if you will, a prepared answer. Even though it doesn't sound like one. I'm just asking -- MR. SNOW: Well, far be it for me -- (laughter.) I don't know. I don't have any clue. Q What's he going to do, though? MR. SNOW: Talk to the President. I think the President is going to this because he wants to do an interview with Larry King -- he and the First Lady are going to talk to Larry King. And so now what we're doing is providing a wonderful commercial for Mr. King's broadcast. We still have North Korea -- Connie, do you have a North Korea question? Q I do. Tony, what is the timetable by which the President would like the five nations to come to an agreement on sanctions? And is he concerned that as this debate goes on, the disagreements embolden the North Koreans? MR. SNOW: If the North Koreans want to be emboldened by deepening their failure, that's their business. But I'm not sure that it makes sense to describe what North Korea -- I mean, I don't know what you mean by embolden. You mean the fact that people are debating how to make them stop will make them bolder? I'm sure that's something that one takes into account. On the other hand, the North Koreans have to assess the other alternative, which is, if they continue down this road, what does it mean? The Japanese have already signaled some pretty clear intentions at least to take some preliminary steps. I don't know what the Chinese are telling them. The Chinese now have, as I said, dispatched the top diplomat to the region. It's important, again, to say that while there are unilateral steps the nations that have direct diplomatic ties with the North Koreans may take, the most important thing is what the group together is going to do. There is a certain sense of urgency in getting it done. There are no timetables on this, and the last thing that anybody wants to do -- Q -- weeks, not months? MR. SNOW: We're just talking as long as it takes. And the last thing anybody wants is to let the North Koreans think -- and one of the assumptions in your question is are we going to let them drive the bus? And the answer is, no. Q (inaudible) -- mentioned yesterday, any kind of sanctions against North Korea will be regarded as an act of war. Therefore, North Korea will take full-scale counter-measures against North Korea. What will be your comment on that? MR. SNOW: North Korea will take countermeasures against North Korea? Q Against the -- I mean, United States, or any of the five? MR. SNOW: I would characterize that as an act of rhetoric. Q Yes, Tony. Two questions. MR. SNOW: First, is that North Korea? Q Yes, the first is North Korea. MR. SNOW: Okay, we will divide the first and let the second die a crib death. Go ahead. (Laughter.) Q Before North Korea launched its missiles on July 4th, the President said the U.S. would attempt to shoot down any missiles headed towards U.S. territory, but it was civil -- but it was Cold War policy of launch on warning that kept the uneasy peace between the Soviet Union and U.S. for 40 years. And my question, has the U.S. abandoned its launch on warning policy? MR. SNOW: I'm not going to get into the vagaries of -- Q -- if I could finish. Is it not a signal of weakness to our enemies, many of them stateless terrorists, to suggest the U.S. will absorb a first strike before retaliating with their own nuclear weapons? MR. SNOW: That's one of the all time great preposterous questions. (Laughter.) Q Coming from the network. And I don't think it's preposterous. MR. SNOW: Well, memo to boss is, send the weak stuff back. No, look, I do think it's preposterous. And it's one of these things where this is something that has not come into play, and I'm not going to -- the United States reserves all options to defend itself. And I am going to go no further than that. Q Can I come back? MR. SNOW: I hope so. We'll see. Q Do current military obligations in any way limit or restrict potential U.S. responses to North Korea? MR. SNOW: Not that I'm aware of, but that's probably better posed to the Pentagon, which would have -- it's not a question that I can give you an informed answer to. Q Doesn't the White House operate under some parameters of what can be done, given -- MR. SNOW: I'm sure they do, but again, I'm not sitting around in the war-planning sessions should their be any such things, and I'm not aware of any. So everybody, relax, stand down. So I mean, I honestly don't know how to answer your question. I really do think that's one -- the President, as Commander-in-Chief, as you know, delegates considerable authority to his commanders. And, yes, there are rules and parameters. I just can't help you on it. I mean if you want a quick answer to it, give Eric Ruff a ring over at the Pentagon, and he may be able to give you something more precise. I just don't want to mislead you. Q Tony, can you expand on the President's statement today that Kim Jong-il is going to be less of a threat, the more he is isolated? Some experts say that with a leader as unstable as he is, if he's backed to a wall, he could do just about anything. MR. SNOW: Well, this gets into the tea leaf reading about is he sane or is he not, and I'm afraid I can't answer it. There is also this -- you've heard, Brett -- a lot of people think, well the theory -- and the Wall Street Journal has this as an editorial -- is that in the past, by behaving badly, he has received certain benefits and emoluments. The only thing I can say, again, is that if that's what he thinks, he's miscalculated in this case. But it is notoriously difficult to read his mind, and therefore, I really don't want to try to engage in scenario building based on that. Obviously, anybody -- let me put it this way -- I think the President made the point is that you plan for the worst and hope for the best. So when you're thinking through scenarios, you think through every possible scenario, how you coordinate and respond. But for me to start running through those, I don't think is appropriate right here. Q Somebody must be advising him from outside, or helping him to go to pick a fight with the international community in this time of -- MR. SNOW: I'm not sure that's the case. I mean, I'm really not sure, Goyal. And the other thing is -- one of the other dangers here is that North Korea -- again, North Korea, with these launches, is trying to provoke. It's trying to get people to panic. It's trying to get people to respond. It's trying to get people to say that the government is a threat, and by golly, what we need to do is to appease them. And that is simply not the way the international community has responded. One of the results of extended diplomacy on the part of this administration has been to bring together people who, in the past, were afraid -- or I shouldn't say afraid -- who were more reluctant to challenge -- what are you guys doing -- who are a bit reluctant to go ahead and push the North Koreans. And I think what you now see is concerted pressure from everybody in the neighborhood to do so. Q Can I ask a domestic question -- MR. SNOW: Well, first, I promised -- Kevin, you got one? Q Yeah, a North Korea question. I just want to make sure I'm clear. Essentially, it doesn't matter how many tests or missiles they send up, the American stance is going to be the same diplomatically in that we're going to keep trying to encourage them to go to the six-party talks -- MR. SNOW: No, I think. No, no. No, I don't want you to get the sense that it doesn't matter how many missiles they send off. Each one matters. The other thing is, it does take time to assess what's going on. The President talked a little bit, as I mentioned, in the past couple of days -- you take a look at the telemetry. What can you conclude based on what seems to have been a designed flight path. And when you have something that's up for 42 seconds, in the case of the Taepodong-2, it takes time to figure that out. You may recall the Taepodong-1 launch back in 1998, we didn't even know it was a three-stager for some time. It is a fairly complex business to try to do the research. And I guarantee you, the Russians are doing the same thing, and the Chinese are doing the same, and the Japanese, and the South Koreans. Everybody is trying right now to take a look at the data, and it takes longer to assemble than we might like, but it's going to take time. Each and every launch is unacceptable. And, again, you do not take them lightly. And I think what's become clear is that the North Koreans, at least so far, have been perfectly happy to defy all of their neighbors in doing this. And I think that it's probably going to add to the resolve for getting this done right and getting it done quickly. Q One other question, Tony? MR. SNOW: Yes. Q Hamas has threatened to murder that 19-year-old Israeli corporal that they captured. In the even that they do and Israel retaliates by hanging one or more Hamas leaders, the President will not condemn Israel, will he, since murdering of nine confederate POWs by General Custer in 1864 was stopped by Colonel Mosbey's hanging eight of Custer's command? There is a precedent for stopping the murder of prisoners of war in the United States. If Israel follows that same thing, they will not be condemned by the President, will they? MR. SNOW: I amend my characterization of your earlier question. (Laughter.) Q You are evading the question. You are evading the question, and you know it. MR. SNOW: Why didn't you just -- you decided upon specific means of retaliation, Lester. (Laughter.) Connie? Q On the New York ruling on same-sex marriage, does the President have a reaction to that? MR. SNOW: Not that I'm aware of. And I have not heard any conversation about it, so we'll get back to you later on it. I mean, the President's position on marriage has been consistent and clear. Q And this one, I don't know if anyone could answer this, but it seems outrageous -- I mean, I'm sorry Ken Lay died, sorry for his family, but I don't understand why the creditors can't somehow sue the estate, just because he died. There's nothing the White House can do to help those poor people out? MR. SNOW: As I said yesterday also, when it comes to legal matters, the White House, we give duly constituted legal authorities who do their work, and we will allow the court system to process in whatever way, to probate the estate as it sees fit. I am not going to just -- Q The slate is wiped clean because he died. MR. SNOW: Well, I can't help you with that. Q Would you be kind enough to amplify, if you know more travel plans, could you say that the President, after the Chicago trip is going to go out and see more of the country? MR. SNOW: Yes. Q How often will he try and do this? MR. SNOW: It really won't -- I mean, you know how it works. We tend to give week-ahead views, and I'm not going to go too far ahead on the schedule. But you will notice it. I mean, it's not going to be like every week there's going to be such an event. But you're going to see some times where the President goes out, spends a bit of time in a place, talks with the leaders, drills into the issues, listens to what they have to say, builds trips generally around one topic -- in this case, job growth and job development and economic development. And in this case also, since tomorrow is a so-called 'jobs day' -- that is, the economic data being released -- it provides a time that is appropriate for doing it. Q And if I may quickly follow up, when you talk about your desire to get questions from local press, does that mean format-wise, there will actually be questions that the President will deliberately say -- call on local press? MR. SNOW: Yes. I think we're going to mix it up. Q I want to ask a question that I asked yesterday. How is civil rights the cornerstone of this administration? MR. SNOW: The President has always talked about civil rights as a cornerstone in a number of ways. It is clear that in this nation, there have been people who have been left behind, that there was long history of discrimination in this nation that has been a stain, that American people have to work together to figure out not merely how to blot the stain, but how to heal the wounds. And the President has tried to reach out with faith-based initiatives. He's tried to do it by talking about not only No Child Left Behind, but also initiatives to allow people the choice to go to the best available schools. And I think the way you try to deal with civil rights is to try to create an atmosphere in which people can lay aside old prejudices and also try to remove that debris, because that is debris that stands between us and a better future. And you do that in a number of ways. You do that by building a stronger economy that can offer jobs to more. You do it by trying to make sure that everybody has an opportunity to be educated and trained in such a way as to take full advantage of it. You try to do that by doing family initiatives, because in many poor neighborhoods in this country there is one feature that stands out, and that is single-parent households where people toil heroically, but there is a difference -- and to try to rebuild families safe and whole. It's important, when you talk about crime, that somebody can walk the streets without having to worry about random acts of violence and shooting. In other words, civil rights is an extension of common sense, which is, in common sense, what you want to do is to build a society where young men and women have the opportunity to grow up in safe neighborhoods, attend good schools, be embraced by parents who love them and whose love they can count upon, and to do it in a way to know that they are not going to be victimized because of their race, because of their skin color, and because of their background. Civil rights is built around a whole series of programs, and they extend those same benefits to everybody. But for those who have never had them before, it is the hope that that is going to help transform their lives. If you talk about -- there are job training programs. There are reconstruction programs. There are business grant programs. There are attempts to do targeted grants. We're going to be seeing some of this, as well. And that's how you build civil rights. In many ways, the infrastructure that says bigotry is illegal has been constructed. But now comes the business of removing the barriers that still remain in the way, so the American Dream can be accessible to all. Q Did Hurricane Katrina divert the laying of that cornerstone of civil rights? MR. SNOW: No, I think what Hurricane Katrina did was to expose some ways -- to wake everybody up to the difficulty, not only of dealing with natural disasters, but their aftermath. Got to go, guys. Thank you very much. END 1:30 P.M. EDT

ABCNEWS VideoSource Details

HOUSE ENERGY SUBCOMMITTEE HEARING WITH SECRETARY CHU 1100

House Energy and Commerce Subcommittee hearing with Steven Chu, Secretary of Energy and Gregory Jaczo, Chairman of the Nuclear Regulatory Commission 11:00 11:00:00 BLACKWATER HAS PASSED UNDER THE BRIDGE. 11:00:02 THAT'S THE CHARGE OF THAT COMMITTEE. 11:00:04 I BELIEVE THEY'RE COMING OUT WITH RESULTS THIS JUNE. 11:00:07 I SUSPECT YOU KNOW OUR POSITION. 11:00:09 BUT NOT ONLY WATER OVER THE BRIDGE, BUT SOME RADIO ACTIVE 11:00:12 WATER MAY BE BURNING RIGHT NOW AND WE HAVE POOLS AROUND THIS 11:00:16 COUNTRY IN SCORES OF PLACES THAT PRESENT RISK, NOT JUST FINANCIAL 11:00:21 RISKS, SO WE'RE GOING TO CONTINUE TO PRESS THE 11:00:24 ADMINISTRATION ON THIS ISSUE. THANK YOU, MR. SECRETARY. 11:00:26 THANK YOU. AT THIS TIME, RECOGNIZE THE 11:00:28 GENTLEMAN FROM WEST VIRGINIA FOR FIVE MINUTES. 11:00:30 MR. McKINLEY. THANK YOU, MR. CHAIRMAN. 11:00:40 THERE WERE SEVERAL QUESTIONS I HAVE WITH ONE WAS THERE HAD BEEN 11:00:45 A DIALOGUE FROM PEOPLE THAT HAVE COME BEFORE YOU IN THIS HEARING 11:00:49 HAVE CALLED ABOUT COAL SUBSIDIES. 11:00:52 COULD YOU PROVIDE US THAT? I DON'T EXPECT YOU TO GIVE THEM 11:00:56 NOW, BUT COULD YOU SHARE WITH US THOSE COMPANIES BEING SUBSIDIZED 11:01:01 AND HOW THAT IS? BECAUSE PEOPLE SEEM TO BE 11:01:03 LOOSELY APPLYING THEIR COAL SUBSIDIES AND I'VE HAD 11:01:08 OPPORTUNITIES TO TALK TO A FEW COAL COMPANIES AND THEY'RE NOT 11:01:11 GETTING ANY SUBSIDIES. THERE'S ANOTHER ISSUE, THE SOAP 11:01:16 PROGRAM. THE SMALL OPERATORS ASSISTANCE 11:01:19 PROGRAM. THERE SEEMS TO BE SOME FUNDING 11:01:23 DIFFICULTIES WITH THAT AND I WOULD APPRECIATE IF YOU WOULD 11:01:25 LOOK INTO THAT. YOUR DEPARTMENT IS NOT FREEING 11:01:28 UP MONEY FOR THE STATE TO REIMBURSE SOME OF THE SMALL 11:01:31 OPERATORS THAT ARE PRODUCING COAL. 11:01:32 SO IF YOU COULD GET BACK TO ME ON THAT, I'D APPRECIATE IT. 11:01:36 ALSO, AS IT RELATES TO A FUN G ING RATIOS. 11:01:44 IT WAS ALLEGED EARLIER THAT SINCE YOU'VE BEEN FUNDED 11:01:48 SOMEWHERE IN THE EARLY '70s, YOU'VE PROBABLY RECEIVED MAYBE 11:01:53 $800 BILLION IN COSTS, REVENUE TO OPERATE. 11:02:04 ON A COST BENEFIT RATIO, IF YOU COULD SHARE WITH US SOMETIME, 11:02:06 WHAT ARE THE BENEFITS WE'VE RECEIVED OUT OF THAT $800 11:02:12 BILLION. I DON'T WANT TO GET INTO THAT 11:02:14 RIGHT NOW. I'M SURE IT COULD GO ON FOR SOME 11:02:16 TIME. I'VE GOT TO ASSUME, I'M HOPING 11:02:19 IT'S MORE THAN A 1-1 RATIO. MORE IMPORTANTLY, WHERE I WANT 11:02:29 TO SPEND MORE TIME, THE NATIONAL ENERGY TECHNOLOGY LABS IN 11:02:32 PENNSYLVANIA, TEXAS, ALASKA, OREGON, WEST VIRGINIA. 11:02:38 WHEN I MET WITH THEM, THEY INDICATED THAT THEY ARE THE ONLY 11:02:41 LABORATORY FOR THE DOE. OWNED AND OPERATED BY THE D.O.E. 11:02:51 AND THEY'RE INDICATING THAT YOU'RE PROPOSING THE BUDGET 11:02:56 BEING PROPOSED IS GOING TO BE REDUCED THEIR EXPENDITURE BY 11:03:00 ALMOST $800 MILLION. BY THEIR OWN DATA THEY HAVE. 11:03:06 THAT'S VERY THREATENING BECAUSE I SEE A PARADOX WITH THIS. 11:03:11 I HEARD THE ADMINISTRATION TALKING ABOUT WE WANT TO DO MORE 11:03:15 RESEARCH AND DEVELOPMENT IN ENERGY, BUT YET THE VERY ENERGY 11:03:20 SOURCE, THE LABORATORY YOU ALL FUND IS BEING REDUCED BY $800 11:03:26 MILLION. THERE MUST BE A MISUNDERSTANDING 11:03:29 THERE SOME PLACE, EITHER THE ADMINISTRATION MAKING THAT 11:03:32 REPRESENTATION OR THE DATA THAT THEY HAVE PROVIDED IN A CHART. 11:03:35 SO IF YOU COULD PROVIDE US SOMETHING BACK ON THAT. 11:03:39 THEY'RE DOING SOME WONDERFUL THINGS THERE AT THE NATO AND 11:03:41 THEY'RE TRYING TO BUILD RESEARCH COOPERATIVES WITH THE 11:03:48 UNIVERSITIES IN THE AREA. AND FOR US TO CUT THEIR SPENDING 11:03:52 IS JUST UNCONSCIONABLE. SO, FOR EXAMPLE, ONE IS WITH THE 11:04:00 MARCELLUS SHALE WE HAVE IN PENNSYLVANIA, NEW YORK, WEST 11:04:02 VIRGINIA AND LIKE, THEY'RE TRYING TO FIND WAYS THROUGH NATO 11:04:06 OF GETTING MORE THAN 15% OF THE GAS OUT. 11:04:10 RIGHT NOW, THAT'S ALL THEY'RE GETTING OUT OF MARCELLUS FOR ALL 11:04:14 THAT EXPENDITURE AND THEY WANT TO SPEND THE MONEY, AND YET, THE 11:04:19 PROPOSED BUDGET IS CUTTING THE AMOUNT OF MONEY THAT WE HAVE FOR 11:04:23 RESEARCH. CAN YOU SHARE WHAT THAT 11:04:25 UNDERLYING CURRENT -- WHY ARE WE CUTTING MONEY IN ENERGY RESEARCH 11:04:31 AT YOUR OWN FACILFACILITIES? I'LL GET BACK TO YOU ON THAT. 11:04:36 I CERTAINLY KNOW THE LABS, WE HAVE NOW AN EXCELLENT LABORATORY 11:04:41 DIRECTOR THAT I'M VERY POSITIVE ABOUT. 11:04:47 I KNOW WHAT THEY'RE DOING WITH THE UNIVERSITY. 11:04:49 I'M VERY POSITIVE ABOUT. I'LL GET BACK TO YOU ON THE 11:04:53 DETAILS ABOUT BECAUSE THERE MAY BE A MISUNDERSTANDING ON 11:04:57 CERTAINLY THE RESEARCH THAT NATO DOES IN UNIVERSITIES, WE ARE 11:05:03 VERY POSITIVE ON THAT. THANK YOU VERY MUCH. 11:05:12 THANK YOU. THIS TIME, RECOGNIZE THE 11:05:16 GENTLEMAN -- GENTLE LADY FROM CALIFORNIA. 11:05:19 THANK YOU, MR. CHAIRMAN AND SECRETARY FOR BEING HERE WITH US 11:05:25 TODAY. I APPLAUD YOUR LEADERSHIP ON 11:05:27 SUPPORTING INVESTMENTS AND TECHNOLOGY. 11:05:29 THESE INVESTMENTS ARE CRITICAL FOR THE ECONOMIC GROWTH OF MY 11:05:37 HOME DISTRICT IN SACRAMENTO. THE DEVELOPING NUCLEAR SITUATION 11:05:38 IN JAPAN HAS CAPTURED THE ATTENTION OF THE WORLD AND 11:05:41 CERTAINLY THIS COMMITTEE AND MY THOUGHTS AN PRAYERS WITH 11:05:44 CERTAINLY WITH THE PEOPLE OF JAPAN. 11:05:54 WHEN CHAIRMAN WHITFIELD ASKED YOU ABOUT THE CRISIS IN JAPAN, 11:05:58 HE MENTIONED NUCLEAR ACCIDENTS AND EXPLAIN THAT HAD THE 11:06:01 SITUATION IN JAPAN IS WORSE ALREADY LIKELY THAN THAT OF 11:06:05 THREE MILE ISLAND. MY UNDERSTANDING IS THAT THE BIG 11:06:10 DIFFERENCE BETWEEN THREE MILE ISLAND AND CHERNOBYL IS THAT IN 11:06:14 THREE MILE ISLAND, THE REACTOR'S CONTAINMENT SYSTEM WAS ABLE TO 11:06:18 RETAIN THE RADIO ACTIVE MATERIAL, SO MOST OF IT DIDN'T 11:06:23 SPREAD INTO THE ENVIRONMENT. IN CHERNOBYL, THERE WAS NO 11:06:26 CONTAIN M, SO THE RELEASE OF THE MATERIAL DEVASTATED THE SOVIET 11:06:30 UNION AND OTHER COUNTRIES. MR. SECRETARY, WHAT HAPPENS IF 11:06:34 THERE IS A MELTDOWN IN ONE OR MORE OF THE JAPANESE REACTORS 11:06:38 AND THE CONTAINMENT SYSTEM FAILS? 11:06:42 WELL, WE THINK THERE IS A PARTIAL MELTDOWN, BUT THAT AND 11:06:46 AS YOU CORRECTLY NOTED, THAT DOESN'T NECESSARILY MEAN THE 11:06:51 CONTAINMENT VESSEL WILL FAIL. THREE MILE ISLAND HAD A PARTIAL 11:06:56 MELTDOWN AND IT DID NOT FAIL. WE ARE TRYING TO MONITOR VERY 11:07:01 CLOSELY. WE HEAR CONFLICTING REPORTS 11:07:04 ABOUT EXACTLY WHAT IS HAPPENING. THERE SEVERAL REACTORS NOW AT 11:07:08 RISK. I WOULD NOT WANT TO SPECULATE ON 11:07:11 EXACTLY WHAT WILL HAPPEN AND SO, LET'S JUST SAY THAT WE MONITOR 11:07:14 IT VERY CLOSELY. AND WE'LL TAKE IT AS IT COMES. 11:07:23 WE DON'T WANT TO GO THERE AT ALL. 11:07:25 WE DON'T WANT THIS TO BECOME CHERNOBYL. 11:07:28 BUT I WOULD THINK THAT IN THE LIGHT OF THESE EVENTS, THE 11:07:31 COMMITTEE SHOULD INVESTIGATE THE SAFETY AND PREPAREDNESS OF OUR 11:07:36 OWN REACTORS. BECAUSE WE HAVE AN OBLIGATION TO 11:07:39 MAKE SURE THAT OUR OWN REACTORS ARE SAFE. 11:07:43 MR. CHAIRMAN, MY HOME DISTRICT OF SACRAMENTO, WE HAVE A 11:07:50 DECOMMISSIONED NUCLEAR POWER PLANT WHICH MANAGES THE USED 11:07:53 NUCLEAR FUEL AND THERE ARE ABOUT TEN SITES AROUND THE COUNTRY 11:07:56 INCLUDING SACRAMENTO WHERE USED NUCLEAR FUEL IS BEING STORED BUT 11:08:03 WHERE THE NUCLEAR POWER PLANT HAS BEEN DISMANTLED. 11:08:06 I'M INTERESTED IN KNOWING WHAT IS BEING DONE AT D.O.E. TO 11:08:12 REMOVE THE USED FUEL TO BE PLACED BACK INTO PRODUCTIVE USE. 11:08:17 HOW DOES YOUR REQUESTED BUDGET ADDRESS THESE ISSUES? 11:08:20 I WOULD HAVE TO GET BACK TO YOU ON THE DETAILS OF THE SITES 11:08:23 YOU'RE SPEAKING ABOUT, BUT THERE ARE VARIOUS STAGES. 11:08:25 AFTER YOU TAKE THE FUEL RODS OUT OF THE REACTOR, IMMEDIATELY, YOU 11:08:30 PUT THEM IN A POOL OF WATER FOR A PERIOD OF TIME AND WHERE 11:08:35 THEY'RE ACTUALLY STILL DISSIPATING A CONSIDERABLE 11:08:38 AMOUNT OF HEAT. BUT THEN AFTER THAT, THE NEXT 11:08:41 STAGE IS THAT YOU CAN PUT THEM IN DRY CAST STORAGE, WHICH IS 11:08:47 MUCH SAFER AND IT'S CHAIRMAN JACZKO WILL BE FOLLOWS ME, BUT 11:08:52 THE NRC HAS RECENTLY RULED THAT STORAGE ON SITE OF DRY CAST 11:09:00 STORAGE WOULD BE A SAFE INTERIM ON THE SCALE OF 50 OR 60 YEARS 11:09:08 AND THAT GIVES US TIME TO DEVELOP A STRATEGY ON SPENT 11:09:13 FUEL. MAYBE NOT 50 OR 60 YEARS, BUT 11:09:17 MAYBE 40. WE HOPE TO DEVELOP A PLAN FOR 11:09:22 SOONER THAN THAT. MR. SECRETARY, WE'RE 11:09:26 FORTUNATE WE HAVE ACCESS TO CLEAN HYDRO POWER AS PART OF OUR 11:09:31 RENEWABLE ENERGY PORTFOLIO. I BELIEVE TO ACHIEVE THE PRESENT 11:09:35 GOAL OF ESTABLISHING CLEAN ENERGY FUTURE HYDRO POWER NEEDS 11:09:39 TO BE PART OF THE DISCUSSION. I'D LIKE TO KNOW WHAT D.O.E. IS 11:09:43 DOING TO ADVANCE THE ADOPTION OF NEW SYSTEMS TO GENERATE CLEAN 11:09:47 ENERGY IN THE COUNTY TR. SEVERAL THINGS WE CAN DO. 11:09:50 WE DON'T ANTICIPATE BUILDING NEW LARGE DAMS, BUT WE CAN REPLACE 11:09:56 THE OLD TURBINES WITH MORE EFFICIENT TURBINES THAT ARE 11:10:00 FRIENDLIER TO FISH AND MORE EFFICIENT. 11:10:05 WE SHOULD LOOK AT WHAT ARE CALLED RUN OF THE RIVER HYDRO 11:10:08 DAMS. SO AGAIN, IT HAS FAR LESS 11:10:11 ENVIRONMENTAL IMPACTS THAN A CONVENTIONAL DAM AND WE SHOULD 11:10:15 ALSO LOOK AT STORAGE OF WATER, SITE WHERE IS WE STORE WATER FOR 11:10:19 FLIGHT CONTROL, BUT THEN RELEASE THE WATER TO PUT TURBINES IN 11:10:23 THOSE SITES AGAIN WOULD HAVE VIRTUALLY NO ENVIRONMENTAL 11:10:27 IMPACT, BUT YOU CAN CAPTURE THE ELECTRICITY. 11:10:30 THESE ARE THINGS WE ARE LOOKING AT. 11:10:34 MY NAME HAS RUN OUT. THANK YOU. 11:10:35 AT THIS TIME, RECOGNIZE THE GENTLEMAN FROM COLORADO FOR FIVE 11:10:40 MINUTES. MR. GARDENER. 11:10:43 THANK YOU FOR YOUR ATTENDANCE TODAY. 11:10:46 A COUPLE OF QUESTIONS FOR YOU. FOLLOWING UP SOMEWHAT ON OTHER 11:10:54 M MEMBERS' QUESTION, BUT SOME 11:10:55 QUESTIONS CONCERNS YUCCA MOUNTAIN AND WHAT'S HAPPENING IN 11:10:58 JAPAN. RIGHT NOW, WHAT IS YOUR LEVEL OF 11:11:02 COMMUNICATION WITH ADMINISTRATION IN JAPAN 11:11:07 REGARDING THE EVENTS? I SPOKE TO THE MINISTER 11:11:11 YESTERDAY MORNING. AND OFFERED HIM SOME OF OUR 11:11:14 SERVICES, OUR EQUIPMENT, THINGS LIKE THAT, WHICH HE ACCEPTED AND 11:11:20 EXPRESSED GRATITUDE FOR THAT. WE ARE CERTAINLY MORE THAN I 11:11:24 DON'T KNOW WHETHER HOURLY CERTAIN CONSTANT CONTACT WITH 11:11:29 PEOPLE IN JAPAN OF OUR PEOPLE. THERE ARE COMMUNICATIONS WITH 11:11:36 AMBASSADOR RUS, SEVERAL DAILY AND SO WE'RE MOSTLY GOING 11:11:43 THROUGH CHALLENGES. THERE ARE MANY, MANY AND THEN 11:11:49 OTHER INFORMAL CHALLENGES. WE'RE CONTINUING TO OFFER STANCE 11:11:53 TO JAPAN IN ANY WAY WE CAN AS WELL AS INFORMING OURSELVES OF 11:11:57 THE SITUATION. AT THIS POINT, YOU ARE 11:11:59 SATISFIED WITH THE RESPONSE TO THE SITUATION? 11:12:02 WELL, I CAN'T REALLY SAY. I THINK WE HEAR CONFLICTING 11:12:06 REPORTS, BUT I'LL GO BACK THE SAY THAT JAPAN IS A VERY 11:12:09 ADVANCED COUNTRY. THEY TAKE THESE THINGS VERY 11:12:15 SERIOUSLY AND SO I DON'T WANT TO SAY ANYTHING MORE THAN WE WILL 11:12:23 STAND BY THEM AND HELP AS BEST WE CAN. 11:12:24 THANK YOU. MR. SECRETARY, DO YOU BELIEVE, 11:12:25 I'VE SEEN WHAT APPEAR TO BE CONFLICTING STATEMENTS REGARDING 11:12:33 THE PETROLEUM RESERVE. DO YOU OR NOT SUPPORT ACCESS OF 11:12:37 THE STRATEGIC PETROLEUM RESERVE? IF BY ACCESS, YOU MEAN THAT 11:12:41 REGARDING THE STRATEGIC PETROLEUM RESERVE AS ONE OF 11:12:44 SEVERAL OPTIONS THAT WE CAN HOLD IN OUR ARSENAL. 11:12:52 IT IS DESIGNED FOR SEVERE DISRUPTIONS IN SUPPLY. 11:12:57 THE PRESIDENT HAS MADE CLEAR THAT HAS AN OPTION HE CAN 11:13:01 CONSIDER AND THERE ARE OTHER THINGS THAT ARE HAPPENING RIGHT 11:13:03 NOW, I THINK THE OTHER OIL PRODUCING COMPANIES IN THE WORLD 11:13:06 ARE STEPPING UP THEIR PRODUCTION. 11:13:08 WHAT ABOUT PRODUCTION HERE? HAVE YOU TALKED TO SECRETARY 11:13:12 SALAZAR OR PERHAPS THE DEPARTMENT OF AGRICULTURE ABOUT 11:13:14 STEPPING UP PRODUCTION WITHIN OUR OWN RESOURCES? 11:13:18 I THINK THAT'S RIGHT. SECRETARY SALAZAR AS I 11:13:21 UNDERSTAND IT, IS NOW TWO DEEP WATER LEASES HAVE BE RECENTLY 11:13:30 ISSUED. THERE HAVE BEEN A NUMBER OF 11:13:32 SHALLOW WATER LEASES THAT HAVE BEEN ISSUED. 11:13:34 THERE IS AN INCREASE IN PRODUCTION IN THE CONTINENTAL 11:13:38 UNITED STATES BECAUSE OF THE SHALE GAS ACTUALLY HAS SHALE OIL 11:13:41 IN IT AS WELL. PEOPLE ARE BEGINNING TO WE SEE 11:13:45 AN INCREASE IN RECOVERY OF THAT AND THAT'S GOING TO BE A 11:13:49 SIGNIFICANT ASSET GOING FORWARD. ARE YOU ENCOURAGING DOMESTIC 11:13:53 PRODUCTION TO HELP LOWER THE PRICE OF GASOLINE? 11:13:58 I THINK DOMESTIC PRODUCTION SHOULD BE PART OF A COHERENT 11:14:01 PLAN GOING FORWARD AND WHAT WE NEED TO DO WITH OUR 11:14:04 TRANSPORTATION FUEL. WHAT IS THE PRESIDENT'S PLAN 11:14:07 TO LOWER GAS PRICES BY THIS SUMMER? 11:14:11 WELL, IT'S -- FIRST, IT'S -- WE -- DOMESTIC PRODUCTION ITSELF 11:14:17 DOESN'T TURN ON INSTANTLY EVEN IF YOU HAVE A KNOWN RESERVE 11:14:22 PRODUCING MORE PRODUCTION FROM THAT KNOWN RESERVE WILL ACTUALLY 11:14:25 TAKE MONTHS TO YEARS DEVELOPING NEW RESERVES WOULD TAKE LONGER. 11:14:29 BUT THE FACT THAT'S COMING ONLINE SHOULD BE REFLECTED IN 11:14:32 PRICE? THAT IS TRUE. 11:14:34 SO, THE IMMEDIATE THING IS THAT IF YOU KNOW THAT THERE ARE 11:14:38 RESERVES COMING ONLINE, JUST AS OIL PRODUCING EXPORTING 11:14:43 COUNTRIES, YOU KNOW THEY'RE INCREASING PRODUCTION, SO THAT 11:14:45 SHOULD HAVE A CALMING INFLUENCE ON PRICE. 11:14:48 BUT IN THE LONG RUN, I THINK WE SHOULD ALSO SAY THAT IF YOU LOOK 11:14:51 AT THE DEMAND BY LONG RUN I MEAN TEN PLUS YEARS -- 11:14:55 SO THE ADMINISTRATION'S PLAN TO LOWER GAS PRICES BY THE 11:14:58 SUMMER IS 10 TO 12 YEARS? NO, WE ARE WORKING TOWARDS 11:15:03 DOING WHAT WE CAN IN THE SHORT-TERM, BUT I'M ALSO SAYING 11:15:06 THAT THIS PROBLEM CAN EMERGE EASILY AGAIN BECAUSE OF THE LAWS 11:15:10 OF SUPPLY AND DEMAND. WHAT IS THE ADMINISTRATION'S 11:15:14 PLAN THOUGH BY THE SUMMER TO LOWER TO PRICE OF GAS? 11:15:17 WELL, IT'S -- WE'RE GOING TO BE SEEING IF PRODUCTION CAN BE 11:15:23 INCREASED. WE'RE INCONVERSATIONS WITH OTHER 11:15:25 COUNTRIES AROUND THE WORLD ON HOW WE CAN INCREASE PRODUCTION 11:15:32 AND STRATEGIC PETROLEUM RESERVE OPTION IS ON THE TABLE. 11:15:34 BUT YOU ARE TALKING TO THE SECRETARY OF AGRICULTURE TO 11:15:42 CREASE PRODUCTION HERE? I TALK TO THE SECRETARY 11:15:45 SEVERAL TIMES A WEEK, BUT I THINK THE LICENSING AND THINGS 11:15:50 OF THAT NATURE IN SECRETARY SALAZAR AND IT'S IN GOOD HANDS. 11:15:55 I HAVE ADDITIONAL QUESTIONS I'D LIKE TO SUBMIT. 11:15:59 THANK YOU. AT THIS TIME, THE CHAIR 11:16:02 RECOGNIZES THE GENTLEMEN FROM MICHIGAN FOR FIVE MINUTES. 11:16:05 CURTIS, I THANK YOU FOR HOLDING THE HEARING AND FOR YOUR 11:16:09 COURTESY IN RECOGNIZING ME. MR. SECRETARY, WELCOME TO THE 11:16:11 COMMITTEE. THE PRESIDENT IN HIS STATE OF 11:16:16 THE UNION SAYS IF THE UNITED STATES IS TO COMPETE, WE INTEND 11:16:20 TO OUTINNOVATE, OUTEDUCATE AND OUTBUILD THE REST OF THE WORLD. 11:16:24 A BIG PART OF THAT FROM MY PERSPECTIVE IS SECTION 136 11:16:30 PROGRAM OR THE ADVANCED TECHNOLOGY VEHICLES 11:16:34 MANUFACTURING PROGRAM. I'VE HEARD FROM NUMEROUS 11:16:38 ENTITIES THAT HAVE APPLIED FOR FUNDING UNDER SECTION 136 AND 11:16:45 FIND IN THE DEVELOPMENT OF THAT, NONE HAVE BEEN ABLE TO TELL ME 11:16:48 IT HAS BEEN AN ENTIRELY POSITIVE EXPERIENCE ALTHOUGH I BELIEVE 11:16:51 YOU AND THE DEPARTMENT HAVE TRIED TO BE AS HELPFUL AS YOU 11:16:56 CAN. IT IS COMPLICATED AND A NEW LAW, 11:17:00 WHICH IS SOMEWHAT MADE DIFFICULT BY THE FACT THAT YOU HAVE TO 11:17:05 FUNCTION UNDER VERY, VERY LIMITED TIME FRAMES. 11:17:08 IN FACT, I HEAR A COMPLAINT THAT THE GOAL POSTS ARE CONSTANTLY 11:17:14 MOVING. THIS IS PERHAPS THE MOST SERIOUS 11:17:18 AND IT IS PERHAPS THE ONE THAT I HEAR MOST. 11:17:23 COMPANIES FEEL THAT ANYBODY THAT ENTERS INTO NEGOTIATIONS WITH 11:17:29 THE BEST OF INTENTIONS BUT HAVE NO ASSURANCES THEY'LL EVER GET 11:17:33 TO THE END OF THE ROAD. FOR THE RECORD, PLEASE, WOULD 11:17:39 YOU PROVIDE A DETAILED SUMMARY OF HOW 136 WORKS? 11:17:45 I NOTE THAT YOUR BUDGET REQUESTS FOR THIS YEAR IS 40% LESS THAN 11:17:49 REQUESTED IN 2011 AND THAT THE 2011 REQUESTS IS 50% LESS THAN 11:17:56 THE 2010 ENACTED LEVELS. I UNDERSTAND OUR BUDGET 11:18:00 SITUATION IS SERIOUS. BUT THIS SEEMS TO BE 11:18:03 INCONSISTENT WITH THE PRESIDENT'S OUTINNOVATE, 11:18:07 OUTEDUCATE AND OUTBUILD MESSAGE. HAS THE NEED FOR FUNDING TO 11:18:12 REEQUIP, EXPAND AND BUILD MORE FACILITIES TO CREATE THE 11:18:17 VEHICLES OF THE FUTURE GONE DOWN SINCE 2010? 11:18:19 YES OR NO? NO, WE CERTAINLY NEED TO 11:18:24 EXPAND AND BUILD FACILITIES. WERE YOU COMPARING THE RECOVERY 11:18:30 BUDGET OR OUR BASE BUDGET? WELL, MY CONCERN HERE IS THE 11:18:36 SECTION 136 PROCESS AND HOW IT'S WORKING. 11:18:39 AND WHAT I'M TRYING TO FIND OUT IS HAS THE NEED FOR THAT SECTION 11:18:44 TO BE USED FOR FUNDING TO REEQUIP, EXPAND AND BUILD MORE 11:18:49 FACILITIES TO CREATE THE VEHICLES OF THE FUTURE GONE DOWN 11:18:52 SINCE 2010? SO AS TO JUSTIFY THE REDUCTION 11:18:57 IN THE LEVEL OF FUNDING REQUESTED BY THE ADMINISTRATION. 11:18:59 YES OR NO? I THINK YOUR -- IT'S GONE 11:19:03 DOWN IN YOU'RE INCLUDING RECOVERY ACT FUNDING. 11:19:06 SAY AGAIN. IF YOU'RE REFERRING TO THE 11:19:10 ATVM LOANS AND INCLUDING THE RECOVERY ACT FUNDING FOR 2010, 11:19:15 THAT'S IF YOU DO -- IF YOU INCLUDE THAT, OUR FUNDING 11:19:18 REQUEST HAS GONE DOWN. WELL, I THINK IT WOULD BE 11:19:21 HELPFUL TO BOTH OF US IF YOU WERE TO SUBMIT THE ANSWERS TO 11:19:25 THE RECORD, BUT I AM -- WHAT I AM CONCERNED IS THAT WE UP THERE 11:19:31 FIND THAT THERE'S STILL A SUBSTANTIAL DEED AND YET WE ARE 11:19:36 FINDING THAT THE REQUESTS FOR FUNDING ARE GOING DOWN. 11:19:40 AND WHAT I'M SLIS ITTING IS YOUR COMMENTS ON THIS MATTER. 11:19:49 LAST QUESTION, MR. SECRETARY, COULD YOU FOR THE RECORD, SUBMIT 11:19:50 A COMPREHENSIVE LIST OF APPLICANTS FOR ASSISTANCE UNDER 11:19:58 SECTION 136 AND GIVE US EACH WITH REGARD TO EACH AN 11:20:03 INDICATION OF WHERE THEY ARE IN THE PROCESS? 11:20:08 I THINK THE APPLICANT, I DON'T THINK WE'RE REALLY WOULD 11:20:13 BE FILING SOME CONFIDENTIALITY IN THE APPLICANTS OF WHO HAS 11:20:22 A APPLIED, SO THAT WOULD BE 11:20:23 DIFFICULT. WELL, MR. SECRETARY, I AM NOT 11:20:26 TRYING TO LAY ANY TRAPS FOR YOU AND I RECOGNIZE THIS IS 11:20:30 DIFFICULT, WHICH IS WHY I ASK THAT YOU SUBMIT THIS FOR THE 11:20:32 RECORD. AND MY STAFF WILL BE HAPPY TO 11:20:36 WORK WITH YOUR STAFF TO SEE TO IT THAT WE ARE ABLE TO WORK 11:20:40 TOGETHER TO GET THE PROPER ANSWERS. 11:20:44 WE CAN SUPPLY INFORMATION IN THE AGGREGATE AND ENEM ANITY OF 11:20:50 THAT NATION. AND I HOPE YOU UNDERSTAND, 11:20:54 MR. SECRETARY, THESE ARE FRIENDLY QUESTIONS. 11:20:58 THANK YOU FOR YOUR COURTESY. THANK YOU. 11:21:01 I RECOGNIZE THE GENTLEMAN FROM PENNSYLVANIA, MR. PITTS. 11:21:05 THANK YOU FOR YOUR TESTIMONY TODAY. 11:21:06 IN LIGHT OF YOUR OPENING STATEMENT, I BELIEVE IF I CAN 11:21:12 PARAPHRASE IT, YOU SAID NUCLEAR POWER SHOULD CONTINUE TO BE A 11:21:16 KEY PART OF OUR NATIONAL ENERGY POLICY. 11:21:18 IS THAT CORRECT? THAT'S CORRECT. 11:21:24 WE WOULD LIKE TO BE PART OF OUR ENERGY IN THIS CENTURY, YES. 11:21:26 IN LIGHT OF THIS, THE ADMINISTRATION HAS ELIMINATED 11:21:30 THE OFFICE OF WASTE MANAGEMENT. AN OFFICE WITHIN D.O.E. 11:21:36 EXPRESLEY CREATED BY STATUTE. ALSO SHUT DOWN THE YUCCA 11:21:41 MOUNTAIN PROGRAM. THERE ARE CURRENTLY CONCERNS 11:21:44 ABOUT THE STATUS OF SPENT NUCLEAR FUEL RODS THAT HAVE BEEN 11:21:47 IN WET STORAGE AT THE JAPANESE NUCLEAR PLANT AFFECTED BY THE 11:21:53 RECENT EARTHQUAKE. IN LIGHT OF THE EVENTS IN JAPAN, 11:21:57 DOES THE DECISION TO ELIMINATE THE OFFICE OF CIVILIAN RADIO 11:22:02 ACTIVE WASTE AND SHUT DOWN OF YUCCA MOUNTAIN PROGRAM DESERVE 11:22:08 RECONSIDERATION FROM THE PRESIDENT? 11:22:13 AGAIN, WE SHOULDN'T -- WITH WHAT IS HAPPENING IN JAPAN THE 11:22:23 NEED FOR A LONG TIME REPOSITORY. THAT'S A VERY SHORT-TERM THING 11:22:29 AND THEN YOU CONVERT AFTERWARD AFTER SEVERAL YEARS TO DRY CAST 11:22:33 STORAGE AND THEN FINALLY, YOU LOOK FOR DISPOSITION, BUT 11:22:39 TECHNOLOGY IS CHANGING AND THERE IS AGAIN, I DON'T WANT TO 11:22:44 PREEMPT WHAT THE BLUE RIBBON COMMISSION WILL SAY, BUT THERE 11:22:50 COULD BE OTHER OPPORTUNITIES TO PERHAPS CAPTURE MORE OF THE 11:22:54 ENERGY CONTENT OF THAT HUGE SHIELD. 11:22:58 SO HOW DOES THE ADMINISTRATION FULFILL ITS 11:23:02 OBLIGATIONS UNDER THE NUCLEAR WASTE POLICY ACT TO MANAGE AND 11:23:08 DISPOSE OF THE NATION'S SPENT FUEL INVENTORIES. 11:23:11 PARDON? HOW DO YOU MANAGE AND 11:23:18 PERMANENTLY DISPOSE OF THE NATION'S SPENT FUEL INVENTORIES 11:23:20 TODAY? WELL, WE -- THE DEPARTMENT OF 11:23:25 ENERGY IS RESPONSIBLE FOR DEALING THE W THE SPENT FUEL AND 11:23:30 WE'RE ASKING THE BLUE RIBBON COMMISSION TO GIVE US ADVICE ON, 11:23:34 WHICH THEY WILL DO IN JUNE, ON HOW TO PROCEED FORWARD SO THAT 11:23:39 WE CAN TAKE THIS SPENT FUEL AS I SAID, I DON'T WANT TO PREEMPT 11:23:44 WHAT THEY'RE SAYING, SO I DON'T REALLY KNOW WHAT -- ONCE IT'S 11:23:51 CYCLED ONCE. IN LIGHT OF THE EVENTS IN 11:23:54 JAPAN, CAN YOU MAKE ANY CONCLUSIONS AT THIS POINT ABOUT 11:23:57 THE SAFETY OF NUCLEAR POWER IN THE UNITED STATES AS A RESULT OF 11:24:04 WHAT YOU KNOW ABOUT THE INCIDENT? 11:24:08 NO, AS I SAID BEFORE, WHAT WE WANT TO DO IS LOOK AT WHAT 11:24:11 HAPPENED IN JAPAN AND SAY IF THERE ARE THESE MULTIPLE EVENTS 11:24:16 AS WHAT'S HAPPENED IN JAPAN, A TERRIBLE EARTHQUAKE AND TSUNAMI, 11:24:22 OR THAT WE WOULD BE MORE VULNERABLE TO A CASCADE OF 11:24:25 MULTIPLE EVENTS AN HOW THEY MIGHT COMPROMISE SAFETY, SO WE 11:24:29 FIRST INTEND TO LOOK FULLY AT WHETHER WE HAVE CONSIDERABLE 11:24:33 POSSIBILITIES AND GET WHATEVER LESSONS WE CAN LEARN FROM. 11:24:36 WHAT IS D.O.E. DOING IN TERMS OF MONITORING ANY POTENTIAL 11:24:40 RADIATION EMITTED FROM THE JAPANESE FACILITY? 11:24:44 WILL YOU COLLECT EXPOSURE AND HELP AFFECT DATA? 11:24:50 WHAT WE HAVE DONE IS WE'VE AIR LIFTED AIRBORNE EQUIPMENT 11:24:55 THAT CAN HELP MONITOR, MADE THAT AVAILABLE TO THE JAPANESE. 11:24:59 WE ALSO HAVE GROUND EQUIPMENT SO IT CAN PICK UP EXPOSURE LEVELS 11:25:03 AND THE TYPE OF RADIATION OF PEOPLE ON THE GROUND. 11:25:10 WE'VE ALSO -- IN THE PROCESS, SO IT'S IN JAPAN NOW AND WE'RE 11:25:13 LOOKING TO DEPLOY THAT IN VARIOUS AREAS SO WE CAN HAVE A 11:25:18 FIRSTHAND UNDERSTANDING OF WHAT THE EXPOSURE LEVELS ARE AND HOW 11:25:23 THEY MIGHT CHANGE. IN YOUR TESTIMONY, YOU SAY WE 11:25:26 ARE CUTTING BACK IN MULTIPLE AREAS, INCLUDING ELIMINAING 11:25:31 UNNECESSARY FOSSIL FUEL SUBSIDIES AND REDUING FUNDING 11:25:39 FOR THE HYDROGEN TECHNOLOGY PROGRAM. 11:25:41 WILL THIS INCREASE OR DECREASE GAS PRICES IN YOUR OPINION? 11:25:49 I THINK THE FOSSIL FUEL PROGRAM -- BECAUSE OF THE 11:25:51 RECOVERY ACT, THERE WAS A TREMENDOUS AMOUNT OF INVESTMENTS 11:25:57 IN CLEAN COAL TECHNOLOGIES, CARBON CAPTURE TECHNOLOGIES. 11:26:02 AND SO BECAUSE OF THAT, WE FELT THAT GIVEN THAT ESSENTIALLY $4 11:26:07 BILLION OF INVESTMENTS, THAT WE CAN GIVEN THE ISSUES ABOUT 11:26:13 FISCAL RESPONSIBILITY, WE THOUGHT THAT VERY LARGE 11:26:18 INVESTMENT CAN CARRY US FORWARD FOR A NUMBER OF YEARS, SO THAT'S 11:26:22 WHERE MOST OF THE INVESTMENTS IN OUR FOSSIL ENERGY WERE GOING 11:26:28 INTO. INTO CLEAN COAL TECHNOLOGIES. 11:26:30 WE WILL STILL CONTINUE TO MAKE THOSE INVESTMENTS BECAUSE WE 11:26:33 BELIEVE THAT IS A PROPER GOVERNMENT ROLE TO DEVELOP CLEAN 11:26:36 COAL TECHNOLOGIES. BUT THAT IS DIFFERENT THAN 11:26:39 TRANSPORTATION FUEL. THANK YOU, MR. CHAIRMAN. 11:26:45 THIS TIME, CHAIR RECOGNIZES GENTLEMAN FROM MASSACHUSETTS. 11:26:49 DR. CHU, YOU WEAR MANY HATS AS THE SECRETARY OF ENERGY. 11:26:54 ONE OF THEM IS BANKER IN CHIEF TO THE NUCLEAR INDUSTRY. 11:26:58 A SOCIALIST SYSTEM THAT ALLOWS FOR THE U.S. GOVERNMENT TO 11:27:04 PROVIDE TAXPAYER-BACKED LOAN GUARANTEES FOR NUCLEAR POWER 11:27:08 PLANT CONSTRUCTION IN OUR COUNTRY. 11:27:11 I WANT TO KNOW FROM A PURELY FINANCIAL RISK PERSPECTIVE, DO 11:27:15 YOU THINK THAT THE EVENTS IN JAPAN WILL PROBABLY MAKE IT LESS 11:27:19 LIKELY FOR WALL STREET INVESTORS OR UTILITY EXECUTIVES TO WANT TO 11:27:24 ASSUME THE FINANCIAL RISKS ASSOCIATED WITH ORDERING A NEW 11:27:26 NUCLEAR POWER PLANT? I CAN'T REALLY PREDICT WHAT 11:27:31 WALL STREET WILL DO, BUT CERTAINLY, THE EVENTS IN JAPAN 11:27:36 WILL -- ARE GOING TO CAUSE EVERYBODY TO LOOK BACK AND LOOK 11:27:39 BACK TO THEIR EXISTING PLANTS AND THEIR FUTURE PLANS. 11:27:46 AND I THINK THAT'S A GOOD THING IN THE SENSE THAT YOU TAKE THIS 11:27:51 OPPORTUNITY TO LOOK BACK AND SEE WHAT YOU'RE DOING AND ARE YOU 11:27:55 DOING EVERYTHING POSSIBLE TO MAXIMIZE THE SAFETY. 11:27:57 SO ALONG THOSE LINES, ARE YOU GOING TO REASSESS AS THE BANKER 11:28:03 IN CHIEF, THE RISK PREMIUM THAT YOU CHARGE NUCLEAR UTILITIES FOR 11:28:06 THE LOAN GUARANTEES YOUR GIVING THEM IN LIGHT OF THE EVENTS IN 11:28:12 JAPAN? THAT IS, THE RISK PREMIUM IS 11:28:18 ULTIMATELY A CREDIT SUBSIDY ISSUE. 11:28:21 ARE YOU GOING TO RE-EXAMINE IT IN LIGHT OF WHAT HAPPENED IN 11:28:25 JAPAN? I THINK ALL FACTORS GET 11:28:27 FOLDED INTO A LOAN. SO, YOU ARE? 11:28:31 PART OF THE GOVERNMENT RESPONSIBLE FOR THE 11:28:33 DETERMINATION OF THAT CREDIT. SHOULD O.B.M. RE-EXAMINE THE 11:28:40 RISK PREMIUM? I THINK THEY WILL INCLUDE 11:28:43 ANYTHING LIKE WHAT HAS HAPPENED IN JAPAN. 11:28:45 SO THEY SHOULD GO BACK AGAIN. I THANK YOU. 11:28:47 THE DEPARTMENT HAS AWARDED AN $8.3 BILLION LOAN GUARANTEE TO 11:28:52 THE SOUTHERN COMPANY CONDITIONAL UPON THE CERTIICATION OF THE 11:28:59 NEW DESIGN REACTOR BY THE NUCLEAR REGULATORY COMMISSION. 11:29:02 THREE DAYS BEFORE THE JAPANESE EARTHQUAKE, I SENT A LETTER TO 11:29:05 THE NRC BECAUSE I LEARNED THAT ONE OF ITS MOST SENIOR 11:29:11 SCIENTISTS HAS SAID THAT THE DINE OF THAT PLANT MAY BE TOO 11:29:15 BRITTLE TO WITH STAND A STRONG EARTHQUAKE AND THAT IT WILL 11:29:18 QUOTE, SHATTER LIKE A GLASS CUP, UNDER STRONG IMPACT. 11:29:23 HE SAID THAT WESTING HOUSE MODELLED THE RESILIENCY USING AN 11:29:28 UNREALISTIC EARTHQUAKE SIMULATION. 11:29:30 DON'T YOU THINK IT'S TOO RISKY TO ISSUE CONDITIONAL LOAN 11:29:34 GUARANTEES FOR REACTORS LIKE THE AP1000 THAT HAVE NOT BEEN FULLY 11:29:40 APPROVED BY THE NRC IN FINAL FORM AFTER PUBLIC NOTICE AND 11:29:49 COMMENT, PARTICULARLY WHEN ONE OF THE NRC'S TOP TECHNICAL 11:29:55 PEOPLE HAS RAISED SIGNIFICANT CONCERNS? 11:29:56 THE NRC HAS TO GRANT APPROVAL AND LICENSE AND THAT IS STILL 11:30:00 PENDING BEFORE THE NRC. SO THE SOUTHERN COMPANY AND ITS 11:30:05 COLLABORATORS DO NOT GET FEDERAL MONEY UNTIL THE CONSTRUCTION 11:30:14 IS -- DON'T YOU THINK WE SHOULD 11:30:15 HOLD OFF ON NEW REACTOR DESIGNS OR NEW LOAN GUARANTEES UNTIL WE 11:30:21 ARE SURE THESE NEW REACTORS ARE SAFE AND WE HAVE LEARNED THE 11:30:25 LESSONS OF FUKUSHIMA? I THINK WE WILL NO MATTER 11:30:27 WHAT HAPPENS GOING FORWARD, TRY TO TAKE THE LESSONS OF FUKUSHIMA 11:30:31 AND APPLY THEM TO OUR EXISTING FLEET AND ANY FUTURE REACTORS WE 11:30:38 WILL BE BUILDING. NOW, IN THE CASE OF THE 11:30:42 CONDITIONAL LOAN GUARANTEE YOU GAVE THE SOUTHERN COMPANY FOR 11:30:45 THE TWO NEW REACTORS AT VOGEL, THE $8.3 BILLION TAXPAYER LOAN 11:30:51 GUARANTEE WILL THEN ALLOW THE SOUTHERN COMPANY TO GET AN $8.3 11:30:55 BILLION LOAN DIRECTLY FROM THE FEDERAL FINANCING BANK AT THE 11:31:00 DEPARTMENT OF TREASURY. SO, THE TAXPAYERS ARE FULLY ON 11:31:06 THE HOOK FOR 8.3 BILLION OUT OF THE $14 BILLION PROJECT. 11:31:08 IF THERE IS A DEFAULT ON THIS VOGEL PLANT AND THE FIRST TWO 11:31:11 UNITS THAT THEY HAVE ALREADY BUILT IN PAST YEARS THERE WERE 11:31:16 11 TIMES OVERBUDGET, SO IF THERE'S A DEFAULT ON THE VOGEL 11:31:20 LOAN, WHAT WOULD HAPPEN? OUR LOAN GUARANTEE PROGRAM OF 11:31:24 THE PEOPLE WHO WORK IN THAT PROGRAM WORK VERY, VERY HARD SO 11:31:28 THAT THEY MAKE SURE THAT IF THERE IS A DEFAULT THAT THE 11:31:33 GOVERNMENT TAXPAYERS ARE PROTECTED. 11:31:35 THAT THERE ARE ASSETS IN SOUTHERN COMPANY AND OTHERS -- 11:31:38 BUT IF YOU CAN'T GET PAID OFF, WHAT HAPPENS THEN? 11:31:42 IT'S A VERY COMPLEX AGREEMENT AND THERE ARE -- 11:31:46 WOULD WE OWN THE SOUTHERN COMPANY LIKE WE INVOLUNTARILY 11:31:50 WOUND UP OWNING GENERAL MOTORS? IF THEY CAN'T PAY? 11:31:54 THAT, I WOULD HAVE TO GET BACK TO YOU IN THE DETAILS ON 11:31:58 WHAT THE EXACT RECOVERY IS. I THINK THE AMERICAN TAXPAYER 11:32:01 REALLY HAS TO BE PROTECTED HERE GOING FORWARD. 11:32:04 GENTLEMAN'S TIME IS EXPIRED. SHOULD NOT BE LICENSING AP 1000. 11:32:10 THANK YOU, MR. CHAIRMAN. THANK YOU SECRETARY CHU, FOR 11:32:15 BEING HERE TODAY. YOU CAN SEE THE END IN SIGHT OF 11:32:18 THE QUESTIONING. I KNOW YOU'LL APPRECIATE YOUR 11:32:21 TIME BEING HERE. AND I WANTED TO TALK TO YOU 11:32:24 ABOUT SOMETHING THAT PRESIDENT OBAMA SAID IN A PRESS CONFERENCE 11:32:27 RECENTLY. THAT WE SHOULD INCREASE ENERGY 11:32:32 PRODUCTION IN THIS COUNTRY AND MENTIONED OIL SPECIFICALLY. 11:32:35 IT APPEARS HIS TWO PLUS YEARS IN OFFICE, I WOULD ARGUE THE 11:32:39 PRESIDENT HAS REALLY NOT DONE MUCH IN THAT WAY, NOT MUCH 11:32:42 TOWARDS INCREASING OUR PRODUCTION OF OIL. 11:32:45 WHEN THE PRESIDENT CAME INTO OFFICE, GAS AT THE PUMP WAS 11:32:48 UNDER $2 A GALLON. WE'RE APPROACHING $4 A GALLON IN 11:32:55 MANY REGIONS AND OF COURSE, WE'VE HAD THE DEEPWATER HORIZON 11:32:58 EXPLOSION ON APRIL 20th, APPROACHING THAT ONE-YEAR 11:33:01 ANNIVERSARY. THEN A MORITORIUM WAS PLACED ON 11:33:03 THE DEEP WATER OFFSHORE DRILLING IN THE GULF OF MEXICO FOLLOWING 11:33:11 THAT. THERE HAVE BEEN LIMITING OF 11:33:12 LEASES ON THE EAST COAST AND WE CONTINUE TO IGNORE OUR RESOURCES 11:33:17 IN ANWR. I WOULD ASK IF YOU'VE HAD 11:33:21 CONVERSATIONS WITH THE PRESIDENT ABOUT EXPANDING DOMESTIC OIL AND 11:33:24 IF SO, WHAT INPUT OR DIRECTION HAVE YOU RECEIVE FRD THE 11:33:30 PRESIDENT? THE PRESIDENT HAS ALREADY 11:33:34 SPOKEN ON THIS MATTER. HE MENTIONED IN A PRESS 11:33:37 CONFERENCE THAT IN 2010, THE PRODUCTION OF OIL WAS AS HIGH AS 11:33:42 IT'S BEEN SINCE 2003. PRIOR TO MACONDO ACCIDENT, WHAT 11:33:48 HAPPENED WAS MORE LAND WAS MADE OPEN TO HAVE ACCESS DRILLING. 11:33:55 THE OIL COMPANIES ARE SEEING A LOT OF LEASES SO FAR NOT FULLY 11:34:01 UTILIZED AND THE PRESIDENT HAS SAID THAT THEY WOULD ASK THAT IF 11:34:08 THOSE COMPANIES ARE JUST SITTING ON THOSE LEASES, THAT WE CAN 11:34:14 EXPLORE MECHANISMS TO EXPLORE THOSE. 11:34:17 SO THE PRESIDENT IS AS PART OF A STRATEGY GOING FORWARD, THAT'S 11:34:24 ONE OF THE THINGS TO DEAL WITH THAT WE ARE NOW FACING. 11:34:28 WHEN THE PRESIDENT SAYS OR THE WHITE HOUSE SAYS THAT PRUX 11:34:32 IS AS HIGH AS IT'S BEEN SINCE 2003, IS THAT HIGH ENOUGH AND 11:34:38 WHAT'S GOING ON AROUND THE WORLD? 11:34:40 FIRST WITH THE CONCERNS IN EGYPT, THEN LIBYA AND NOW, 11:34:42 WHAT'S HAPPENED IN JAPAN. ARE YOU CONVINCED THAT WE'RE 11:34:49 PURSUING THE RECOVERY OF OUR OWN NATURAL RESOURCES AS IT COMES TO 11:34:52 OIL IN THIS COUNTRY AND THE REGIONS THAT WE CAN GO INTO 11:34:59 OFFSHORE. DO YOU BELIEVE WE'RE DOING A 11:35:00 SUFFICIENT AMOUNT AT THIS LEVEL? I THINK WE'RE GOING TO HAVE 11:35:03 TO DO MANY THINGS. INCREASING OIL PRODUCTION IS 11:35:06 ONLY PART OF THE SOLUTION. AS THE PRESIDENT SAID. 11:35:10 WE NOW HAVE 2% OF THE KNOWN OIL RESERVES IN THE WORLD. 11:35:14 AND YET WE CONSUME 25% OF THE OIL. 11:35:17 AND SO, WE CAN INCREASE PRODUCTION IN THE UNITED STATES, 11:35:21 BUT IT CLEARLY CAN'T BE A FULL SOLUTION. 11:35:23 THAT'S WHY WE'RE FOCUSED ON IMPROVING THE FURTHER ENERGY 11:35:28 EFFICIENCY IN AUTOMOBILES AND ADVANCD BIOFUELS. 11:35:37 HAVE YOU HAD CONVERSATIONS ABOUT THE SLOWNESS AND PERMITS 11:35:42 BEING APPROVED OR THE GULF OR MEXICO? 11:35:45 NO, I HAVEN'T. DO YOU INTEND TO HAVE ANY 11:35:48 ABOUT THE SLOWNESS OF THE PERMIT PROCESS? 11:35:51 I BELIEVE THIS HAS GOTTEN STARTED AGAIN AND THE SHALLOW 11:35:55 WATER PERMITS WERE CONTINUING AND NOW, WE HAVE TWO DEEP WATER 11:36:00 PERMITS AND I ANTICIPATE THAT WILL BE ACCELERATING. 11:36:06 BAND WHAT IS YOUR POSITION ON DRILLING IN ANWR? 11:36:09 RIGHT NOW, THERE ARE MANY OPEN SITES FOR DRILLING SO WE 11:36:13 NEED NOT TAP THERE. THE PRESIDENT'S ALSO EXPLORING 11:36:16 OTHER SITES IN ALASKA, BOTH ON AN OFFSHORE. 11:36:19 AT THE PRESENT TIME, THERE ARE MANY SITES OPEN FOR DRILLING 11:36:26 THAT ARE NOT BEING USED AND SO I THINK WE FIRST LOOK TO THOSE 11:36:30 SITES AND TRY TO GET THE OIL COMPANIES INTERESTED. 11:36:33 WOULD YOU LOOK TO THOSE SITES BEING USED FIRST BEFORE YOU TAP 11:36:40 INTO THE STRATEGIC PETROLEUM RESERVE? 11:36:44 IT WAS SOMETHING MEANT TO HAVE CONTINUED OIL SUPPLIES IN 11:36:48 CASE OF SIGNIFICANT DISRUPTION AND THAT'S A STRATEGIC RESERVE. 11:36:53 OIL IS VERY ESSENTIAL FOR OUR COUNTRY AND SO THAT'S THE 11:36:58 ORIGINAL INTENT. WHAT YOU'RE SPEAKING OF ARE 11:37:03 THINGS THAT HAVE IT TAKES EVEN IN A KNOWN RESERVE, IT TAKE AS 11:37:08 YEAR OR TWO TO BRING UP PRODUCTION AND THEN FOR UNKNOWN 11:37:12 RESERVES, FIVE PLUS YEARS. EXACTLY, WOULDN'T IT BE 11:37:20 NECESSARY, WILL YIELD BACK BY TIME WITH THAT. 11:37:21 THANK YOU. THIS TIME, THE GENTLELADY 11:37:23 FROM COLORADO. THANK YOU FOR COMING TODAY. 11:37:28 MR. UPTON SAID WE'RE GOING TO HAVE MORE HEARINGS ABOUT WHAT 11:37:31 HAPPENED WITH THE NUCLEAR POWER PLANTS IN JAPAN, BUT I JUST 11:37:36 WANTED TO ASK YOU A COUPLE OF QUESTIONS THAT HAVE BEEN ON MY 11:37:42 MIND SINCE THE TERRIBLE EVENTS OF LAST WEEK. 11:37:48 THE FUKUSHIMA DAIICHI PLANT, THREE OF THE SIX REACTORS WERE 11:37:51 OPERATING AT THE TIME OF THE EARTHQUAKE TO MY UNDERSTANDING. 11:37:53 IS THAT CORRECT? THIS IS MY UNDERSTANDING, 11:37:56 ALSO. OKAY, AND SO WHEN THE 11:37:59 EARTHQUAKE STRUCK, THE CONTROL RODS ESSENTIALLY SHUT DOWN THOSE 11:38:04 REACTORS AS IT WAS DESIGNED TO DO IF THERE WAS AN EARTHQUAKE. 11:38:07 IS THAT ALSO RIGHT? THAT'S MY UNDERSTANDING. 11:38:10 AND THEN AFTER THE REACTORS WERE SHUT DOWN, THEN POWER WAS 11:38:16 LOST IN THE PLANT AND THEN THE COOLING PUMPS WERE SHUT OFF. 11:38:19 IS THAT CORRECT? THAT'S CORRECT. 11:38:21 THE POWER WAS LOST. SO THEN THE BACK UP DIESEL 11:38:25 GENERATORS CAME ON. AS THAT WAS ALSO DESIGNED TO DO. 11:38:30 AND THEN THOSE GENERATORS QUIT FUNCTIONING BECAUSE THEY WENT 11:38:33 UNDER THE FLOOD WATERS FROM THE TSUNAMI. 11:38:36 IS THAT RIGHT TO YOUR BEST OF YOUR KNOWLEDGE? 11:38:39 THE GENERATORS CAME ON THEN LATER, I'VE BEEN INFORMED THAT 11:38:44 SOME OF THEM SHUT OFF. IT HAD MORE -- THIS IS WHERE I 11:38:50 COULDN'T GIVE ASSURANCES BECAUSE YOU HEAR CONFLICTING REPORTS, 11:38:55 BUT THE STORY I HEARD WAS THAT COOLING FOR THE GENERATORS WAS 11:38:58 AT RISK AND THEY TRIPPED OFF FOR THAT REASON. 11:39:00 RIGHT. OKAY, SO THEN NOW WHAT THEY'RE 11:39:04 TRYING TO DO IS PUMP THE SEA WATER IN TO KEEP THESE RODS FROM 11:39:08 MELTING DOWN, RIGHT? THAT'S CORRECT. 11:39:15 SO, THIS IS THE CONCERN I'VE GOT. 11:39:17 I IMAGINE YOU SHARE THIS CONCERN. 11:39:20 IS THAT THERE WERE NUMEROUS FAIL SAFE SYSTEMS HERE WITH THIS 11:39:29 PLANT. IT'S 40 YEARS OLD -- NUMEROUS 11:39:35 FAIL SAFE METHODS, CORRECT? YES. 11:39:36 BUT THEN, BECAUSE OF THE TSUNAMI, THE PLANT WAS BUILT TO 11:39:42 WITHSTAND EARTHQUAKES, BUT BECAUSE OF IS TSUNAMI, NOW WE'VE 11:39:45 GOT THIS CRISIS ABOUT WHAT TO DO. 11:39:47 THE THING I'M CONCERNED ABOUT IS THAT YOU CAN'T ALWAYS PLAN FOR 11:39:52 EVERY EXIGENCY IN THESE SITUATIONS. 11:39:55 WE SAW THIS ON THIS COMMITTEE. YOU SAW IT LAST YEAR WITH THE 11:40:00 DEEPWATER HORIZON DISASTER BECAUSE THERE WERE NUMEROUS FAIL 11:40:03 SAFE MECHANISMS ON THAT RIG AND THEN EACH ONE OF THEM FAILED AND 11:40:08 THEN WE SAW HUGE AMOUNTS OF OIL SPEWING OUT INTO THE GULF. 11:40:12 SO, HERE'S MY QUESTION FOR YOU. I KNOW D.O.E. IS PUTTING 11:40:17 RESOURCES IN TOWARDS ADVANCED REACTOR TECHNOLOGY AND THERE ARE 11:40:21 A LOT OF CONCERNS FROM THIS COMMITTEE AND FROM A LOT OF MY 11:40:25 COLLEAGUES WHO LIVE IN SOME CALIFORNIA AND SOME OF THE OTHER 11:40:29 EARTHQUAKE ZONES, BUT HERE'S MY QUESTION IS HOW CAN YOU EVER 11:40:33 HAVE ENOUGH, WITH SOMETHING SO POTENTIALLY DESTRUCTIVE AS THESE 11:40:42 NUCLEAR RODS, HOW CAN WE EVER ANTICIPATE THE WORST? 11:40:44 SO THAT WE CAN BE PREPARED FOR IT? 11:40:46 THAT'S A TOUGH QUESTION, I KNOW, BUT MAYBE YOU HAVE SOME INITIAL 11:40:49 THOUGHTS ON IT. WELL, WHAT -- WHAT THE 11:40:53 DEPARTMENT OF ENERGY IS VERY INTERESTED IN DOING IS 11:40:56 DEVELOPING TOOLS TO GET A BETTER HANDLE ON THESE MULTIPLE E 11:41:03 CASCADES EVENTS. AN EARTHQUAKE PLUS TSUNAMI, A 11:41:07 TORNADO PLUS THIS OR THAT. THINGS LIKE THAT. 11:41:09 ONE OF THE THINGS WE'RE KEEN ON DOING BECAUSE WE HAVE DEVELOPED 11:41:14 HIGH PERFORMANCE COMPUTERS AND SIMULATION TECHNIQUES THAT THIS 11:41:17 IS ONE OF THE TOOLS THAT WE THINK CAN BE USED TO MAKE ANY 11:41:21 SYSTEM WE HAVE TO MAKE REACTORS SAFER. 11:41:24 THERE ARE IF YOU CONSIDER ALL THE THINGS WE DO NOW, WE FLY IN 11:41:31 AIR PLAINS. WE DO ALL SORTS OF THINGS AND 11:41:32 THERE IS EVER INCREASING ABILITY TO MAKE EACH OF THESE SYSTEMS 11:41:37 SAFER AS WE GO FORWARD. SURE. 11:41:39 YOU KNOW, ONE THING THAT STRIKES ME AND I WAS JUST IN SWRA PAN A 11:41:45 COUPLE OF JAPAN A COUPLE OF WEEKS AGO. 11:41:50 ONE THING THAT STRIKES JOU ABOUT JAPAN, THIS IS NOT CHERNOBYL. 11:41:52 THIS IS NOT SOME THIRD WORLD COUNTRY WITH RINKY DINK 11:41:58 TECHNOLOGY. THIS IS THE STATE-OF-THE-ART 11:41:59 TECHNOLOGY AND YET, IT FAILED. I REALLY THINK ONE OF THE 11:42:02 QUESTIONS WE'RE GOING TO WANT TO EXPLORE AS WE MOVE FURTHER IS DO 11:42:06 WE REALLY HAVE THE KINDS OF MODELING THAT WE NEED TO DEVELOP 11:42:12 NUCLEAR ENERGY SAFELY IN THIS COUNTRY AND I'M SURE YOU'RE 11:42:14 LOOKING AT THAT, TOO. THANK YOU, MR. CHAIRMAN. 11:42:17 AT THIS TIME, RECOGNIZE THE GENTLEMAN FROM CALIFORNIA. 11:42:20 YES, MR. CHAIRMAN. I THINK SECRETARY WILL AGREE 11:42:24 THAT THE STATEMENT THAT JAPAN WAS STATE-OF-THE-ART IS 11:42:30 INAPPROPRIATE. IT IS A STATE THAT WAS DESIGNED 11:42:33 40 YEARS AGO. WE HAVE DESIGNS EVEN IN THE FUEL 11:42:42 COMPOSITION THAT REALLY ADDRESS ISSUES. 11:42:43 AS SOMEBODY WHO LIVES DOWNWIND OF SANTA -- OUR SURGE WALL IS 11:42:48 THREE TIMES WHAT THEY HAVE IN JAPAN. 11:42:50 THE CONSTRUCTION AT DIABLO IS 30 TIMES HIGHER AND THE FAULT LINE 11:42:56 IS INLAND, NOT OFFSHORE. I THINK THERE ARE DIFFERENCES 11:43:01 S SCIENTIFICALLY. 11:43:03 I AM ONE GUY SITTING ON THIS SIDE OF THE AISLE THAT IS VERY 11:43:05 EXCITED TO SEE YOU AS SECRETARY. WE TALKED ABOUT THIS LAST YEAR 11:43:10 IN THE SCIENCE COMMITTEE. WHEN I WAS AT -- JUST REALIZED 11:43:13 THE CONNECTION. BACK WHEN I WAS A YOUNG, 11:43:16 26-YEAR-OLD CITY COUNCIL MAN, THE DEPARTMENT OF ENERGY WAS 11:43:22 CREATED. BACK IN THE '70s WHEN IT WAS 11:43:26 CREATE, OUR DEPENDSY WAS WHAT AGAIN? 11:43:28 I HEARD 35. I WAS GUESSING 25. 11:43:31 I THINK YOU'RE RIGHT. MORE LIKE 25. 11:43:34 AND WHEN YOU TOOK OVER IN '08, THE IMPORTED ENERGY WAS WHAT 11:43:39 PERCENTAGE? PROBABLY 60, 59. 11:43:43 THAT'S HOW MUCH SUCCESS OUR DEPARTMENT OF ENERGY HAS HAD IN 11:43:46 THE PAST, THAT'S WHY I'M OPTIMISTIC YOU'RE THE RIGHT GUY 11:43:51 AT THE RIGHT TIME WITH THE RIGHT PRESIDENT TO FINALLY GET THIS 11:43:55 COUNTRY TO HAVE AN ENERGY POLICY. 11:43:57 THAT'S ONE OF THE THINGS I'M REALLY ENCOURAGED ABOUT. 11:44:00 MY BIGGEST CONCERN AND I'LL SAY THIS AS TONGUE AND CHEEK, HOW 11:44:04 MUCH OBSTRUCTIONISTS SEEM TO BE THERE WHEN YOU COME UP WITH AN 11:44:10 INNOVATIVE APPROACH. AS ONE OF THE THREE CALIFORNIA 11:44:12 SURFERS IN CONGRESS, YOU MESS WITH OUR WAVES TO GENERATE 11:44:16 ELECTRICITY, YOU'RE GOING TO HAVE A REAL PROBLEM WITH US, 11:44:20 OKAY? EVERY TIME SOMEBODY SAYS THERE'S 11:44:22 SOMETHING NOBODY WILL COMPLAIN ABOUT, BELIEVE ME, YOU START 11:44:26 TALKING ABOUT WAVE ACTIONS IN SOUTHERN CALIFORNIA, HAWAII, 11:44:30 WE'RE GOING TO HAVE SOME CONCERNS. 11:44:32 BUT THAT ASIDE, ONE OF THE THINGS I WANT TO TALK ABOUT IS 11:44:37 YOU'RE BEING ASKED TO DO THINGS IN ISOLATION. 11:44:40 MY ATTITUDE ABOUT OIL RESERVES, THE AREAS BEING DRILLED, RIGHT 11:44:43 NOW, WE ARE BUYING OIL OVERSEAS, SENDING OUR RESOURCES OVER SEAS. 11:44:50 WHAT HAPPENS TO THE FEDERAL PROFITS WE GET FROM OPENING UP 11:44:54 LANDS LIKE ANWR OR ALASKA? WE MAKE SOME PROFITS OFF THOSE 11:44:58 OIL EXPLORATION AND DEVELOPMENT DON'T WE? 11:45:00 WE DO. AND WHERE DOES THAT RESOURCE 11:45:02 GO NOW? AS FAR AS I KNOW TO THE 11:45:05 TREASURY. DON'T YOU THINK WE MAY WANT 11:45:08 TO AT LEAST DISCUSS THE POSSIBILITY OF OPENING UP LANDS 11:45:12 AND COMMITTING TO NEXT GENERATION GREEN FUEL SO WE HAVE 11:45:16 A BUILT IN RESOURCE LIKE THE TRANSPORTATION COMPONENTS, HAVE 11:45:19 A BUILT-IN SOURCE FOR YOU TO USE TO BE ABLE TO PAY FOR THAT 11:45:23 BRIDGE TO A GREENER FUTURE? I WOULD LOVE THE DEPARTMENT 11:45:44 OF ENERGY TO HAVE A BUILT-IN SOURCE TO DO THE RESEARCH. 11:45:50 LET'S TALK ABOUT OBSTRUCTIONS. 11:45:52 ISN'T IT TRUE THAT THE TECHNOLOGY WE USE FOR EFFICIENT 11:45:54 ELECTRIC MOTORS AND THE EFFICIENT GENERATION OF WIND 11:45:55 POWER DEPENDS ON PERMANENT MAGNET TECHNOLOGY BECAUSE IT'S 11:45:56 MORE EFFICIENT? THE PERMANENT IS MORE 11:45:58 EFFICIENT AND WE'RE ALSO LOOKING AT OTHER, BECAUSE THESE -- 11:46:03 THIS IS WHERE WE COME DOWN. THE RARE EARTH. 11:46:05 AT THE SAME TIME WE'RE TALKING ABOUT LICHTRYIFICATION, NOBODY 11:46:10 IS TALKING ABOUT OPENING UP PUBLIC LANDS TO ALLOW THE MINING 11:46:17 OF RARE EARTH, 70 POUNDS IN EVERY PRIUS. 11:46:20 30 YEARS IN THIS ENERGY DEPARTMENT, THE DEPARTMENT OF 11:46:25 INTERIOR HAS CREATED AN ENVIRONMENT -- IT'S NOW IN 11:46:30 CHINA. DON'T YOU AGREE IF WE WANT TO 11:46:33 CREATE EFFICIENT ELECTRICAL GENERATION AND USE, WE'VE GOT TO 11:46:38 BE BRAVE ENOUGH TO ASK OUR COLLEAGUES TO START LOOKING AT 11:46:41 OPENING UP PUBLIC LANDS WITHIN OUR COUNTRY SO THESE ESSENTIAL 11:46:45 RARE EARTH CAN BE DEVELOPED IF YOU'RE GOING TO GO TO ELECTRIFY 11:46:51 KAGS. I AGREE HAVE CHINA CONTROL 11:46:54 RARE EARTH OF THE WORLD IS NOT A GOOD SITUATION AND WE ARE 11:46:58 LOOKING I BELIEVE MOLLY CORP. CORPORATION -- I THINK 11:47:03 CALIFORNIA. MY POINT, DOCTOR, IS THAT YOU 11:47:10 UNDERSTAND THE BARRIERS. MORE GOVERNMENT OBSTRUCTIONISM. 11:47:15 WE WRITE CHECKS QUICK. WE TALK ABOUT NEEDING A 11:47:21 MANHATTAN PRODUCT FOR ENERGY D 11:47:23 DEPENDENCE. IT WOULD NOT BE LEGAL TO PERFORM 11:47:24 UNDER FEDERAL AND STATE REGULATIONS AND WE'VE GOT TO BE 11:47:28 WILLING NOT TO JUST TELL OTHER PEOPLE HOW TO CHANGE. 11:47:31 THOSE IN GOVERNMENT HAVE TO CHANGE THE WAY WE DO BUSINESS, 11:47:35 TOO. WOULDN'T YOU AGREE? 11:47:36 I THINK WE ARE GOING TO BE LOOKING AT MANY, MANY THINGS, 11:47:39 BUT CERTAINLY MEET THE REQUIREMENTS OF SOMETHING WE 11:47:42 ALSO HAVE TO TAKE SERIOUSLY AND I'D BE GLAD TO TALK TO YOU ABOUT 11:47:45 THAT IN PRIVATE. THIS TIME, RECOGNIZE THE 11:47:47 GENTLEMAN FROM PENNSYLVANIA. THANK YOU, MR. CHAIRMAN. 11:47:52 MR. SECRETARY, WELCOME, IT'S A PLR TO HAVE YOU HERE TODAY. 11:47:57 SECRETARY CHU, IN PITTSBURGH, WE ARE FORTUNATE TO HAVE THE 11:48:05 TECHNOLOGY LAB THAT DOES A WILL THE LOT OF RESEARCH. 11:48:07 I WAS HOPING TO ASK YOU ABOUT THE CUTS IN T UPCOMING BUDGET 11:48:12 PROPOSAL. I SEE YOU'VE TERMINATED ALL THE 11:48:15 NATURAL GAS AND OIL PROGRAMS OUT OF THE NATL. 11:48:20 DON'T YOU VIEW THESE PROGRAMS AS BEING PARTICULARLY RELEVANT 11:48:24 TODAY SINCE IT FUNDS PRODUCTS RELATED TO DRILLING, AS WELL AS 11:48:31 DEVELOPMENT OF ADVANCED TECHNOLOGIES THAT WILL ALLOW 11:48:35 INCREASED RECOVERY OF OUR OIL AND GAS RESOURCE SNS. 11:48:42 I THINK THE DEPARTMENT OF ENERGY PLAYED A VERY IMPORTANT 11:48:44 ROLE IN THE DWMT OF NATURAL GAS RECOVERY TO 1992. 11:48:49 IT WAS THE AGENCY THAT LED TO THE TRACKING OF NATURAL GAS. 11:48:54 BUT THE PRIVATE SECTOR HAS PICKED IT UP AND IS DOING QUITE 11:48:57 WELL. THERE'S BEEN A TRANSFER OF FUNDS 11:49:00 FROM FEDERAL FE, FOSSIL ENERGY, TO THE OFFICE OF SCIENCE. 11:49:04 FOR DOING RESEARCH IN METHANE HYDRATE. 11:49:09 BECAUSE COMMERCIALLY ENTITIES ARE NOT THAT INTERESTED IN SO 11:49:14 FAR, BUT THE BULK OF OUR FUNDING IN FE AS YOU KNOW, IS FOR CARBON 11:49:23 C CAPTURE. 11:49:24 I UNDERSTAND THE LARGER COMPANIES HAVE THE ABILITY TO 11:49:26 PICK UP SOME OF THAT SLACK, BUT THIS PROGRAM, AT LEAST IN MY 11:49:31 VIEW, IS NOT SUBSIDIZING THE BIGGER COMPANIES AND IN THE 11:49:35 UNITED STATES, WE HAVE 5,000 SMALL INDEPENDENT PRODUCERS. 11:49:39 THEY DO 60% OF THE DOMESTIC OIL AND 80% OF THE NATURAL GAS COME 11:49:47 FRS THESE SMALL COMPANIES AND THEY DON'T HAVE THE RESOURCES TO 11:49:49 INVEST IN THE RND AND THIS IS WHERE DOD HAS FULFILLED A 11:49:55 CRITICAL NEED THROUGH PARTNERSHIPS WITH COMPANIES LIKE 11:49:59 THESE AND UNIVERSITY RESEARCHERS AND TECHNOLOGY. 11:50:01 I WANT TO ASK ALSO TO FOLLOW UP, YOU JUST MENTIONED THIS. 11:50:04 THE ADMINISTRATIONS PROPOSED THAT THE HYDRATE RESEARCH 11:50:08 PROGRAM IN THE GAS HYDRATE RESOURCE PROGRAM AND 11:50:14 FOSSIL ENERGIES BEING TERMINATED AND TRANSFERRED TO THE 11:50:17 DEPARTMENT OFFICE OF SCIENCE. THE PROGRAM HAS BEEN 11:50:20 WELL-MANAGED, MADE SIGNIFICANT PROGRESS AND IT CONCERNS ME THAT 11:50:22 YOU ARE GOING TO KILL A PROGRAM THAT'S ON THE VERGE OF MAKING 11:50:26 PRODUCTION FROM GAS HYDRATE TO PRACTICAL REALITY AFTER DECADES 11:50:31 OF RESEARCH AND MILLIONS OF DOLLARS SPENT BY DOE AND OTHER 11:50:36 AGENCIES TO BRING THIS TO THIS POINT, THAT YOU ARE GOING TO 11:50:39 START UP A NEW PROGRAM IN THE OFFICE OF SCIENCE THAT I THINK 11:50:41 WOULD HAVE LITTLE BEARING ON ANYTHING. 11:50:43 WHEN YOU LOOK AT THE LANGUAGE JUST IN THE MOST RECENT SENATE 11:50:47 ENERGY AND WATER SENATE REPORT, WE CONTAIN LANGUAGE ABOUT THIS 11:50:52 THAT THE COMMITTEE RECOMMENDED INCLUDED 22 MILLION AND OF THIS 11:50:57 AMOUNT, 15 MILLION IS PROVIDED BY METHANE HYDRATE ACTIVITIES. 11:51:01 THE COMMITTEE RESTORED THIS HYDRATE TECHNOLOGY PROGRAM TO 11:51:04 THE ACCOUNT AN THEY DON'T SUPPORT FUNDING THIS WITHIN THE 11:51:07 OFFICE OF SCIENCE. THEIR INTENTION WAS THIS WAS TO 11:51:13 BE FUNDED OUT OF FOSSIL ENERGY. I AM CURIOUS WHY YOU ARE 11:51:15 DECIDING TO DEFUND THIS PROGRAM AND THANS FER IT TO THE OFFICE 11:51:18 OF SCIENCE. I KNOW THE PROGRAM VERY WELL 11:51:24 AND WE WILL CERTAINLY ABIDE BY, AND I DO THINK HIGHLY OF IT. 11:51:27 WE HOPE THE OFFICE OF SCIENCE WILL LOOK TO THE PEOPLE DOING 11:51:30 THAT RESEARCH. WE WILL ABIDE BY CONGRESS'S 11:51:36 WISHES. AS CO-CHAIR OF THE HYDROGEN 11:51:39 AND FUEL CELL CAUCUS, I AM CONCERNED ABOUT THE DEPARTMENT'S 11:51:42 ELIMINATING BASICALLY ZEROING OUT FUNDING FOR THE FUEL CELL 11:51:45 ENERGY PROGRAM WITHIN THE OFFICE OF FOSSIL ENERGY. 11:51:48 I UNDERSTAND THAT ONE OF THE PROJECTS MANAGED BY D.O.E. WON 11:51:57 AN AWARD IN 2010. I AM CURIOUS WHY WOULD YOU 11:52:01 ELIMINATE THIS VERY SUCCESSFUL FOSSIL ENERGY PROGRAM THAT'S 11:52:04 DEVELOPING FUEL CELL TECHNOLOGY REQUIRED FOR LARGE SCALE POWER 11:52:08 GENERATION APPLICATIONS TO PRODUCE AFFORDABLE, EFFICIENT 11:52:12 AND ENVIRONMENTALLY FRIENDLY ELECTRICITY FROM COAL? 11:52:16 WE HAVE SEVERAL FUEL CELL PROGRAMS WITHIN THE DEPARTMENT 11:52:18 OF ENERGY AND WE WERE CONSOLIDATING THEM. 11:52:25 WE ARE CONTINUING TO FUND FUEL SELL DEVELOPMENT AS STATIONARY 11:52:29 FUEL CELLS. SO IT WAS MOVED OUT OF FOSSIL 11:52:32 ENERGY. MY UNDERSTANDING IS THAT YOU 11:52:34 ARE CONTINUING TO FUND TRANSPORTATION FUEL CELLS BUT 11:52:37 THAT YOU HAVE ZEROED OUT THE STATIONARY FUEL CELLS. 11:52:41 ARE YOU SAYING THAT IS NO THE ACCURATE? 11:52:43 IT IS MY UNDERSTANDING WE ARE MOSTLY CONCENTRATING ON 11:52:48 STATIONARY FUEL CELLS. WE DO HAVE SOME. 11:52:52 THANK YOU. I SEE MY TIME HAS EXPIRED. 11:52:56 THANK YOU, MR. SECRETARY. AT THIS TIME, THE CHAIR 11:52:59 RECOGNIZES THE GENTLEMEN FROM VIRGINIA, MR. GRIFFITH. 11:53:01 THANK YOU, MR. CHAIRMAN. CONTINUING TALKING ABOUT COAL A 11:53:06 LITTLE BIT, I'M CONCERNED THAT NEW REGULATIONS WILL SLOW GROWTH 11:53:09 AND SEND JOBS TO CHINA. BOTH YOU AN THE PRESIDENT ARE 11:53:13 SUPPORTERS OF CHINA'S ENERGY POLICY. 11:53:15 WE HEAR TIME AND TIME AGAIN FROM THE ADMINISTRATION THAT CHINA 11:53:18 HAS STRONG COMMITMENT TO WIND AND SOLAR ENERGY AND WE NEED TO 11:53:21 CATCH UP OR WE WILL LOSE THE FUTURE. 11:53:23 YOU WOULD AGREE AND ARE AWARE THAT CHINA GETS 70% OF ITS TOTAL 11:53:27 ENERGY AND 80% OF ITS ELECTRICITY FROM COAL, WOULDN'T 11:53:30 YOU AGREE WITH THAT? I HAVE HEARD NUMBERS LIKE 11:53:33 THAT, YES, YES. ISN'T IT TRUE THAT CHINA USES 11:53:37 3.5 TIMES AS MUCH COAL AS THE UNITED STATES AND THAT NUMBER IS 11:53:43 GROWING? I THINK SO. 11:53:44 AGAIN, I'M NOT SURE OF THE EXACT NUMBERS. 11:53:47 OKAY. YOU ARE AWARE THAT UNDER THE 11:53:50 KYOTO PROTOCOL, CHINA HAS NO OBLIGATIONS TO REDUCE HE 11:53:54 EMISSIONS AND IS NOT IMPOSING ANYTHING ANYWHERE XLOES TO THE 11:53:59 EPA'S GREENHOUSE GAS REGULATION ON ITS COAL USE, ISN'T THAT 11:54:02 CORRECT? THAT IS CORRECT. 11:54:03 YOU ARE ALSO AWARE THAT THE CHINESE GOVERNMENT HAS 11:54:07 REPEATEDLY STATED THEY WOULD NEVER PUT A PRICE ON CARBON, 11:54:10 ISN'T THAT ALSO TRUE? I DON'T KNOW. 11:54:15 CHINA HAS COMMITTED VERY EMPHATICALLY TO TRANSITION TO 11:54:20 15% RENEWABLE ENERGY BY 2020. THEY MAY GET TO 20%. 11:54:25 OKAY. WHILE YOU ARE AWARE THAT WIND 11:54:27 AND SOLAR IN CHINA ARE GROWING IN PERCENTAGE TERMS, THEY WILL 11:54:32 NEVER OR AT LEAST NOT ANY TIME IN THE NEAR FUTURE BE EQUAL TO 11:54:40 THEIR RELATIONSHIP OR THEIR RELIANCE ON COAL, ISN'T THAT 11:54:43 TRUE? WELL, IT IS THEIR INTENTION 11:54:48 TO GREATLY DIVERSIFY THEIR ENERGY SUPPLIES. 11:54:52 IN THE SHORT-TERM, THEY ARE HEAVILY DEPENDANT ON COAL BUT 11:54:56 THEY WANT TO DEVELOP WIND AND SOLAR, HYDRO, NUCLEAR. 11:55:00 THE FACTORIES THAT MAKE THE WIND TURBINES AND SOLAR PANELS 11:55:05 FOR EXPORT TO EUROPE AND THE U.S., ISN'T IT TRUE THEY ARE 11:55:09 POWERED BY COAL ENERGY SOURCES? I WOULD PRESUME GIVEN THAT 11:55:12 COAL IS STILL THE DOMINANT FORM OF ENERGY. 11:55:15 DON'T YOU THINK THAT'S A PART OF THEIR COMPETITIVE ADVANTAGE, 11:55:18 THAT THEY ARE USING A CHEAP SOURCE OF FUEL THAT WE SEEM TO 11:55:25 NOT WANT TO USE IN THIS COULDN'T INTEREST I? 11:55:27 WELL, IT'S MORE COMPLICATED THAN THAT. 11:55:33 I THINK IF YOU DON'T MIND, I WILL TELL YOU A LITTLE STORY. 11:55:36 I TOURED A CHINESE SOLAR COMPANY AND THEY WERE -- THEY WOULD GET 11:55:42 THEIR SILICON FROM COMPANIES IN THE UNITED STATES AND THEN ADD 11:55:46 THE HIGH-VALUE PART OF IT TO MAKE THE MODULES IN CHINA. 11:55:51 I APPRECIATE THAT. MY CONCERN IS, I ONLY GET A SRN 11:55:54 NUMBER OF MINUTES TO ASK YOU QUESTION. 11:55:57 MY CONCERN IS THAT IT APPEARS TO MANY THAT THE FUTURE OF COAL IN 11:56:01 THE UNITED STATES IS MERELY TO MINE IT TO CHINA AND SEND IT FOR 11:56:06 THEM TO USE AND OUR JOBS ARE GOING TO GO OVER THERE. 11:56:09 THEY ARE GOING TO SEND THEIR POLLUTION BACK TO US, BECAUSE 11:56:12 THINK ARE NOT GOING TO HAVE SOME OF THE MORE REASONABLE 11:56:14 REGULATIONS THAT WE HAVE BUT THAT WE ARE NOT USING OUR OWN 11:56:18 COAL FOR OUR MANUFACTURING PURPOSES. 11:56:20 SO AS A PART OF THAT, I'M WONDERING IF YOU HAVE TALKED TO 11:56:22 ANY OF THE FOLKS AT THE EPA ABOUT THEIR SLOWNESS TO PERMIT 11:56:28 NEW COAL MINING OR IS THIS PART OF AAN ADMINISTRATION PLAN TO 11:56:33 SLOW DOWN THE PRODUCTION OF COAL AND FORCE US TO, I THINK, LOSE 11:56:36 JOBS AND NOT USE COAL, BECAUSE THERE ISN'T A SUPPLY AVAILABLE 11:56:40 DOMESTICALLY. I HAVE NOT TALKED TO THE EPA 11:56:44 REGARDING THIS. JUST TO FINISH THAT STORY, CHINA 11:56:47 TAKES ITS SILICON FROM THE UNITED STATES BECAUSE THEY SAY 11:56:51 THAT ENERGY IS SO CHEAP IN THE UNITED STATES AND THAT'S WHY WE 11:56:54 DO IT. IN REGARD TO COAL, YOU WOULD 11:56:57 AGREE THAT IT IS A FAIRLY AFFORDABLE AND RELIABLE SOURCE 11:57:03 OF ENERGY IN THE UNITED STATES AND THAT IT IS A GOOD SOURCE, AT 11:57:06 LEAST OVER THE NEXT 20 OR 30 YEARS, IT IS A GOOD SOURCE THAT 11:57:09 WE SHOULDN'T CRIPPLE, WOULD YOU NO THE AGREE? 11:57:12 WELL, I THINK THAT'S WHY THE DEPARTMENT OF ENERGY IS 11:57:14 COMMITTED TO DEVELOPING THOSE TECHNOLOGIES, TO USE COAL AS 11:57:18 CLEANLY AS POSSIBLE. I WOULD ENCOURAGE YOU TO WORK 11:57:19 WITH THE ENVIRONMENTAL PROTECTION AGENCY TO MAKE SURE 11:57:22 THEY DON'T SHUT DOWN YOUR SUPPLY FOR THOSE PURPOSES AND OTHER 11:57:25 PURPOSES. THANK YOU. 11:57:27 THANK YOU. THANK YOU. 11:57:28 AT THIS TIME, I RECOGNIZE THE GENTLEMEN FROM OHIO -- NO, FROM 11:57:37 TEXAS, DR. BURGESS. THANK YOU, MR. CHAIRMAN. 11:57:41 DOCTOR CHU, APPRECIATE YOU BEING HERE AND APPRECIATE HOW GENEROUS 11:57:44 YOU HAVE BEEN WITH YOUR TIME OVER THE PAST TWO YEARS TO VISIT 11:57:47 WITH MEMBERS OF THE COMMITTEE OUTSIDE OF THE COMMITTEE ROOM. 11:57:52 IN RESPONSE TO A QUESTION FROM THE GENTLEMEN FROM MISSISSIPPI 11:57:57 ABOUT ANWAR AND WHETHER OR NOT THE PRESIDENT WOULD CONSIDER 11:57:59 THAT, YOU SAID THERE WERE OTHER SITES FROM ALASKA THAT THE 11:58:03 PRESIDENT WAS LOOKING AT. IN ALL ON ESSTI, HIS BACKGROUND 11:58:07 AS A COMMUNITY ORGANIZER, YOU ARE THE ENERGY EXPERT. 11:58:10 ARE YOU HELPING HIM WITH THAT? WELL, IT IS ACTUALLY THIS IS 11:58:18 THE DOMAIN OF THE SECRETARY OF INTERIOR. 11:58:20 SO IT IS THE SECRETARY OF INTERIOR THAT WOULD BE HELPING 11:58:23 HIM WITH THAT. HE HAS SOME PETROLEUM PEOPLE 11:58:26 THAT ARE HELPING HIM MAKE THAT DECISION? 11:58:28 I WOULD THINK SO, YES. WE HAVE TO FIND THAT OUT. 11:58:32 WE CAN HELP HIM. NOW, ALSO MENTIONED, PREVIOUS 11:58:36 ANSWER TO A PREVIOUS QUESTION, YOU SAID OIL CAN'T BE OUR ONLY 11:58:40 SOLUTION. WE HAVE 2% OF RECEIPT SERVES AND 11:58:46 25% OF THE CONSUMPTION. A RESOURCE WHERE WE DO HAVE 11:58:49 SIGNIFICANT RESERVES IS NATURAL GAS. 11:58:51 IN MY PART OF TEXAS, WE HAVE V NEW TECHNOLOGY THAT ALLOWS 11:58:57 RECOVERY OF NATURAL GAS FROM AREAS THAT ARE PREVIOUSLY 11:58:59 THOUGHT TO BE

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