PARIS, France, May 23, 2007.
The United States is calling on other countries to diversify energy portfolios to include more renewable energy sources.
There is a great opportunity to put the International Energy Agency to good use, U.S. energy secretary Samuel Bodman told an IEA ministerial press briefing. The organisation was founded to coordinate the response to supply disruptions and now can coordinate efforts to address short and long term energy security concerns facing countries around the world.
“The challenges are significant and, by now, we all know them well: growing demand, rising prices, increased instances of resource manipulation and limited access and greater attention to environmental and climate concerns,” he said. “And the needs are no less obvious; all nations need a reliable, affordable, clean supply of energy in order to ensure continued economic growth and prosperity.”
The U.S. has articulated a “comprehensive, international strategy to increase U.S. and global energy security” and has “called on all responsible nations to join us in pursuing five goals,” he explained. “We must diversify our energy portfolios to include more alternative and renewable energy sources including biofuels, solar, wind and even nuclear. This will relieve pressure on energy markets and yield positive environmental benefits.”
In the U.S., the Advanced Energy Initiative provides support for research and support for deployment and commercialisation of renewable energy sources, and the ‘20 in 10' plan mandates a 20% reduction in projected gasoline usage in the next ten years. Energy efficiency and conservation efforts must increase, both by individual consumers and the industrial sector.
“We must reduce our impact on the environment and deal with the serious challenges of climate change,” he added. “This is a global challenge and requires a global solution, and we believe that it must be addressed in the context of energy security and economic growth.”
The goals require investment throughout the energy supply chain, and the U.S. is working to support and facilitate private sector efforts in “areas where they cannot or will not take the risk” such as funding of basic science and cost-sharing initiatives in biofuels and solar energy, loan guarantees for novel and clean energy technologies, risk insurance for new nuclear plants and production tax credits.” IEA should discuss how government should promote investment both in traditional hydrocarbons and in renewables.
“We are at a critical juncture and, as leaders, it is our responsibility to not only identify challenges but aggressively pursue creative ways to develop solutions,” he concluded. “What are we prepared to do to address barriers preventing widespread deployment of clean energy technologies and advanced equipment?”
