July 18,2022

Press Contact:

Ashley Schapitl

Wyden Statement on Path Forward on Clean Energy

Washington, D.C.—Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the path forward on clean energy:

“Conversations on clean energy must continue to preserve our options to move forward. Nearly all of the clean energy credits have already expired, and it will be difficult to extend them at the end of the year. Even if we reach an agreement with Republicans on an extension, it will likely be for only a handful of years, far short of the permanent reform we could achieve in our package.

“Without long-term certainty, investment in clean domestic energy will fall far short of what is necessary to reduce carbon emissions and secure lower prices for American consumers. Critical nascent technologies like carbon capture and sequestration, hydrogen, and new advanced nuclear power will struggle to take off.

“We know that a critical driver of inflation is high energy prices, driven by volatility in the price of oil and natural gas. If we do nothing to bolster our clean, domestic energy supplies, the cost of energy will continue to increase, not decrease, and we will continue to be over reliant on foreign authoritarians like Mohammed bin Salman and Vladimir Putin.

“While I strongly support additional executive action by President Biden, we know a flood of Republican lawsuits will follow. Legislation continues to be the best option here. The climate crisis is the issue of our time and we should keep our options open.”