Sec. Yellen Says Biden’s Top Priority Is Climate and ‘Clean Energy Economy’

EXCERPT:

YELLEN: "We need clean energy economies that are less vulnerable to shocks, including from geopolitics, and we need to build these economies in ways that expand economic opportunity. President Biden has made this a top priority. At home, the Inflation Reduction Act is fueling investments in manufacturing and clean energy, and expanding economic opportunity across the United States. I’ve had the chance to see this firsthand in my travels. From solar in Georgia, to the battery belt emerging across the Midwest and South, we’re creating good jobs and American communities that haven’t historically had the economic opportunity they deserve. But the IRA s not a turn toward American protectionism. We’re not creating jobs just at home. USEU trade in green energy products exceeded $2 billion in 2022. And European countries can be leaders in this area. The thermal processing equipment in the Suniva factory I visited in March, is supplied by Germany’s Centrotherm and is just one example of potential opportunities for Europe. The U.S. is investing in Europe as well, such as through Bill Gates' Breakthrough Energy.”