Secretary of Energy Steven Chu acknowledged at a symposium on Monday that we are falling behind the clean energy race, as reported in Reuters:

“The world is passing us by. We are falling behind in the clean energy race. … China is spending $9 billion a month on clean energy … China has now passed the United States and Europe in high-tech manufacturing. There is no reason the United States should cede high-tech manufacturing to anyone.”

In addition, Secretary Chu called for an 80% reduction in U.S. carbon emissions by 2050. He also highlighted the enormous opportunity clean energy presents to the U.S. economy:

“This is high-tech manufacturing. This means quality jobs for Americans, this means better exports and balance of trade, it means better consumption at home, it further drives down the price of wind, it betters our exports, it creates jobs in America. We see all good things.”