News & Events

It is an honor to address the leadership of an industry that is so important to America's energy future.

I would particularly like to recognize the members of Congress attending this conference today in addition to Sen. Pete Domenici—Sen. Jim Inhofe and Rep. Joe Barton—whose leadership is so important to the energy sector. Also, this organization's new president, Admiral Skip Bowman, who served so long and so well at the Department of Energy. And one person who is not with us today—the Department of Energy's longtime director of Nuclear Energy, Science and Technology, Bill Magwood, who is moving on to new opportunities after serving 11 years, under two presidents and five secretaries of energy. I know the NEI is recognizing Bill for his leadership and important contributions, and I join in thanking him for his service and wishing him all the best.

There are many good reasons why nuclear power, which produces about 20 percent of America's electricity, is a cornerstone of President Bush's National Energy Policy, which was unveiled four years ago this week and is making good progress in addressing many critical issues.

We all know that the demand for energy around the world is on the rise. The International Energy Agency recently predicted that global demand for energy will grow by about 60 percent over the next 25 years, with two-thirds of the increase coming from rapidly developing countries such as China and India. Economic expansion in those nations is accelerating the need for additional energy to fuel their booming industrial and transportation sectors, and to electrify vast rural regions.