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Photo: Axios

Investing in clean energy technologies is crucial to America's economic vitality and security, Energy Secretary Jennifer Granholm said at Axios virtual event on Thursday.

Why it matters: Clean energy technology is a $23 trillion global market.

  • “We can be great stewards of our environment and keep people in good paying jobs all at the same time," noted Michigan Gov. Gretchen Whitmer (D) who also appeared at the event.

What they're saying: Both Granholm and Whitmer spoke of the importance of ensuring that America is self-reliant when it comes to clean energy technologies.

  • “We shouldn't be buying wind turbines from from Denmark. We should be building them here and stamping a made in America. And, by the way, we could be exporting them as well," said Granholm.
  • Producing these items at home gives America the means to ensure "our national security, our economic security and our energy security," said Granholm.
  • "[I]t's so important that we're ready that we build up the infrastructure to support electric vehicles," said Whitmer, adding that Michigan will work with neighboring states, the federal government, and auto manufacturers to aid this transition.

Sen. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, called clean energy technology the "future," and noted that under the Biden administration he hopes to revise the tax code to include incentives for these clean energy.

  • " This is not your grandfather's climate,” he said of the urgency of this transition to clean jobs.

Watch the full event here.

Go deeper

Colonial Pipeline restarting service after hack

Photo: Bloomberg via Getty Images

Colonial Pipeline is restarting operations around 5 p.m. ET Wednesday, Energy Secretary Jennifer Granholm announced.

Why it matters: At least 11 states and Washington, D.C., have experienced gas shortages since a ransomware attack forced the critical pipeline running from Texas to New York to shut down on Saturday.

Ben Geman, author of Generate
May 12, 2021 - Economy & Business

Gas prices rise in several states as pipeline outage crimps supply

Illustration: Rebecca Zisser/Axios

Gas stations in several states are out of fuel and AAA reports the nationwide average price breached $3-per-gallon for the first time in six years amid the cyberattack-induced shutdown of the Colonial Pipeline.

Driving the news: The ransomware attack on Colonial Pipeline, the nation's largest refined fuel pipeline that extends from Texas into the Northeast, is creating a scramble as the outage persists into its sixth day.

Elon Musk suspends Tesla purchases with bitcoin

Elon Musk. Photo: Liesa Johannssen-Koppitz/Bloomberg via Getty Images

Consumers can no longer buy Tesla vehicles with bitcoin, CEO Elon Musk announced on Twitter Wednesday.

What he's saying: Musk cited the environmental concerns associated with bitcoin — the cryptocurrency has a massive carbon footprint — as his reasoning behind Wednesday's decision.