PRESS RELEASE: ROOSEVELT INSTITUTE, DATA FOR PROGRESS, AND CLIMATE POWER HIGHLIGHT NEED TO INVEST IN RENEWABLES, LOWER ENERGY COSTS AFTER CPI REPORT 

FOR IMMEDIATE RELEASE
May 11, 2022

Contact: 
TJ L’Heureux, Press Secretary
[email protected]

ROOSEVELT INSTITUTE, DATA FOR PROGRESS, AND CLIMATE POWER HIGHLIGHT NEED TO INVEST IN RENEWABLES, LOWER ENERGY COSTS AFTER CPI REPORT 

Roosevelt Institute’s Lauren Melodia: “The rapid transition to renewable energy, which will be of benefit to consumers and our economy, needs government-led investment in utility solar and wind, EV charging, and more.”

Climate Power’s Noreen Nielsen: “We need to invest in a clean energy economy that will save families $500 every year and create jobs, and we need to reign in the profiteering and price-gouging with a tax on their windfall energy profits.”

Data for Progress’ Lew Blank: “Clean energy investments would not only strengthen our economy and keep costs low for families, they would also be a political slam dunk.”

WASHINGTON, DC — Today, the Roosevelt Institute’s Lauren Melodia, Climate Power’s Noreen Nielsen, and Data for Progress’ Lew Blank joined a press call hosted by Invest in America to discuss a report about the need for energy price stability through investments in clean energy, released by the Roosevelt Institute in light of the newly-released Consumer Price Index (CPI) report.

The speakers emphasized the need to make energy prices more stable through clean energy investments, which will lower energy costs for workers and families, create jobs, and benefit the economy. Listen to a recording here.

The following are statements from the call:

Lauren Melodia, Deputy Director of Macroeconomic Analysis at the Roosevelt Institute:

“The fact that fossil fuel prices are omitted from the Federal Reserve’s measure of core inflation signals that we’ve accepted the constant volatility of fossil fuel prices as the backdrop of our economy, rather than as an alarming indicator of the precarity of our energy dependence. Electrified renewable energy has the qualities to be a stabilizing force. The overall cost of renewable energy production is declining and will continue to decline, so this can be passed on to consumers as lower utility bills. But the rapid transition to renewable energy, which will be of benefit to consumers and our economy, needs government-led investment in utility solar and wind, EV charging, and more.”

Noreen Nielsen, Senior Adviser at Climate Power:

“The news of this report reinforces what we already know: our reliance on fossil fuels is costing Americans all too much. It’s important to put the blame where it belongs, with oil and gas CEOs. It’s time we hold them accountable, and we can do that in two ways — first, we need to invest in a clean energy economy that will save families $500 every year and create jobs, and second, we need to reign in the profiteering and price-gouging with a tax on their windfall energy profits. These two steps alone would be good for the economy, good for the environment, and good for Americans and their pocket books.”

Lew Blank, Polling Analyst at Data for Progress:

“The ongoing energy crisis triggered by Russia’s invasion of Ukraine reminds us once again of the need to invest in clean energy production here at home, and to move swiftly toward our clean energy future. Clean energy investments would not only strengthen our economy and keep costs low for families, they would also be a political slam dunk. Our latest polling with Climate Power finds that 74 percent of Americans say it’s important for Congress to take action to address the energy crisis by investing in clean energy.”

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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