The Department of Energy released their budget request for fiscal year 2011 today. While the Office of Energy Efficiency and Renewable Energy's budget is slated for a slight increase, the Industrial Technologies Program's budget request is the same as 2010's request — $100 million (although the actual 2010 budget as passed by Congress was only $96 million).
We are disappointed that the request is not higher. ACEEE recommends that the ITP budget should be $150 million, closer to the funding a decade ago.
Today, legislative language was released for a Senate jobs bill that will likely be introduced in the coming weeks. ACEEE is pleased that $11.5 billion for energy efficiency has been included as a key component of the bill. Of that money, $4 billion would be allocated for industrial energy efficiency and productivity.
In December, ACEEE and 26 other leading trade associations, industrial firms, and NGOs signed a letter in support of provisions in upcoming jobs legislation that will create jobs, improve energy efficiency in manufacturing, and help make American industry more competitive.
On December 16, 2009, President Obama released a report on revitalizing manufacturing in the United States.
According to a new report released by the Institute for Supply Management, in December the U.S. manufacturing sector grew for the fifth straight month. The ISM's index of national factory activity rose to 55.9 from 53.6, putting it at its highest level since April 2006.
See the Reuters article for details.
Is credit starting to flow?
Every six weeks, the Quarterly conducts an economic conditions snapshot survey of a panel of executives around the world. For the first time in more than a year, the proportion of respondents who report that their companies have sought external funds has changed significantly—increasing to 41 percent, from 32 percent in October. What’s more, a higher proportion of these companies actually received the money they sought. Our findings may indicate a rising—and apparently well-founded—hope among executives that credit will be available.
On December 2, a number of collaborators from several federal agencies released a report at the request of five Senators from manufacturing states: Evan Bayh (D-IN), Sherrod Brown (D-OH), Arlen Specter (D-PA), Debbie Stabenow (D-MI), and Claire McCaskill (D-MO).
The original letter from the Senators asked that the Administration offer an analysis of four primary points:
Yesterday, President Obama gave a speech broadly laying out the steps that his Administration envisions for further stimulating the economy, putting Americans back to work, and getting businesses hiring again.
Economic reports show that U.S. factory orders unexpectedly rose in the month of October, according to the Associate Press. Economists worry that economic recovery could be hindered by a continued increase in unemployment rates and decrease in disposable income.