    [House Hearing, 117 Congress]
    [From the U.S. Government Publishing Office]

                       U.S. EFFORTS TO SUPPORT EUROPEAN ENERGY
                                      SECURITY

    =======================================================================

                                    HEARING

                                   BEFORE THE

                        SUBCOMMITTEE ON EUROPE, ENERGY, THE
                                ENVIRONMENT AND CYBER

                                     OF THE

                          COMMITTEE ON FOREIGN AFFAIRS
                            HOUSE OF REPRESENTATIVES

                        ONE HUNDRED SEVENTEENTH CONGRESS

                                 SECOND SESSION

                                   __________

                                 JUNE 16, 2022

                                   __________

                               Serial No. 117-122

                                   __________

            Printed for the use of the Committee on Foreign Affairs

    [GRAPHIC NOT AVAILABLE IN TIFF FORMAT]

           Available:  http://www.foreignaffairs.house.gov/, http://
                                docs.house.gov,
                           or http://www.govinfo.gov

                                   __________

                        U.S. GOVERNMENT PUBLISHING OFFICE
    48-367                       WASHINGTON : 2023

    -----------------------------------------------------------------------------------

                          COMMITTEE ON FOREIGN AFFAIRS

                      GREGORY W. MEEKS, New York, Chairman

    BRAD SHERMAN, California              MICHAEL T. McCAUL, Texas, Ranking
    ALBIO SIRES, New Jersey                  Member
    GERALD E. CONNOLLY, Virginia	      CHRISTOPHER H. SMITH, New Jersey
    THEODORE E. DEUTCH, Florida	      STEVE CHABOT, Ohio
    KAREN BASS, California		      SCOTT PERRY, Pennsylvania
    WILLIAM KEATING, Massachusetts	      DARRELL ISSA, California
    DAVID CICILLINE, Rhode Island	      ADAM KINZINGER, Illinois
    AMI BERA, California		      LEE ZELDIN, New York
    JOAQUIN CASTRO, Texas	              ANN WAGNER, Missouri
    DINA TITUS, Nevada		      BRIAN MAST, Florida
    TED LIEU, California		      BRIAN FITZPATRICK, Pennsylvania
    SUSAN WILD, Pennsylvania	      KEN BUCK, Colorado
    DEAN PHILLIPS, Minnesota	      TIM BURCHETT, Tennessee
    ILHAN OMAR, Minnesota		      MARK GREEN, Tennessee
    COLIN ALLRED, Texas		      ANDY BARR, Kentucky
    ANDY LEVIN, Michigan		      GREG STEUBE, Florida
    ABIGAIL SPANBERGER, Virginia	      DAN MEUSER, Pennsylvania
    CHRISSY HOULAHAN, Pennsylvania	      AUGUST PFLUGER, Texas
    TOM MALINOWSKI, New Jersey	      PETER MEIJER, Michigan
    ANDY KIM, New Jersey	              NICOLE MALLIOTAKIS, New York
    SARA JACOBS, California		      RONNY JACKSON, Texas
    KATHY MANNING, North Carolina	      YOUNG KIM, California
    JIM COSTA, California		      MARIA ELVIRA SALAZAR, Florida
    JUAN VARGAS, California		      JOE WILSON, South Carolina
    VICENTE GONZALEZ, Texas
    BRAD SCHNEIDER, Illinois

                        Sophia Lafargue, Staff Director
                   Brendan Shields, Republican Staff Director

                                    ------

            Subcommittee on Europe, Energy,the Environment and Cyber

                  WILLIAM R. KEATING, Massachusetts, Chairman

    SUSAN WILD, Pennsylvania             BRIAN FITZPATRICK,
    ABIGAIL SPANBERGER, Virginia             Pennsylvania,Ranking Member
    ALBIO SIRES, New Jersey		     ANN WAGNER, Missouri
    THEODORE DEUTCH, Florida	     ADAM KINZINGER, Illinois,
    DAVID CICILLINE, Rhode Island	     BRIAN MAST, Florida
    DINA TITUS, Nevada		     DAN MEUSER, Pennsylvania
    DEAN PHILLIPS, Minnesota	     AUGUST PFLUGER, Texas
    JIM COSTA, California		     NICOLE MALLIOTAKIS, New York
    VICENTE GONZALEZ, Texas	             PETER MEIJER, Michigan
    BRAD SCHNEIDER, Illinois

                          Leah Nodvin, Staff Director

                               C O N T E N T S

                                  ----------
                                                                       Page

                                   WITNESSES

    Light, The Honorable Dr. Andrew, Assistant Secretary of Energy
      for International Affairs, U.S. Department of Energy...........     7
    Kamian, Harry, Senior Bureau Official and Principal Deputy
      Assistant Secretary, Bureauof Energy Resources, U.S. Department
      of State.......................................................    15
    Levine, Jake, Chief Climate Officer, U.S. International
      Development Finance Corporation................................    21

                                    APPENDIX

    Hearing Notice...................................................    54
    Hearing Minutes..................................................    55
    Hearing Attendance...............................................    56

                U.S. EFFORTS TO SUPPORT EUROPEAN ENERGY SECURITY

                            Thursday, June 16, 2022

                              House of Representatives,
                    Subcommittee on Europe, Energy, the
                                 Environment and Cyber,
                          Committee on Foreign Affairs,
                                                        Washington, DC.

        The subcommittee met, pursuant to notice, at 9:04 a.m., via
    Webex, Hon. William Keating (chairman of the subcommittee)
    presiding.
        Mr. Keating. The hearing will now come to order.
        The House Foreign Affairs Subcommittee will come to order.
        Without objection, the chair is authorized to declare a
    recess of the committee at any point and all members will have
    5 days to submit statements, extraneous materials, and
    questions for the record, subject to the length limitation of
    the rules.
        To insert something into the record, please have your staff
    email the previously mentioned address or contact full
    committee staff, and please keep your video function on at all
    times even when you're not recognized by the chair.
        Members are responsible for muting and unmuting themselves.
    Please remember to mute yourself after you're finished
    speaking.
        Consistent with the House rules, staff will only mute
    members and witnesses as appropriate when they're not under
    recognition to eliminate background noise.
        I see that we have a quorum present virtually and myself in
    person, and I'll now recognize myself for opening remarks.
        We are here at a very important time on a very important
    issue. It's one of that could be viewed as a three-legged
    stool. We are dealing with our security issues as well as
    global security issues, economic prosperity issues, as well as
    important climate change issues.
        Energy is the lifeblood of our globalized and
    interconnected world. Our homes, cars, and our critical
    infrastructure, the most basic of our everyday necessities, all
    require some form of energy.
        Since the Industrial Revolution, we have seen the obvious
    and clear benefits of harnessing this energy to buildup our
    infrastructure, invest in our communities, and ensure a high
    standard of living for the American people.
        On the foundation of our energy resources, the U.S. and
    Europe have built a booming transatlantic economy, bringing
    immense prosperity and opportunity to all our shared citizens.
        Unfortunately, just as the benefits of an energized world
    have fostered innovation, it's become abundantly clear that
    fossil fuels providing much of our energy resources are warming
    our climate and destroying the world we live in.
        Our military leaders, civilian leaders, and business
    leaders are clear. Fossil fuels and climate change pose an
    existential crisis that threatens the United States' national
    security.
        Across the globe as well we have seen some energy-producing
    companies wield their resources to establish malign influence
    over transit countries in energy-importing nations.
        Thankfully, we have what Russia and China cannot do here in
    the U.S. We have a transatlantic coalition aligned by values
    and actions in both the security and energy spheres to stand up
    to these malign influences and stand for the protection of
    democracy and the rule of law.
        Even before Russia's full-scale invasion of Ukraine on
    February 24th, 2022, the U.S. provided substantial support to
    our European allies and partners in diversifying their energy
    portfolios and securing their energy in all sectors and with an
    understanding that energy security and the transatlantic
    alliance is central for our national security and the security
    of our transatlantic partners.
        For example, during the 115th Congress, we provided the
    Development Finance Corporation with the authority to support
    energy diversification projects in Europe that would reduce
    Europe's dependency on Russian gas.
        Further, both the Biden and Trump Administrations have
    shown resounding support for the Three Seas Initiative.
    Finally, both before and after Russia's full-scale invasion of
    Ukraine, President Biden's Senior Advisor for Energy Security,
    Amos Hochstein, has traveled across the globe to partner with
    countries in the energy sector and work in conjunction with our
    climate commitments to set up American and European energy for
    the future.
        Now, in light of the full-scale invasion and the subsequent
    energy crisis, European nations, the EU, and the U.S. have to
    think critically not only about the long-term energy security
    but also about short-term supply and, thankfully, in lockstep
    with the United States, the transatlantic alliance has acted
    resolutely and with creativity and precision to support Ukraine
    in its fight for freedom, imposed punitive measures on Russia
    for its illegal invasion, and create short-and long-term energy
    solutions to shore up European energy sectors.
        At the national level, Germany made the significant
    decision to halt Nord Stream 2 pipeline freezing, a major
    avenue for Russian malign influence in the energy sector. Other
    countries, like Bulgaria and Poland, have refused to pay for
    Russian gas in rubles to further limit Russia's ability to
    export fossil fuels to the rest of the European continent.
        And at the EU level, an unprecedented six rounds of
    sanction patches have been announced and the EU has moved to
    ban imports of Russian coal and oil.
        While I understand the difficulties of a gas ban, I hope
    the EU can continue to eliminate its dependence on Russian gas
    as soon as possible.
        EU initiatives like REPowerEU and EU Energy Purchase
    Platform have also created proactive steps to ensure EU member
    countries are adequately supplied with energy before the cold
    winter months.
        These necessary steps to save energy, diversify energy
    supplies, and create a crucial framework for a renewable energy
    future continue.
        While action from the EU and its member States is
    necessary, continued support from the U.S. is essential if we
    aim to construct a world in which energy is secure and
    democratic values remain.
        To that end, the U.S. has aided Europe through our Task
    Force on Energy Security, the Biden Administration joint
    initiative with the European Commission to diversify LNG
    supplies in alignment with climate objectives, ultimately
    reducing reliance on Russia and demand for natural gas
    altogether.
        U.S. companies have pioneered technologies such as small
    modular nuclear reactors, including in Romania, which have the
    potential to provide immense amounts of energy with low
    emission levels.
        These initiatives, among others, will be discussed here
    today at this hearing. Both recognize both the diversity across
    the continent regarding energy portfolios but also the need to
    act together across the Atlantic to invest in long-term energy
    solutions that do not compromise our climate commitments.
        Given different jurisdictions, authorities, and financial
    tools to outline U.S. efforts to support European energy
    security from across the Administration, we have invited three
    witnesses from the executive branch to testify today who have
    been tasked to meet this challenge.
        I want to thank all of you for your participation in this
    hearing.
        In closing, let me be clear. Decreasing reliance on Russia
    in the short term and preparing for the new realities of
    climate and geopolitical changes in the long term will not be
    easy.
        But by standing strong with our transatlantic allies, we
    can face the future with an innovative lens to build long-
    lasting resilience, shaping a world prepared for climate and
    geopolitical challenges, and that is our ultimate goal.
        It's an ultimate necessity, and today's hearing, I hope,
    will shed light on pathways forward in dealing with this.
        I'll now turn and recognize the ranking member for his
    opening remarks.
        Mr. Fitzpatrick. Good morning. Thank you, Chairman Keating,
    for holding this hearing and to our witnesses for being here
    today.
        For quite some time now, Europe has struggled with their
    energy security and has predominantly relied on Russia as a
    primary energy source.
        Natural gas represents about one-fourth of the EU's energy
    mix and the EU is Russia's main gas export market.
    Specifically, in 2021, nearly 75 percent of Russia's pipeline
    exports went directly to the EU. Prior to the war in Ukraine,
    Russia was the top gas supplier for most countries in central,
    northeastern and southeastern Europe.
        Since the war on Ukraine began, EU countries have spent
    tens of billions of dollars on Russian fossil fuels. As a
    result of the war it has exacerbated an already widespread
    energy crisis in Europe at a time when soaring fuel prices and
    inflation have also been jeopardizing Europe's economic
    recovery post COVID-19.
        As the unjustified full-scale genocide that's occurring in
    Ukraine continues, Europe's energy dependence on Russia 100
    percent needs to change, and while the EU has banned Russia
    coal imports and Russian crude oil and petroleum products,
    there remains an exemption for Russian crude oil delivered via
    pipeline.
        This needs to change. An article released yesterday on
    Bloomberg Stated, quote, ``Russia is using gas as a weapon
    again, sending gas prices to new highs with the objective to
    limit Europe's capacity to fill its storage levels,'' end
    quote.
        There must be more that is done to ensure that Europe does
    not have to succumb to Russia's bait when it comes to finding
    an energy source. For decades, the U.S. has worked with our
    European partners to encourage diversification of supplies,
    diversification of import routes, and diversification of fuel
    mixes, as well as exerted pressure against projects that
    contradict these goals, such as Nord Stream 2 and TurkStream.
        I look forward to hearing from our witnesses on how the
    U.S. plans to once again work with our EU allies and ensuring
    that they do not have to rely on Russian energy sources,
    especially amidst this violent attack on Ukraine. Every dime
    that is sent to Russia is a dime that's complicit in killing
    Ukrainians and continuing this genocide that must end now.
        Thank you, Mr. Chairman. I yield back.
        Mr. Keating. I thank you, Ranking Member.
        I'll now introduce our witnesses. Thank you again for being
    here, and without objection, your written statements, all of
    you--all three of your written statements will be a part of the
    record.
        And our first witness is Assistant Secretary Andrew Light,
    who is an assistant secretary of energy for international
    affairs at the U.S. Department of Energy.
        Assistant Secretary Light, you're now recognized for 5
    minutes.

        STATEMENT OF THE HONORABLE DR. ANDREW LIGHT, ASSISTANT
    SECRETARY OF ENERGY FOR INTERNATIONAL AFFAIRS, U.S. DEPARTMENT
                               OF ENERGY

        Mr. Light. Chairman Keating, Ranking Member Fitzpatrick,
    and members of the committee, it's, indeed, an honor to appear
    before you today to discuss energy security in Europe and the
    role of the U.S. Department of Energy and the larger U.S.
    Government in supporting development of infrastructure systems
    and policies in eastern and central Europe especially that will
    support a secure, sustainable, diversified European energy
    sector, which will make them more secure.
        I'm appearing before you all, as you well know, at a very
    troubling and disturbing time. In addition to the tremendous
    humanitarian consequences of Russia's war against Ukraine,
    Russia is also instigating an energy war, affecting countries
    throughout Europe.
        As a result, the U.S. Department of Energy, along with
    colleagues throughout the government, are redoubling our
    efforts to bolster European energy security and accelerate
    regional and global net-zero energy transitions.
        The energy war has also, clearly, hit home. Vladimir
    Putin's actions have sent oil markets reeling, raising the
    price of gas at the pump, underscoring the need for the U.S.
    Government to work with our European allies to find affordable
    and diversified global energy solutions that will secure a
    clean energy future.
        Stated bluntly, this conflict starkly reinforces the
    national security importance of our energy investments, for
    energy transitions, and those of our allies.
        We're working to support Europe's energy security in three
    ways.
        First, accelerating the transition to energy sources that
    are not susceptible to foreign manipulation. This includes
    supporting Ukraine's desynchronization with the Russian energy
    grid and integration into the European electricity grid, where
    it could eventually export clean nuclear and renewable energy
    to all of Europe.
        Second, replacing Europe's natural gas volumes without
    creating global market instability, and third, facilitating
    multinational and public-private collaboration in energy
    innovation to multiply the options available for
    diversification and decarbonization of energy supply.
        Any discussion on European energy security today must
    include Ukraine. Ukraine's nuclear power generation capacity
    alone could reduce Europe's dependence on Russian coal and gas
    once Ukraine is able to export electricity to Europe.
        To help facilitate this, the Department of Energy is using
    emergency appropriations to support Ukraine's full integration
    into Europe's electricity grid with a focus on cybersecurity
    support for Ukraine's electric grid sector.
        Part of the focus on cyber and physical security will help
    ensure Ukraine's connections to the grid remains reliable and
    stable.
        We're in the process of transferring $10 million now to our
    national labs with deep expertise on cyber and physical energy
    infrastructure security, and despite the ongoing war we expect
    their work will soon commence in earnest.
        Looking beyond just Ukraine, we need to provide near-term
    support to our European allies, as the chairman and the ranking
    member said at the top, to ensure that they're able to
    withstand more potential shutdowns from Russia and have the
    resources to make it through the upcoming winter.
        U.S. LNG is a key part of the near-term solution and we are
    also working bilaterally and with the European Commission to
    help Europe secure more natural gas from other sources.
        In the longer term but starting immediately we need to
    support efforts to diversify and decarbonize Europe's energy
    sector in a way that will permanently reduce its dependence on
    Russia and set it on a path to a clean, secure, and affordable
    energy future.
        To this end, we have bilateral and multilateral
    partnerships with several European countries that include
    research collaborations on hydrogen, offshore wind, and other
    innovative energy solutions.
        In my remaining time, I want to highlight just one such
    tool we have for achieving these longer-term goals, the
    Partnership for Transatlantic Energy and Climate Cooperation,
    or P-TECC. It is, indeed, the very embodiment of the
    transatlantic coalition that the chairman mentioned at the top
    in his remarks.
        The previous Administration created this platform as a tool
    for the Department of Energy to provide technical, policy, and
    commercial support to 24 countries in eastern and central
    Europe, both in and outside of the European Union, to integrate
    and modernize their energy sectors.
        In September 2021 in Warsaw, Secretary Granholm relaunched
    P-TECC with climate action and energy security as
    interdependent mutually reinforcing goals with unanimous
    support of all of our 24 partner countries.
        Today, we're using this initiative to help our European
    allies with both their diversification and decarbonization
    objectives with work streams focusing on regional cybersecurity
    of electricity and grids, deployment of commercial nuclear
    energy to provide clean baseload power, investment in renewable
    energy and efficiency measures, and to catalyze regional net-
    zero work.
        As you know, next week leaders of the 12 central and
    eastern European EU member States will gather in Riga, Latvia,
    to attend the Three Seas Initiative Summit.
        This summit was the impetus behind the creation of the
    Partnership for Transatlantic Energy and Climate Cooperation,
    and my department is fully supportive of its broad goals.
        In short, we are pursuing--pushing to achieve short and
    long term solutions for European energy security that will
    ensure a diverse, clean, affordable energy future for ourselves
    and our allies.
        I look forward to your questions.
        [The prepared statement of Mr. Light:]

        [GRAPHICS NOT AVAILABLE IN TIFF FORMAT]

        Mr. Keating. Thank you very much.
        Our second witness, Harry Kamian--is that correct?
        Are we connected?
        Mr. Kamian. We are.
        Mr. Keating. Thank you. I just want to be sure.
        Is the Senior Bureau Official and Principal Deputy
    Assistant Secretary of the Bureau of Energy Resources at the
    U.S. Department of State.
        You're now recognized for 5 minutes for your opening
    statement. Thank you for your participation.

    STATEMENT OF HARRY KAMIAN, SENIOR BUREAU OFFICIAL AND PRINCIPAL
     DEPUTY ASSISTANT SECRETARY, BUREAU OF ENERGY RESOURCES, U.S.
                          DEPARTMENT OF STATE

        Mr. Kamian. Chairman Keating, Ranking Member Fitzpatrick,
    and members of the Subcommittee, thank you for the opportunity
    to discuss the Administration's efforts to support Europe's
    energy security.
        I'm joining you today from Paris at the conclusion of an
    International Energy Agency governing board meeting where under
    joint State Department and Department of Energy leadership the
    IEA voted unanimously for Ukraine to join the IEA family,
    another signal of the Administration's unwavering commitment to
    supporting Ukraine in the face of Putin's brutal war.
        Putin's unprovoked war on Ukraine has caused a major shift
    in Europe's approach to its energy security and has upended the
    world's energy map. It has made clear the dangers of over
    reliance on a single supplier, particularly one who uses energy
    as a tool of coercion.
        It underscores that the clean energy transition strengthens
    our energy and our climate security. The United States and
    Europe are now united in our determination to stand up to
    Russia to ensure Europe's energy security and to accelerate the
    clean energy transition.
        The United States is leveraging multilateral diplomacy to
    address global oil shortfalls and to assist European countries
    in finding alternative supplies. This will take time.
        In 2021, Russia provide approximately 45 percent of the
    EU's total natural gas imports and 27 percent of oil imports.
    Putin's war and subsequent natural gas cutoffs to Poland,
    Bulgaria, Finland, the Netherlands, and others have destroyed
    the illusion that Russia is a reliable supplier of energy.
        The EU's announcement in March that its REPowerEU claims to
    cut dependence on Russian natural gas by more than half by the
    end of 2022, and to achieve independence from Russian fossil
    fuels by 2027, was an important signal.
        As early as last fall, we warned that Russia was
    deliberately preparing to leave Europe with extremely low
    levels of natural gas and storage for the winter.
        The United States engaged major natural gas producers
    worldwide to understand their capacity and their willingness to
    surge output and allocate these volumes to European buyers.
        This produced tangible successes, including allies like
    Japan and Korea agreeing to redirect LNG cargoes to Europe.
    President Biden's March 25th announcement with European
    Commission President von der Leyen establishing a Joint Task
    Force on European Energy Security further illustrates close
    transatlantic cooperation.
        Through the Task Force, we committed to help Europe attract
    15 billion cubic meters of additional natural gas supplies by
    the end of this year. We committed to working with EU member
    States toward ensuring demand for approximately 50 bcm a year
    of additional LNG supplies until at least 2030, and Europe
    agreed to fast track regulatory approvals for LNG
    infrastructure and to identify demand sources to spur
    investments.
        But as the chairman said, increasing LNG to Europe cannot
    fully resolve European dependence on Russian energy. We are
    collaborating with Europe with clean and renewable energy
    technology providers to help reduce overall demand, including
    U.S. companies.
        We can reduce demand by accelerating deployment of
    technologies such as heat pumps, smart thermostats, efficient
    grid technologies, energy efficiency and productivity
    improvements, battery storage, offshore wind, nuclear energy,
    and clean hydrogen.
        We were cooperating on these goals well before the onset of
    Putin's war. We are all seeing and feeling the impacts of high
    energy prices due to Putin's war of choice against Ukraine.
        In March and April, the United States and the IEA announced
    collective releases from the Strategic Petroleum Reserve and IE
    member reserves. Together with United States commitment, these
    releases add 240 million barrels to global supply. It is both
    the largest release from the United States and the largest
    release from other IEA countries in history and will support
    American consumers and the global economy.
        These actions result from the Administration's unwavering
    focus on doing everything in our power to help American
    families who are paying more out of pocket for gasoline as a
    result of Putin's war.
        Strengthening Europe's energy security is a high priority
    for the Biden Administration. Together, with our partners and
    allies, we will accelerate Europe's independence from Russian
    fossil fuels and bolster energy security in line with our
    shared climate and energy access goals.
        Thank you very much. I look forward to addressing your
    questions.
        [The prepared statement of Mr. Kamian:]

        [GRAPHICS NOT AVAILABLE IN TIFF FORMAT]

        Mr. Keating. Thank you, Mr. Kamian.
        Our next witness, Mr. Jake Levine, is the chief climate
    officer at the U.S. International Development Finance
    Corporation.
        You are now recognized for 5 minutes for your opening
    statement. Thank you for your participation.

         STATEMENT OF JAKE LEVINE, CHIEF CLIMATE OFFICER, U.S.
             INTERNATIONAL DEVELOPMENT FINANCE CORPORATION

        Mr. Levine. Chairman Keating, Ranking Member Fitzpatrick,
    and distinguished members of the committee, thank you for
    inviting me to testify today on the Development Finance
    Corporation's role to support European energy security.
        DFC has a mandate under the BUILD Act to invest in
    transactions that advance development and the strategic
    interests of the United States.
        The subject of today's hearing is additionally central to
    our special responsibilities under the European Energy Security
    and Diversification Act.
        In line with those authorities, we are working to expand a
    portfolio of projects that can accelerate Europe's pathway
    toward energy security.
        Several of us have recently returned from the region, and
    next week DFC will lead the U.S. delegation to the Three Seas
    Summit in Riga to reinforce DFC's readiness to provide
    investment.
        In Ukraine itself DFC has a current investment portfolio of
    approximately $800 million across more than a dozen projects,
    including in renewables and nuclear fuel.
        We are evaluating new opportunities there and have offered
    flexibilities to existing projects to make sure they can
    weather this war.
        When it comes time to rebuild, DFC will be there again.
    Russia's unjustified war in Ukraine has permanently changed the
    energy landscape, particularly with respect to the near term
    delivery of oil and gas for heating this winter.
        At the same time, it has opened a critical window of
    opportunity to accelerate Europe's pathway to energy
    independence. Russia's weaponization of its energy resources
    has united the U.S. and Europe in a common effort to diversify
    European sources of energy and it is a wake up call.
        There can be no louder signal to underscore the need and
    the opportunity this moment offers to reduce dependence on the
    oil and gas resources that have allowed Russia to coerce its
    neighbors and to finance its war machine.
        President Biden has outlined a two-pronged approach to help
    secure Europe's energy: diversifying energy resources away from
    Russia and providers and supporting Europe's commitment to move
    away from fossil fuel dependence altogether.
        The U.S. is working to unleash an arsenal of energy
    resources in service of both, and DFC has a key role to support
    that in at least three ways.
        First, we are working to help Europe to pivot away from
    Russian sources of energy. DFC is actively advancing
    discussions to provide insurance for gas replacement contracts
    that can help small countries completely phaseout of Russian
    gas.
        We are in discussions to finance a gas pricing strategy
    that would facilitate purchases of U.S. LNG to replace Russian
    gas.
        Second, we are accelerating our work to help Europe deploy
    the massive amounts of clean energy, energy efficiency, and
    electrification required to fully move away from fossil fuels.
        The untapped savings available through smart thermostats,
    heat pumps, solar, wind, and storage projects in the near term
    represent, roughly, a third of all Russia's exports of natural
    gas to the EU.
        As part of this support, we are also exploring ways we can
    engage in civil nuclear cooperation, such as the recent LOI we
    signed with NuScale for its Romania SMR project.
        Third, we believe Ukraine and Eastern Europe are not just
    places in need of strategic investment from the West but can
    become hubs of energy security for the West.
        To that end, we are identifying opportunities for East-West
    cohesion that can connect the energy grids from Ukraine,
    Bulgaria, and Romania to serve Poland, the Western Balkans, and
    places to the west.
        Europe will invest more than $200 billion between now and
    2027 to phaseout Russian fossil fuel imports, but the total
    financing costs to achieve energy independence are
    significantly greater and, therefore, private investment must
    also be a core component of our strategy.
        That is where DFC can come in with critical financing and
    derisking mechanisms to help crowd in private finance and help
    Europe secure the investment it needs.
        Some of our tools were designed for this precise purpose.
    DFC's political risk insurance dates to the Marshall Plan, when
    the United States brought public financing tools to bear in a
    post-war market hesitant to support Europe.
        There is no more urgent challenge in energy security than
    this one. But in this remarkable time of unity and partnership
    among our European allies, our determination to defend
    principles of sovereignty and democracy is stronger than at any
    time in recent memory and DFC is resolute in its work to help
    set a trajectory for energy independence and for peace.
        Thank you again, and I look forward to your questions.
        [The prepared statement of Mr. Levine:]

        [GRAPHICS NOT AVAILABLE IN TIFF FORMAT]

        Mr. Keating. Thank you, Mr. Levine.
        I think our witnesses really laid out what we can do in the
    short and the medium and the long term. These issues were in
    place before. They were worked on and recognized before. But
    the action on going forward was more deliberate than, I think,
    even our European allies would recognize.
        So this is the prompting--the 5 minutes I recognize myself
    for some questions.
        I'd like to, first, just get back.
        Mr. Kamian, you mentioned the fact that the shortages from
    Russia were premeditated--my word--ahead of time. This was--
    this shows the premeditation of Putin before February 24th. It
    was part of a plan to weaponizing and the leveraging of oil.
        I wonder if any of our witnesses could comment on the fact
    that, indeed, Putin's actions before were a precursor to what
    his plans were in invading Ukraine and continuing to use as
    weapons the energy supply that's coming out of Russia.
        Mr. Light?
        Mr. Light. Sure. I couldn't agree more, Chairman, in that
    statement. I think that if this were a chess game, then this
    was at least a seven-move play by Vladimir Putin.
        I mean, he was setting things up with respect to the
    reliance of the Europeans on single source, the--a very sort of
    meticulous--I do not know, charade, of convincing some
    countries that he was--in fact, he would never turn off supply
    under any circumstances, and was able to do things like, well,
    if there was a shortage he would offset it with payments of
    money or something like that.
        But, interestingly enough, the Ukrainians really saw
    through this because they've been through it, and I was very
    honored to this day to have been at the--President Zelenskyy
    called--what we called the Crimea Forum last August. I went
    there with Secretary Granholm as President Biden's designee for
    the Presidential delegation.
        Europeans were quite clear to the other Europeans who came
    to the Crimea Forum, which was also the thirtieth anniversary
    of Ukrainian independence, that they went after us, they're
    going to go after you next, and if they go after us militarily,
    you can be sure that anything you want to try to do to try to
    push back on the Russians you will get retaliated against and
    that's exactly what we're seeing happen.
        So the very high prices that we saw through the fall there
    was, clearly, manipulation going on there, which created a
    crisis well before February, and so what we're now trying to
    do, I think, is to catch up with respect to what we can do to
    increasingly diversify.
        The only good news here is that the Europeans have
    completely woken up as a community. They are synced up. They're
    working, clearly, with us to try to respond to diversification
    and get them out of Russian fossil energy.
        Mr. Keating. Yes, I agree.
        I mean, I've visited five European countries just in the
    last several weeks and energy issues are central to what's
    going on, and if you're looking at the many miscalculations of
    Putin, I think his miscalculation on the energy front will
    prove one of the greatest miscalculations he had.
        You know, his actions really lit the fuse of response that
    wasn't there and I think we're in an era of a Marshall energy
    plan right now with the U.S. and our allies working together--
    an historic economic and energy transformation, and we're
    seeing it and we're seeing it at a pace I never thought might
    occur.
        But as we drill down a little bit more to Ukraine
    individually and the pressure they're under, one of the
    countries I visited also in, you know, Putin's target sphere is
    Moldova, and their energy dependence, as is the case in so many
    other countries, is extreme with Russia.
        One of the things they mentioned was as we give economic
    aid to Ukraine, a win-win situation might be to allow them to
    tap into the Ukraine grid, which they have the ability to do.
        But also because the price differential between cheaper
    Russian or energy going through Transnistria and the other
    price, the U.S. could help maybe bridge that cap, and then have
    them gain a greater independence from Russia and help Ukraine's
    economy at the same time.
        Do you want to comment on that proposal at all--that idea?
    Anyone?
        Mr. Light. I'm happy to say something about it and also
    would love to hear any thoughts from my colleague, Harry
    Kamian, at the State Department.
        I've been talking to our Ambassador there in Moldova. I've
    been talking to my colleagues at the State Department on this.
    I think you're absolutely right, and my office has been working
    earnestly to sort of see what we can do to encourage the sale
    of power from Ukraine to Moldova.
        And the trick here is going to be to do it at the same rate
    that Moldova is getting from Transnistria right now. And so
    while we wait for really opening up the ability for Ukraine to
    sell their power to the rest of Europe, which they not yet are
    able to do--there's an emergency connection with the European
    grid but it's not yet a full connection.
        That's something my office has been working on to stabilize
    and make sure that that full connection happens so Ukraine can
    sell to Poland, to, you know, Czech Republic, to other
    countries in the region.
        Moldova is right there. It's in need. It really would help
    a lot, would help them to get off of--out of a tricky political
    situation, which is a subset of the larger political situation
    the entire region is under right now.
        Mr. Keating. Thank you.
        I now recognize Representative Ann Wagner, a former
    European ambassador, for 5 minutes of questioning.
        Mrs. Wagner. I thank you, Mr. Chairman.
        This is a very critical and timely hearing, and I want to
    thank our witnesses for their service.
        As the chairman mentioned a few weeks ago, I, too, traveled
    with a bipartisan group of Foreign Affairs Committee members
    including our chairman, Chairman Keating, of the subcommittee
    to Moldova, to Switzerland, to the Czech Republic, and to
    Austria and at every single opportunity we urged our European
    allies and partners to end their dangerous dependence on
    Russian energy.
        I was so gratified to learn that shortly after our return
    the EU reached an agreement to cut 90 percent of Russian oil
    imports by the end of this year.
        This represents important progress, but we, obviously, need
    to do more. Russia's natural gas market dominance is a critical
    vulnerability for Europe, and just yesterday Russia further
    slashed natural gas shipments to Europe, increasing gas prices
    by more than 25 percent.
        In order to deny Russia a key source of revenue and
    insulate our transatlantic allies once and for all from Russian
    energy coercion, the Biden Administration must stop
    discouraging new domestic production here in America and
    accelerate our efforts to connect Europe with new energy
    sources.
        To delay or hamstring these objectives in the interest of
    preserving radical climate policies would be misguided and, I
    believe, extremely risky.
        As we discussed during our time in Kishinev, Moldova
    remains, as we said, overwhelmingly dependent on Russian
    energy. It receives nearly all its gas supplies from Russian-
    owned Gazprom and buys 80 percent of its electricity from the
    Russian-owned MGRES power plant in that breakaway region of
    Transnistria.
        USAID recently awarded $17 million to reduce core
    vulnerabilities of Moldova's energy sector.
        Deputy Secretary--pardon me, Deputy Assistant Secretary
    Kamian, can you provide details on what this program aims to
    achieve and on what time line, please?
        Mr. Kamian. Congresswoman, thank you very much for the
    question. At this moment, I do not have details regarding the
    specific USAID plan but I know the initiative that our
    colleagues--and I'd be happy to get back to you with more
    details on that--but I know the initiative that they have
    launched as part of the Administration's broader effort as part
    of a $100 million package to help Moldova strengthen its
    economy, but also diversify over the long run.
        As you and the chairman noted, nearly 100 percent of their
    energy resources come from Russia. It puts them in a fairly
    precarious situation.
        In light of the recent Russian invasion of Ukraine we know
    our Moldovan colleagues are genuinely concerned, and as my
    colleague, Assistant Secretary Light, noted, we are working
    very closely with the Department of Energy and other colleagues
    within the Administration to identify ways in which we can help
    Moldova strengthen its resiliency, protect itself in the short
    run, but also help it take the steps to connect with the
    broader European grid that will, hopefully, help----
        Mrs. Wagner. Thank you.
        I have limited time here and I really do want to also
    emphasize what the chairman mentioned, which is helping Moldova
    with price negotiations, I think, would be very key, too.
        Some in Europe have conveyed that the use of chemical--a
    chemical weapon by Russia would push their governments to
    support a ban--full on ban on the import of Russian gas.
        Deputy Assistant Secretary Kamian, have you had similar
    conversations, I'm wondering, and why does it make sense to
    wait for another atrocity to take this step?
        Mr. Kamian. One of the challenges facing our European
    allies and partners, as you've noted, based on your recent trip
    to the region, is that for so long so many of them have been so
    dependent on Russian energy, and while they've reached a point
    now where there's broad consensus across the region that they
    need to reduce the dependence and diversify away from Russia,
    it's complicated.
        It's difficult, and many of their economies still rely on
    Russian energy to fuel the recovery from the pandemic, to
    provide their basic heating and necessities and to come out of
    a difficult era.
        And so I think what we're seeing from our European allies
    is awakening across the region, a steadfast commitment to never
    returning to the point of being reliant upon Russia.
        But it's going to take some time, and this is where the
    Administration is really committed to doing everything we can,
    whether it be the short-term surge in supplies of LNG to help
    them shore up supply, whether it be helping them fill up these
    gas storage levels that are going to be so critical to get them
    ready for the winter to ensure that our European allies and
    friends remain heated during this moment.
        But this is why we're really doubling down on the short-
    term surge at the same time as accelerating the efforts for the
    clean energy transition.
        Mrs. Wagner. Well, I thank you. My time has expired. I
    appreciate the indulgence of the chair.
        I have some other questions for Secretary--Assistant
    Secretary Light. I will submit them for the record, and I do
    hope we will not wait for another atrocity to really ensue upon
    a full ban of Russian oil, and we can unleash American energy
    independence that can be helpful, I believe, in the region long
    term.
        So I thank you very much. I yield back.
        Mr. Keating. The chair now recognizes Representative Brad
    Schneider for 5 minutes.
        Mr. Schneider. Thank you, Mr. Chairman, and thank you to
    our three witnesses today, not only for joining us today but
    for the incredible work you and your three agencies are doing.
        Mr. Levine, I'd like to talk about the DFC's role
    specifically in energy security, and I appreciated your mention
    of Bulgaria in your testimony. I look forward to coordinating
    on your work in the region.
        I recently met with the prime minister of Bulgaria on his
    visit here to Washington, and we discussed the vital importance
    of energy independence from Russia in Eastern Europe.
        He relayed to me and my team how critical the DSC can be in
    providing financing to support this mission, not just in
    Bulgaria but other countries as well, and just yesterday, I met
    with members of the German Bundestag where we discussed the
    challenging but necessary steps of cutting off Russian energy
    from the European economy.
        To that end, I appreciate what the DFC is doing to support
    the Three Seas fund and making full use of the authorities
    Congress provided to the DFC through the European Energy
    Security and Diversification Act.
        The situation in Ukraine has made the need for supporting
    the energy needs of the region so much more urgent.
        So with that in mind, can you give us a quick update on the
    steps DFC has taken and will take in the coming months to
    fulfill the mission of the European Energy Security and
    Diversification Act?
        Mr. Levine. Thank you, Congressman Schneider.
        Absolutely, and I appreciate the question. I've myself
    recently had the opportunity to visit also with the prime
    minister in Bulgaria, his energy secretary, and much of his
    team.
        I was in Sofia where we were able to help advance some of
    the projects that we're working on to really help Bulgaria to
    actually completely switch off of Russian gas.
        As you know, Bulgaria uses a relatively small amount of gas
    resources, 3 bcm of demand. But in a place like Bulgaria where
    the political coalition can be so fragile, being able to
    replace that gas when Gazprom has shut the door, and provide an
    alternative to Russian gas is totally essential to maintaining
    stability, not just there but in the region.
        It's a similar story in Moldova where we have had similarly
    productive conversations about how we can support that
    transition.
        And so not only does it provide an opportunity for us to
    fulfill our mandate under the Energy Security and
    Diversification Act, but I think that it provides a real
    opportunity to support key strategic allies, friends, and
    partners.
        One of the other things about the Bulgarian conversation
    that I found to be particularly encouraging was their focus on
    the transition to clean energy. They are working to implement
    as part of their allocation of the recovery and resilience fund
    that they received from the EU, a 6 billion euro energy storage
    project, which we are eager to support.
        We're working with some of our existing trusted American
    borrowers to accelerate efforts on wind and solar. There are
    district heating projects that are begging for energy
    efficiency upgrades that can provide the cheapest and most cost
    effective form of gas demand reduction, and it's a wealth of
    opportunities that we are excited to pursue.
        You mentioned the Three Seas Fund, and I just want to note
    that our CEO, Scott Nathan, who was before your full committee
    just a couple of days ago, will be traveling to head the U.S.
    delegation in Riga, where we are excited that he'll be able to
    announce the terms and the scale of our commitment to the Three
    Seas Fund.
        We see this as a critical platform to be able to invest
    across the region from all the way from the Baltic States down
    to southern and eastern southeastern Europe, and we really
    welcome the opportunity to work with you and your colleagues to
    identify projects that we can support through that fund or
    individually.
        Thank you so much.
        Mr. Schneider. Thank you, and I look forward to it, too.
        In that vein, are there other things Congress can do to
    support DFC's work, broadly, energy security in Eastern Europe
    but also in particular in the Balkans.
        Mr. Levine. Well, I really appreciate the question.
        As you know, we now have a Fiscal Year 1923 budget request
    before the Congress. We have made a request for administrative
    funding in the amount of $220 million.
        One of the biggest bottlenecks that DFC has in terms of
    getting this funding out the door is our ability to staff
    projects, not just on the finance side but in terms of legal
    and policy capacity inside the agency.
        We would like to get to get to 700 staffers at DFC to be
    able to accelerate this work and to expeditiously process it,
    and we would be very grateful for your support on that budget
    request.
        Mr. Schneider. Great. Thank you.
        And, Mr. Chairman, I'm out of time. We have so many more
    questions, working to achieve energy dependence from Russia,
    not just in the context of Ukraine but a long term strategy for
    Europe is critically important and I am grateful for you having
    this hearing.
        Mr. Keating. Thank you, Representative.
        The chair now recognizes Representative Mast for 5 minutes.
        Mr. Mast. Thank you, Chairman.
        I just want to start with something that you Stated
    already, Mr. Light, and that was that Russians were
    manipulating the market and increasing prices before the
    invasion, and why I think it's so important that you said that
    today is because let's all ask ourselves what was President
    Biden doing while this was going on and ahead of that going on?
        Well, he was cutting off U.S. pipelines and creating a
    difficult regulatory environment for made-in-America oil and
    gas. You guys are to blame. That is what you were doing and
    everybody should be pointing their fingers at you, which is
    exactly what I'm going to do.
        I do not have any questions for you. I do want to talk
    about Development Finance Corporation. I do have your budget
    request right here.
        What you're asking for from we the people, the American
    people, and I do have the EESDA in front of me right here. I
    want to go over a few parts of it, as I did with Mr. Nathan a
    couple of days ago, and want to know your opinion on these.
        Part of EESDA specifically says to facilitate international
    negotiations concerning cross-border infrastructure.
        Should I understand cross-border infrastructure as it
    relates to the energy in EESDA as pipelines?
        Mr. Light. Thank you for the question, Congressman.
        Mr. Mast. Is it pipelines?
        Mr. Light. As I think CEO Nathan mentioned in his
    testimony, cross-border infrastructure would include
    infrastructure for energy. That's our mandate under----
        Mr. Mast. Cross-border would be a pipeline. That's a
    pipeline that goes across the border, right?
        Mr. Light. Well, for example, in the energies--if you look
    at that project eligibility guidelines in the Act----
        Mr. Mast. Is it a pipeline, among other things?
        Mr. Light [continuing]. That is electricity transmissions--
    --
        Mr. Mast. Is it a pipeline, among other things?
        Mr. Light. Well, I think it could be.
        Mr. Mast. Are you against pipelines?
        Mr. Light. Well----
        Mr. Mast. Are you for pipelines?
        Mr. Light. The----
        Mr. Mast. Are you for pipelines?
        Mr. Light. The Act discusses----
        Mr. Mast. Let's go with that one. Are you for pipelines?
        Mr. Light. Congressman, I appreciate the question.
        Mr. Mast. Yes or no? For pipelines? Yes? No?
        Mr. Light. In my personal capacity, I have been really
    honored to have this opportunity to serve.
        Mr. Mast. I'm not worried about how honored you are. Are
    you for pipelines?
        Mr. Light. With respect, Congressman, my personal opinion
    is----
        Mr. Mast. This is what people hate about Washington, DC.
    It's a simple question. You're asking for money from the U.S.
    taxpayer to do cross-State infrastructure overseas as related
    to energy. Are you for pipelines or not?
        Mr. Light. I think that the Development Finance Corporation
    is interested in advancing any project that can deliver energy
    security for our allies and partners----
        Mr. Mast. It does say diversity on here--energy diversity--
    and it does say renewable and nonrenewable fuels. That's the
    EESDA. So are you for pipelines?
        Mr. Light. In the Act, the project eligibility allows----
        Mr. Mast. So you won't say for pipelines. It's yes or no.
        Mr. Light. Allows us to work on projects that can deliver
    electricity generating capacity using fossil or clean energy
    and we will advance----
        Mr. Mast. So you're for fossil fuel use? You are for the
    DFC----
        Mr. Light. The DFC will----
        Mr. Mast [continuing]. Creating a friendly regulatory
    environment----
        Mr. Keating. Please. If I could interject.
        Mr. Mast. No, you cannot. It's not your time.
        Mr. Keating. Yes, I can.
        Mr. Mast. No, you cannot. It's not your time.
        Mr. Keating. Yes, I can, sir.
        Mr. Mast. No, you cannot. You guys messed this all up. It's
    not your time. It's not your time.
        Mr. Keating. Sir, you'd like an argument, you can let me
    answer the questions. With all due respect----
        Mr. Mast. There is no respect taken.
        Mr. Keating. Evidently, there is no respect given.
        Mr. Mast. That's because you guys are marking up energy to
    our country----
        Mr. Keating. The chair recognizes the witness to answer the
    question that was posed to him.
        Mr. Mast. You guys are making oil and gas ridiculously
    expensive for Americans and you do not want to be questioned
    about it.
        Mr. Keating. Are you pleased you're getting the sound bite,
    sir? I'm not going to participate in it.
        Mr. Mast. The Biden Administration created the problem.
        Don't participate then. Close your mouth and let me ask my
    questions. Don't participate. Let me ask----
        Mr. Keating. Close my mouth, sir?
        Mr. Mast. Yes, you heard it directly. That's why you sound
    so offended because you heard what I said. So let's do that and
    let me finish asking my questions.
        Mr. Keating. Allow them to answer the question.
        Mr. Mast. If he wanted to answer the question he could.
    Let's get back to the questions that you do not want to answer.
    Do you support pipelines? We know that you do not.
        We talked about what Mr. Light said already, that the
    Russians were working to manipulate these markets ahead of the
    invasion into the Ukraine, and what was the Biden
    Administration doing? Absolutely nothing.
        They were cutting off pipelines here in the United States
    of America, creating a difficult regulatory environment for oil
    and gas exploration. You guys are to blame for this. You're
    interrupting me because you do not want Democrats to have to
    answer for what Democrats have been doing in the House of
    Representatives, what the Administration has been doing as it
    relates to energy, cutting off 25,000 jobs as it relates to the
    XL pipeline, 800,000 barrels a day of oil to the United States
    of America.
        You're willing to ask for money for the Development Finance
    Corporation, money from we the people in the United States of
    America to develop energy infrastructure overseas, reduce the
    regulatory environment for energy infrastructure to include
    fossil fuel usage overseas, but you'll cut it off here for made
    in America from sea to shining sea, and you guys are absolutely
    wrong because of it.
        Now you can have 2 seconds back.
        Mr. Levine. If I could, Mr. Chairman.
        Mr. Keating. You did say--did you say not that any
    alternative would be available in terms of the ANC and you do,
    given the fact you weren't allowed to answer the question the
    opportunity to answer the question.
        Mr. Mast. He was allowed. I offered him plenty of
    opportunities to answer. He did not want to answer. Very simple
    yes or no----
        Mr. Keating. Gentleman's time has expired.
        The witness shall give the opportunity to answer a
    question.
        Mr. Mast. I should get that time back that you took when
    you were interrupting me. Why do not we give that back?
        Mr. Keating. The gentleman will have the opportunity to
    answer the question.
        Mr. Mast. Not interested in that?
        All right. I guess that's too democratic.
        Mr. Levine. Thank you, Mr. Chairman, and thank you, sir,
    for your question.
        Mr. Keating. I'll ask all the panel members, please, give
    the decorum with the respect that this committee deserves and
    the respect that witnesses deserve, the respect that the public
    deserve.
        I will allow the gentleman to answer this question.
        Mr. Levine. Thank you, Mr. Chairman.
        I simply would like to just underscore that under the
    authority that DFC has from European Energy Security and
    Diversification Act, designed to help provide energy security
    to our allies, particularly of importance during this war time,
    we will pursue projects that can deliver energy security to
    Europe.
        In the project eligibility section of the Act--and I would
    encourage you to consult with that section, Mr. Mast--there is
    specific delineation of what types of projects may be eligible
    for DFC financing and there is discussion of electricity
    transmission infrastructure, there is discussion of energy
    storage, there is discussion of electricity generating
    capacity, yes, for both fossil fuels and clean energy.
        And I'm not aware of any specific eligibility for
    pipelines. Thank you.
        Mr. Keating. The chair recognizes Representative Meuser for
    5 minutes.
        Mr. Schneider. Mr. Chairman, I'm sorry. Did you call on me?
        Mr. Keating. No, Representative Meuser.
        Mr. Schneider. Sorry.
        Mr. Keating. The chair recognizes Representative Tenney for
    5 minutes.
        [No response.]
        Mr. Keating. The chair recognizes, and I know he's here,
    Representative Pfluger for 5 minutes.
        Mr. Pfluger. Assistant Secretary Light, I just returned
    from Asia. Returned from Europe. Everybody's asking for LNG.
    And my question for you is why has the Department of Energy not
    approved the ECA Phase Two on the Vista Pacific LNG permits on
    the West Coast to ship more American made energy?
        Mr. Light. Thanks for the question.
        Mr. Pfluger. I've got about 75 more questions.
        Mr. Light. OK. I'll be very brief. Thanks very much for the
    question.
        The department is currently undergoing review of those
    through our department of fossil energy and carbon management.
    I cannot speak to that review right now.
        We have already approved the majority of the product that
    would flow through.
        Mr. Pfluger. These two specifically?
        Mr. Light. Those two specific ones. Yes, absolutely. I
    cannot comment on an ongoing process, but it's definitely
    something that we're working on.
        Mr. Pfluger. OK. Ambassador or Assistant Secretary, did you
    push for sanctions on the Ukraine on Nord Stream during the
    buildup to the Ukrainian conflict? Did you push for full
    sanctions on the Nord Stream project?
        Mr. Light. Personally or the department?
        Mr. Pfluger. Yes, you personally.
        Mr. Light. So the Department of Energy does not handle
    sanctions packages.
        Mr. Pfluger. Did you recommend to the president of the
    United States through your channels to push for further
    sanctions?
        Mr. Light. I am not involved in those discussions on
    sanctions.
        Mr. Pfluger. OK. As an expert on energy, do you believe
    that we should have fully sanctioned the Nord Stream project
    prior to the Ukrainian conflict?
        Mr. Light. I believe that's a question for the White House,
    sir. I'm really not an expert on sanctioning so I cannot--I do
    not know the dynamics of which sanctions work and which
    sanctions do not.
        I'm happy to discuss them.
        Mr. Pfluger. Does the Department of Energy agree that we
    need to increase domestic production here in order to meet the
    demands not only of our domestic requirements but also that of
    our partners and allies around the world?
        Mr. Light. Absolutely. Yes.
        Mr. Pfluger. OK. So will the department approve the massive
    amounts of permits that are waiting and have been waiting, like
    ECA Phase Two, to get the production moving in the right
    direction?
        Mr. Light. I'm not aware of any natural--LNG export permits
    awaiting approval except for the----
        Mr. Pfluger. There are many. We will make your office aware
    of them. It's disappointing to hear that you're not aware of
    them.
        Do you agree with Envoy Kerry when he said that renewable
    power does not have the capacity to provide baseload?
        Mr. Light. I do not know that Secretary Kerry said that.
        Mr. Pfluger. He said it in this hearing room.
        Mr. Light. He said that renewable power cannot provide
    baseload power. Nuclear power, certainly, can provide baseload
    power and we are----
        Mr. Pfluger. Do you agree that renewable power cannot
    provide baseload capacity?
        Mr. Light. Renewable power plus battery storage can provide
    baseload power, and that's really the solutions that we're
    looking for for Europe specifically.
        Mr. Pfluger. So renewable power can provide baseload
    capacity?
        Mr. Light. With battery storage. With utility scale battery
    storage, yes.
        Mr. Pfluger. Is it the policy of the Department of Energy
    to accept the fact that there could be rolling blackouts
    throughout the United States?
        Mr. Light. We would not accept as good rolling blackouts in
    the United States. The Department of Energy will do everything
    in our power to make sure that that does not happen.
        Mr. Pfluger. That's good to hear. One thing that I heard
    you say was with regards to the EU that we are going to help
    them with a diverse and clean and affordable plan.
        `
        You left out reliable. Do you believe in reliability?
        Mr. Light. Absolutely. That's one of the reasons that my
    office was one of the biggest champions of nuclear energy in
    the region.
        Mr. Pfluger. You know, the thing that strikes me right now
    is that we're talking about this war on energy, the
    manipulation by the Russian government.
        In fact, the war on energy is right here. It's domestic
    policy. The assault on domestic energy is real and it's coming
    from the Biden Administration. Your policies--and I think it
    was pointed that you left out reliability in your testimony
    here today.
        Mr. Levine, how much additional capacity does the United
    States have with regards to LNG to actually ship to Europe,
    Asia, partners and allies that are requesting it right now?
        We have committed to 15 bcm to Europe. How much do we
    actually have?
        Mr. Levine. I believe that's correct. You know, as you
    know, DFC is focused on overseas projects. So we're not--we do
    not focus on U.S. capacity.
        Mr. Pfluger. Right. But you've spoken with great authority
    on the ability to ship what we need to Europe. So how much
    additional capacity do we have here domestically?
        Mr. Levine. When DFC receives a commercially viable
    application for a project from an allied partner nation in
    eastern Europe to help provide U.S. LNG, we can support that
    project.
        Mr. Pfluger. Do you know how much LNG is included in the
    Three Seas Initiative that will be rolled out and led by your
    CEO?
        Mr. Levine. Well, I know that there are several LNG
    projects that are under consideration by the Three Seas
    management team.
        Mr. Pfluger. Do you know where they are?
        Mr. Levine. I know that some of them include projects in
    the Baltic Seas and I believe that there are some projects for
    LNG import terminals in southeastern Europe as well.
        Mr. Pfluger. It's good to know.
        When I asked the CEO the same question he had no idea how
    much LNG was part of the DFC. But you said he's going to lead
    the envoy to Europe and make a big announcement.
        So it's very disappointing that the CEO does not know the
    details. I appreciate the fact that you've just told me that it
    will be included in the Baltic and in southern Europe.
        The war and the assault on American energy is real and it
    is also a limiting factor to provide energy security for our
    country as well as our partners and allies, and this pie in the
    sky plan is not going to work.
        If we do not look at the actual reality of what not only
    our country needs for baseload capacity, like Envoy Kerry said
    right here in this hearing room about 1 year ago, that
    renewable power does not yet have the ability to provide
    baseload capacity.
        He was right. He was correct in saying that, and we need to
    look at the actual reality of what we need because every
    country will be facing rolling blackouts, and if it's not the
    policy of the Department of Energy or any other Administration,
    bureaucratic agency, then let's get to the reality of what we
    need and let's unleash American energy instead of having these
    handcuffs and not permitting what we need that I've just
    mentioned two of the dozens of permits that are out there
    awaiting either FERC or DOE approval right now.
        I yield back.
        Mr. Keating. The chair now recognizes Representative Meuser
    for 5 minutes.
        Mr. Meuser. Thank you very much, Mr. Chairman.
        I appreciate it. Thanks to our witnesses as well.
        I, too, accompanied the chairmen, both Meeks and Keating,
    to a European trip CODEL not too long ago, and the concerns
    that we heard regularly from our EU allies and partners, many
    of which was not necessarily in this order--certainly, energy
    costs going up and capacity and availability, food. Maybe not
    yet but real concerns.
        Of course, refugees. Every country we went to was taking
    hundreds of thousands of refugees. And they were concerned
    about actual invasion of their sovereign nation from Russia, of
    course.
        So we're talking energy here. So I'll ask the witnesses and
    Mr. Levine, Mr. Light, a question that's been asked, but I'd
    really like to hear what steps are being taken to increase U.S.
    production of LNG to assist Europe's transition from Russian
    gas.
        Mr. Levine?
        Mr. Levine. Thank you, Congressman, for the question.
        As I previously mentioned, DFC is focused exclusively on
    overseas transactions. So I do not know that I can speak to
    domestic production of LNG in the context of my role at DFC.
        Mr. Meuser. OK. DFC recently sent a letter to Scott Nathan
    that--from Senator Marco Rubio where Marco Rubio outlined what
    their purpose was to facilitate the participation of private
    sector capital and skills and the economic development of less
    developed countries in order to complement the development
    assistance objectives and advance the foreign policy interests
    of the United States.
        Yet, there's a long list of approvals of $40 million in
    equity investments to African private equity firms to improve
    their environment, those social and governance standards while
    promoting women's economic empowerment, approved $100 million
    partial credit guarantee to fund manager to make loans to local
    enterprises striving for climate, smart land management,
    emissions reductions. Another $80 million approved for climate
    resilient infrastructure in Africa and the Middle East.
        Meanwhile, Africa has as much natural gas probably as the
    Commonwealth of Pennsylvania.
        So can you understand the frustrations when we're--we have
    these hearings, we're asking these questions, we have $5
    gasoline. We have got the war that Putin created.
        We have got the EU on the brink of energy collapse, and
    you're not answering any of our questions, OK, with any
    substance It's more than just frustrating. It's wrong. OK.
        Are you hiding something? And I'm sorry, Mr. Chairman, but
    it's very frustrating. Why cannot we get an answer? Is there
    anybody on this panel that can answer me what steps are being
    taken to assist Europe in its loss of LNG or natural gas that
    it's purchasing from Russia?
        What is the U.S. doing to supplement this transition? Is
    there anyone on this panel, highly distinguished individuals
    from the U.S. Department of Energy--Assistant Secretary of
    Energy, senior bureau officials, chief climate officer?
        Nobody can answer that?
        Mr. Light. Congressman, I'm more than happy to answer your
    question. It's just that you directed it to my colleague, Jake
    Levine.
        So right now the United States is exporting every molecule
    of LNG that we possibly can that's being produced. We are at
    record highs of production. It will increase through the year.
        We had a setback with the Freeport fire that just happened.
    That's something that's concerning and probably impacting
    prices in Europe right now, in addition to the recent
    announcement of potential new cutoffs of Gazprom from Germany
    and Italy as well.
        But 70 percent of U.S. LNG exports this year have gone to
    Europe. That is where the cargoes are going. My colleague at
    the State Department, Harry Kamian, said earlier in the hearing
    that this is why President Biden and President von der Leyen
    signed and created this new U.S. European Commission LNG Task
    Force, which commits the United States to putting 15 bcm of LNG
    into Europe this year, and for creating the longer term
    contracts so there's more stability on the purchaser side,
    right, and on the production side in the United States so that
    the Europeans will pull together and create contracts that
    could go up to 50 bcm per year and increase those in the
    future.
        This is a very complicated market. It's a complicated
    dynamic. But I do not think that there's any holding back right
    now of information----
        Mr. Pfluger. We're all aware of how complicated it is and I
    respect your answer. Understand the seriousness of this, and we
    cannot be fooling around.
        Thank you. Mr. Chairman, I yield back.
        Mr. Keating. Thank you.
        The chair recognizes Representative Tenney for 5 minutes.
        Ms. Tenney. Thank you, Mr. Chairman, and thank you to the
    witnesses and Ranking Member Fitzpatrick for today's meeting.
        I want to ask my first question to Mr. Kamian. Can you
    provide any additional information and details about the use of
    the secondary sanctions in a way to enforce a possible price
    cap on Russian oil to cut our Russian energy--to cut Russian
    energy revenues? Is there anything more that we should know
    about that?
        Mr. Kamian. Congresswoman, thank you very much for the
    question.
        Together with our colleagues in the EU and the G-7 the
    Administration is discussing a wide range of options to try to
    figure out, on the one hand, how we can continue to reduce the
    revenue going to Putin and at the same time try to mitigate the
    possible negative impacts that it could have on the global
    energy market as well as our partners and allies.
        You mentioned one of the items that is currently under
    discussion that Secretary of Treasury Yellen mentioned last
    week, and that is one of the items that we're discussing
    together with our G-7 and other European partners.
        Those discussions are underway and I'm not at liberty to go
    into much detail other than to say that that and other options
    are worth looking at quite seriously to try to figure out how
    we might be able to reduce the revenue that's going to Putin,
    on the one hand, but be sensitive to our allies and partners in
    the Americas to mitigate the impacts it could have on us.
        Ms. Tenney. Right. So you're looking at--you're alluding to
    a price gap?
        Mr. Kamian. We're looking at a variety of options that are
    on the table in consultation with our G-7 colleagues in the EU.
    The degree of unanimity and cohesion between the United States
    and the EU and the G-7 has been fantastic and strong, and we're
    looking at exploring every possible option that we could take
    to balance those two competing needs.
        Ms. Tenney. Thank you.
        And Mr. Levine, what role can the Development Finance
    Corporation play in supporting LNG projects in Europe,
    including Greece, that will help us and the continent overcome
    some of this dependence on Russian energy?
        Are we working on that--those initiatives to make sure that
    happens? We just recently had meetings with the Prime Minister
    of the Hellenic parliament. We just want to know what your view
    is and if we're working on those issues.
        Mr. Levine. Thank you, Congresswoman.
        We are working on those issues. We are excited about the
    role that Greece can play in the Eastern Med. In fact, I do not
    know if you saw yesterday news reporting on a recent
    transaction to provide Israeli gas in partnership with Egypt
    and European countries, and we believe that Greece can play a
    similar role in terms of facilitating energy transactions and
    transmission through Greece and through the region.
        We have been similarly looking at projects not only in the
    LNG and gas space but also in clean energy, working on
    electricity distribution, network projects, wind projects,
    solar projects, and also, importantly, exploring our ability
    under our authorities provided by the European Energy Security
    and Diversification Act to support port infrastructure
    projects, which can be critical to energy----
        Ms. Tenney. OK. Let me jump to that because I want to ask
    you another question about the DFC and moving forward the Trump
    Administration's $300 million initial pledge to the Three Seas
    Initiative Investment Fund, which we are grateful for.
        What steps are you taking currently--is the DFC currently
    to coordinate the review and implementation of this strategic
    investment with the fund, the State Department, the U.S.
    embassies and the Three Seas countries involved in this
    initiative?
        Mr. Levine. It's--the Three Seas Fund is a top priority, as
    I previously mentioned. It's something that we're proud to be
    supporting, obviously, with enormous bipartisan support and
    support from this Administration.
        Our CEO, Scott Nathan, will be in Latvia next week at the
    Three Seas Summit, where he will be able to announce the terms
    and the scale of our commitment to that fund.
        One of the things that we have been working through,
    because when----
        Ms. Tenney. OK. Can I just reclaim my time for 1 second?
    Because I got two critical issues.
        I just want to make sure that there are no restrictions
    placed on this fund and that we are focusing that initiative on
    being able to use to counter the Russian influence on this
    region, which is feeling the pressure, obviously, because of
    the war in Ukraine.
        Can you just quickly comment on the fact that there are no
    restrictions on the use of this fund? We can still use it for
    LNG and other fossil fuels. It's not going to be restricted.
        Is that correct?
        Mr. Levine. Well, I'm not--I'm not sure what you mean by
    restrictions. But I was just going to note that----
        Ms. Tenney. OK.
        Mr. Levine [continuing]. Our eligibility to work on
    projects that come through the fund are limited to energy
    sector transactions because of the limitations in the Energy
    Security and Diversification Act.
        So to the extent that there are----
        Ms. Tenney. Right. No restrictions on fossil fuel
    enhancement to protect these regions in the Three Seas
    Initiative, right?
        Mr. Levine. Our support of the fund will extend to any
    projects that can provide energy security to eastern Europe and
    the region in this time of war.
        Ms. Tenney. Great. Thank you. I appreciate it.
        Thank you. I yield back.
        Mr. Keating. The chair now recognizes the co-chair of the
    Transatlantic Legislators Dialogue, Representative Costa, for 5
    minutes.
        Mr. Costa. Thank you very much, Mr. Chairman, for this
    timely hearing.
        I think we can all agree that in the last three and a half
    months the world has changed in ways that we could never have
    anticipated prior to Russia's invasion of Ukraine, this pariah,
    Putin, and the impacts, and while and we both Democratic and
    Republican Administrations has for 20 years or more than I know
    of have been suggesting--not suggesting, telling our European
    allies that reliance on Russia is not a good idea, I think that
    it has become a hard reality that, in fact, that's the case.
        We just, Mr. Chairman, finished a productive CODEL on the
    eighty-fourth meeting of the Transatlantic Legislators Dialogue
    last month.
        A number of our colleagues, including Congressman Pfluger--
    and I want to thank him for his participation--was at that
    meeting. I think we got a good conversation between our
    colleagues with the members of the European Parliament on what
    they're doing to free themselves of the dependence on Russia
    oil and gas.
        Let me ask Dr. Light a question with regards to that
    efforts. Increasing LNG imports can reduce EU's dependence on
    natural gas from Russia. What's the appropriate balance and the
    time lines between short-term and long-term efforts?
        I know there's been significant efforts going on in the
    last month or so with the REPowerEU plans, and could you
    comment?
        Mr. Light. Yes, sir. Thank you, Congressman. And thank you
    for your leadership on that dialog, which is incredibly
    valuable for the entire U.S. Government, I think, as we engage
    with this war, which is an energy war, to be sure, as much as
    it is any other kind of war.
        Just a base check on this. So Europe was importing 155
    billion cubic meters of natural gas from Russia last year. We
    were exporting 22 billion cubic meters of LNG. If Putin goes
    forward and starts shutting off more taps to Russia, there is
    not enough U.S. LNG in the world to fill that gap.
        So any kind of move that we make forward with respect to
    help it, you know, surging more cargos and what we're doing
    through the U.S. European Commission Task Force on gas is very
    good, but it has to be complemented fundamentally with work on
    increasing energy efficiency and getting the Europeans out of
    fossil energy as their primary source of energy for both
    consumers and for larger industry.
        Mr. Costa. Irrevocably it's----
        [Simultaneous speaking]
        Mr. Light. So the longer we--the long-term plan has got to
    be immediately implemented.
        Mr. Costa. Correct. I agree. I think--my sense in the
    conversations I've had not only when we were there at the TLD
    meetings but before and after that they clearly understand that
    they're behind the curve on this effort.
        But what do you estimate their ability and the plan that
    they are now trying to put in place to relieve themselves of
    that dependency and what do you think are the best ways?
        I mean, we're talking about fast track permitting of LNG
    facilities and so forth. But as you pointed out, there's not
    enough natural gas to--and I must say, it's one of the--I call
    it the energy du jour in California these days.
        How do we get our arms around this? Because it's critical
    that we do so as quickly as possible.
        Mr. Light. Right. So the Europeans want to get out of
    Russian gas by up to two-thirds by next year. If we permit--if
    there were a dozen permits before us now that we magically sort
    of, you know, approved overnight, you cannot build the
    facilities fast enough to get the product out the door to
    substitute for that.
        And so that's why you absolutely need to work on everything
    on the efficiency side, on helping to transition Europe away
    from using gas as their primary----
        Mr. Costa. We have got to use all the energy tools in the
    energy toolbox.
        Mr. Light [continuing]. To electrify their heating supply.
        Mr. Costa. Right. Don't you agree?
        To what extent do you think the hydrogen goals interact
    with the other energy goals in terms of renewables and how
    realistic are they?
        Mr. Light. I think the hydrogen goals are extremely
    important. That's one of the reasons why the Department of
    Energy has our Earthshot initiative to try to reduce the cost
    of green hydrogen to $1 per kilogram of green hydrogen by the
    end of the decade.
        When you get down to those kinds of costs then you really
    are talking about a viable solution, that you could use
    existing infrastructure that potentially could be funded by
    different parts of the U.S. Government to move that around
    Europe as a viable substitute for gas.
        Mr. Costa. Mr. Kamian, to what extent do you think Russia's
    ownership and stakes in European energy infrastructure pose a
    challenge for the EU plans to reduce their dependence?
        Mr. Light. Sorry.
        Mr. Costa. I was--is Mr. Kamian on----
        Mr. Light. Oh, Mr. Kamian. OK. Sorry.
        Mr. Costa. Yes.
        Mr. Kamian. Congressman, thank you very much for the
    question. I think in our recent conversation with our European
    allies and partners they've acknowledged that Russia partial
    ownership of some of the energy-related functions in Europe
    does pose a strategic challenge for them.
        We have seen steps, for example, by Germany and others to
    look at this to find out ways in which they can wrestle legal
    control back to them.
        But I think this is part of the broader awareness in Europe
    that they need to take every possible step that they can in
    both the short and medium term to not only reduce the reliance
    on Russia but, as Dr. Light mentioned, accelerate the clean
    energy transition.
        And part of this is going to be gaining greater control,
    greater independence, and greater freedom from Russia,
    including control over those energy facilities where Russia may
    have partial ownership.
        Mr. Costa. Well, thank you for your answer.
        Mr. Chairman, my time is expired. But let me thank you for
    holding this hearing today, and let me also urge my colleagues,
    having been around here for a while, that we are in a energy
    and war crisis, and the world has changed in the last three and
    a half months and, frankly, the way we solve these issues is by
    coming together.
        It's easy to point fingers and lay blame, but at the end of
    the day we all have a stake in ensuring that Europe is no
    longer dependent upon Russia, and that we as a democracy stand
    together to do the right thing.
        And we know there are challenges and we have differences,
    to be sure, and we can--we need to work through those
    differences. But at the end of the day, frankly, I think a
    dialog that has civil nature to its discussion toward solutions
    is the way we need to solve this effort.
        Mr. Keating. Thank you.
        The chair now recognizes Representative Meijer for 5
    minutes.
        Mr. Meijer. Thank you, Mr. Chairman.
        Dr. Light, what could occur more quickly, the construction
    of additional LNG export facilities in the U.S. or the full
    electrification of European home heating?
        Mr. Light. The full electrification of all heating in
    Europe would definitely take a long time, but it's not a zero
    sum game. I think that we can move forward with both these
    things at the same time.
        We can move forward with helping the Europeans to get out
    of a form of energy that can, frankly, be weaponized against
    them in a multiple--a multitude of ways.
        Mr. Meijer. And I appreciate you recognizing that, Dr.
    Light, because I completely agree that it's not zero sum. It's
    not either/or. It's both/and, and, Mr. Chairman, I wish to
    yield the remainder of my time to my colleague from Texas, Mr.
    Pfluger.
        Mr. Pfluger. Thank you to my colleague, and I agree with
    Mr. Costa that this does take all of the effort that we have,
    but it's not a pie in the sky plan.
        And let me ask, once again, Assistant Secretary, the--to my
    knowledge, the applications for the two permits that I
    mentioned on the west coast were put in 12 days after President
    Biden was sworn in.
        Can you tell me why they have not been approved?
        Mr. Light. Sir, this is really--that's an ongoing process
    through our office of fossil energy and carbon management, and
    that is not a process of my office overseas. It's an ongoing
    process.
        As I said, of those two facilities the one that's
    operational we have approved the majority of the product--U.S.
    product that goes through that.
        Mr. Pfluger. And there's a lot of--there's a lot of----
        Mr. Light. It's already been approved. So the question is--
    --
        Mr. Pfluger. Four on the Gulf Coast have been approved. We
    have two that for 500 days have not been approved, and if we're
    talking about energy security--that's right. In Mexico.
        If we're talking about energy security for our partners,
    and as the Assistant Secretary for Energy of International
    Affairs, this should be a priority.
        Let me ask you another question.
        Mr. Light. Yes, sir. But it involves an ongoing regulatory
    process that I do not have purview over.
        Mr. Pfluger. Thank you.
        Do you agree that refiners are to blame for $5 gas?
        Mr. Light. I think that the global market is at the mercy
    right now of Vladimir Putin.
        Mr. Pfluger. Is it the refineries----
        Mr. Light. I think we need to do everything we possibly
    can----
        Mr. Pfluger. Assistant Secretary, do you believe----
        Mr. Light [continuing]. To make sure that the manipulation
    of that market and the impact of this war----
        Mr. Pfluger. Do you agree that refineries----
        Mr. Light [continuing]. Isn't as sad as it is on the
    American people.
        Mr. Pfluger. Do you agree that refiners are to blame for $5
    gas? American families going to the pump and in California
    paying almost $7, and cases above $7--do you believe that
    refiners are to blame?
        Mr. Light. I think the fact that the profit margin now is
    220 percent or more or what it was last year is disturbing.
    That's what President Biden's letter tried to address and
    that's what the convening that's here tried to address.
        Mr. Pfluger. You mentioned----
        Mr. Light. But, of course, we would never say----
        Mr. Pfluger. You mentioned earlier today--and thank you for
    that--you mentioned earlier today that we are at record high
    production. In fact, in my area, in the Permian Basin, we're
    almost at 5.3 million barrels a day with one-third less active
    rigs.
        So you're right, we are at record production. Do you agree
    with President Biden when he said that we're not--that
    producers are not producing enough?
        Mr. Light. I think that by the end--by 2023, we will be at
    even the highest levels of production----
        Mr. Pfluger. Do you agree that--do you agree with President
    Biden when he accused producers in a similar fashion that he
    said to refiners that they're not producing enough?
        Mr. Light. Well, I think that what's going on right now is
    that we have had--as you said, there's been a slowdown in
    deployable rigs that happened because of COVID and that's one
    of the biggest hurdles right now for producers to produce more
    is getting workers on rigs and getting rigs deployed.
        Mr. Pfluger. So do you agree that----
        Mr. Light. That is definitely something that needs to----
        Mr. Pfluger. It comes down to--it comes down to the
    assault. We have talked about the manipulation. Putin is not to
    blame for American energy prices. We only import 10 percent,
    historically, from Russia. Putin is not the cause of that.
        Now, there is a energy crisis ongoing in Europe and we can
    be a part of the solution. What is the additional capacity in
    bcm of LNG that we have right now to ship off our shores?
        Mr. Light. Zero additional capacity to ship off our shores.
        But the energy crisis like the gas prices, that's subject
    to the global oil market. Even while we have high production
    levels in the United States, the global oil market is affected
    by things like the Ukraine war regardless of what is
    happening----
        Mr. Pfluger. Should we be competing with malign actors to
    take the place of them shipping their products, their oil and
    gas, people like Venezuela, Iran, North Korea? If they have any
    production? China?
        Should we be competing with them?
        Mr. Light. We're competing with other countries in terms of
    the global market?
        Mr. Pfluger. Uh-huh. To provide for----
        Mr. Light. We should absolutely compete with other
    countries in terms of the global market.
        Mr. Pfluger. OK. So it comes down to the permitting. It
    comes down to the infrastructure here in the United States, as
    you mentioned.
        Do you agree with Envoy Kerry's recent comments saying that
    natural gas or fossil fuels have a shelf life of about 10
    years, that we should be done in about six, eight, maximum 10
    years?
        Mr. Light. I'm just not aware of what the secretary said in
    that context.
        Mr. Pfluger. I mean, he's the special envoy for energy and
    you are an assistant secretary at the Department of Energy and
    you do not know what he said.
        [Simultaneous speaking.]
        Mr. Light. I do not know what he said about this or what
    his comments are.
        Mr. Pfluger. I would invite you to read his comments that
    are public.
        Mr. Light. I am very happy to look at what the comment--
    what----
        Mr. Keating. The gentleman's time has expired.
        The chair recognizes Representative Wild for 5 minutes.
        [No response.]
        Mr. Keating. Could you communicate to Representative Wild
    that she is muted and the video is----
        Having gone through the first round and up against the roll
    call in just a matter of minutes, we will continue with some
    second round questioning as time permits where the roll call is
    called.
        Mr. Pfluger. Mr. Chairman?
        Mr. Keating. Representative Pfluger?
        Mr. Pfluger. Did Representative Malliotakis not get called?
        Mr. Keating. We do not have her as being on the list.
        OK. Thank you so much.
        Mr. Pfluger. She is still----
        Mr. Keating. Thank you, Representative Pfluger.
        Representative Malliotakis is recognized for 5 minutes.
        Ms. Malliotakis. Thank you, Mr. Chairman, and thank you to
    my colleague, Representative Pfluger.
        I agree with the sentiments that my colleagues expressed
    today, that it is obviously a national security issue, not just
    for Europe but for our own nation, and I would really advise
    the Administration to stop looking at our adversaries for
    energy needs when we can be producing right here in the United
    States and we have the ability to approve permits and leases
    and ramp up domestic production today to increase supply.
        And with that said, I would like to yield my time to
    Representative Pfluger so he can continue his questioning on
    this issue.
        Mr. Pfluger. Thank you to my colleague from New York, who
    understands national security better than most.
        Assistant Secretary, what steps are being taken right here
    in the United States? Because you mentioned that--in my
    previous question that there is 0.0 additional capacity. What
    steps is the U.S. Department of Energy taking to increase
    domestic production of LNG so that we can assure our partners
    and allies of their national security?
        Mr. Light. So the--you know, as I said before, we've been
    processing all permits on that and I think that U.S. capacity
    is high. We have been working with the State Department and
    others with respect to the critical situation that we're right
    now in terms of the refilling situation that's going on in
    Europe. And so----
        Mr. Pfluger. What steps are we taking right here to
    increase domestic production? It's very simple. You're a senior
    member of the Department of Energy. Our national security
    depends on you.
        Mr. Light. Right.
        Mr. Pfluger. What steps are being taken?
        Mr. Light. Right. So, as I said before, the Biden
    Administration fully supports all of the LNG that's being put
    in capacity and is moving out. We have had some permitting and
    some new trains go online.
        Just recently, they've increased our capacity that will,
    again, give us the highest capacity that the U.S. has ever had.
        Mr. Pfluger. This is the quote, and I'd like to submit this
    for the record, Mr. Chairman, the article from Bloomberg.
        Though natural gas burns cleaner than coal when used to
    generate electricity, it should not be a long-term climate
    strategy without emission control technology. And he says, then
    you've got 6 years, 8 years, no more than 10 years or so which
    you've got to come up with something else.
        OK. That is----
        Mr. Keating. Does the representative--excuse me.
        Is the representative moving to unanimous consent that that
    be part of the record?
        Mr. Pfluger. I'd like to submit this for--yes.
        Mr. Keating. Without objection.
        [The information referred to:]

        [INFORMATION NOT AVAILABLE AT PRESS TIME]

        Mr. Light. The first part of what Secretary Kerry said
    there is absolutely right, is that--is that natural gas is not
    an indefinite bridge fuel with respect to the climate problem
    that we are facing right now because it is a hydrocarbon, and
    also because of the leaking that occurs throughout the process.
        One thing that the Department of Energy is doing right now
    very intensively is making sure that we can tamp down every
    leak from the drilling site all the way to the transmissionsite
    so that all the gas that we do produce and then put through the
    liquefaction process actually makes its way up to the market--
    --
        Mr. Pfluger. This is why I ask----
        Mr. Light [continuing]. And also is the greenest natural
    gas available on the market, the cleanest natural gas available
    on the market.
        Mr. Pfluger. Thank you for recognizing that. It's the first
    time I've heard a very good factual point about what we do here
    in the United States.
        We have the largest secure, stable supply, right, not just
    LNG but of energy. And you know what? I have the credibility to
    talk about this because in my district we have renewables.
        In Texas, we have 23 to 24 percent of our grid that's
    serviced by renewables. I have more wind energy in my
    congressional district than the entire State of California. But
    I'm very concerned about the misprioritization that the
    Department of Energy seems to have declared war on the oil and
    gas industry.
        It is clear to most Americans--every American who goes to
    the pump today and pays over $5 a gallon for gasoline we'll
    think about President Biden.
        They will think about his policies, about him going to
    Saudi Arabia and asking the Saudis to produce more, about him
    asking for Venezuela to import oil when we can do it right
    here.
        They will think back to the summer of 2021 when people like
    me asked President Biden to fully sanction the Nord Stream
    pipeline in advance of the impending invasion.
        They will realize that when I sat across from President
    Zelenskyy just 20--18 to 20 days before the invasion, he told
    me that without Nord Stream there would be no invasion. That's
    what President Zelenskyy told me.
        Yet, now the Administration is trying to blame this on
    Putin.
        Mr. Secretary, what steps is the Department of Energy
    taking to produce more LNG right here in the United States?
        Mr. Light. So I think I've answered that question and I
    think that--again, we do not want to mix oil and gas.
        The oil prices and the gas prices that derive from them are
    being driven by the war because it is a global market. It's not
    a market controlled by the United States.
        On the gas side, I completely agree with you is that even
    before this entire war started Russia was not only providing
    most of the natural gas to Europe, they were also providing the
    dirtiest natural gas in the world.
        It was not a transition fuel away from coal, effectively,
    because of the life cycle emissions of that.
        And so with respect to what we have been doing is we have
    been tightening up--working to tighten up the reserves----
        Mr. Pfluger. And we--we thank you.
        Mr. Light [continuing]. And even the transportation in the
    United States to make sure that the molecules get out the
    door----
        Mr. Pfluger. My time has expired. If you'll allow me 10
    seconds.
        We have got to compete with malign actors around the world.
    We do it better than anybody else. We shouldn't be paying China
    for the pieces and parts and critical minerals that are being
    harvested and mined through slave labor.
        We should not be enriching the Chinese. So let's look at a
    strategy that is all of the above, that is realistic that
    provides for baseload capacity. If our national security
    depends on it, that of our partners and allies depends on it,
    we are in a very complex threat environment right now.
        We have to think about this. Please quit declaring war on
    U.S. domestic production.
        And I yield back.
        Mr. Keating. The chair recognizes Representative Wild for 5
    minutes, and she could be a little liberal, given the
    flexibility we have entertained so far.
        Ms. Wild. Thank you very much, Mr. Chairman. Sorry I wasn't
    available earlier.
        I'd like to direct my question to Assistant Secretary
    Light.
        Secretary, in addition to its dominance as an energy
    supplier, Russia's influence also extends to European natural
    gas infrastructure, including major investments in storage
    facilities, pipelines, oil refineries, and the like.
        I'm wondering if you could comment on what challenges
    Russia's ownership stakes in European energy infrastructure
    poses for EU plans to reduce dependence on Russia.
        Mr. Light. That's an excellent question, and I think that
    there the--as I said earlier to Secretary--I'm sorry,
    Representative Keating, this is a seven move play by Vladimir
    Putin.
        It was basically to make sure that it was not only the
    product but also the infrastructure, the delivery, the contract
    system. Everything was set up to create this complete reliance
    on Russia on that.
        And so in that respect, I think that any long term plan,
    both to diversify supply in Europe as well as to help the
    Europeans to get off their reliance on fossil energy, for which
    I think there's just not enough product that can replace what
    they were getting from Russia, has got to involve major work on
    infrastructure, and that's something that my colleague from the
    Development Finance Corporation was speaking to earlier in
    terms of our authority to work on that.
        So what we're really trying to do now is identify projects.
    We need the help the Congress to identify the projects we can
    make the most impact with respect to creating an energy
    infrastructure that is truly resilient and in the face of the
    weaponization of energy that we're seeing with Putin. We do not
    want to put them in the same position with anyone else.
        Ms. Wild. Well, with that said, I'm curious how the
    Administration views the role of former high ranking
    politicians in western European democracies who, after leaving
    office, serve on the boards of Russian energy companies,
    including a former German chancellor and until the Ukraine
    invasion a former prime minister of France.
        Even how well known and influential these former
    politicians are in their own countries, how do you assess their
    effectiveness in advocating for energy interests in their home
    countries?
        Mr. Light. I think that the effectiveness of using
    particular individuals in Europe as the emissaries for that
    product speaks for itself and it, obviously, was a problem that
    was making it more difficult to have inroads.
        All that has changed now because of the war, and in this
    respect, one of the things the chairman said earlier that Putin
    may have overplayed his hand on this and we will eventually be
    able to get to a point where the Europeans are not as reliant
    on the Russians and so cannot be put--open up an energy flank,
    whatever else Putin wants to throw at them, is probably better
    than it's ever been before.
        Ms. Wild. Well, this may be, you know, a speculative
    question, but with the invasion in Ukraine and, you know, what
    we have seen in terms of energy independence in Europe and so
    forth, do you think it's a permanent breakaway of these former
    western European politicians from serving on Russian energy
    boards or do you think they'll go right back to it when and if
    this war ends?
        Mr. Light. Thank you, ma'am. I think the stakes are so high
    we must make this a permanent break. I just think that anything
    else short of that is just not acceptable and that's one of the
    reasons why we have got to double down on efficiency. We have
    got to double down on alternative forms of energy, that it not
    be used there.
        If the Europeans just switched wholesale from Russian gas
    to some other sources of gas around that does not make them, at
    the end of the day, more secure if they're not able to, for
    example, to rely on electricity that they can produce at home,
    including, hopefully, we hope someday in the near future from
    Ukraine, from clean reliable electricity for their heating as
    opposed to what they've been doing with respect to gas.
        It is a big problem. It's a complicated problem. But, you
    know, if we were, for example, to take all U.S. LNG and surge
    it all magically into Europe overnight, we would create
    overnight huge problems with other parts of the world--I mean,
    Asian markets as well.
        And so this is one of the reasons why the opportunity that
    we have in Europe despite the terrible reasons for it, we
    cannot afford not to lose with respect to helping them to
    become energy independent, renewable.
        They already have their own targets that set them in that
    direction. Now we just need to work with them in order to help
    them to achieve it.
        Ms. Wild. Well, thank you. You answered my next question
    with your answer already.
        So, Mr. Chairman, do I have time for one more question or
    no?
        Mr. Keating. You have plenty of time. Go ahead.
        Ms. Wild. Thank you, Mr. Chairman.
        And this is for Mr. Jack Levine, chief climate officer of
    DFC.
        Mr. Levine, under the Biden Administration, DFC has
    established a target to reach net zero emissions through its
    investment portfolio by 2040 and to make one-third of its
    investments climate focused by the start of 2023.
        How do these targets intersect or conflict with DFC's
    efforts to diversify energy sources and support European energy
    security?
        Mr. Levine. Thank you, Congresswoman, for that question.
    It's really important, and I think that my colleague, Assistant
    Secretary Light's, last response did a lot of work to help
    highlight why those targets are so critical because even as we
    work to support the diversification of sources of energy on the
    oil and gas side in the immediate term to help avoid what will
    be a very challenging and a very painful winter, maybe two
    winters, in eastern Europe, we know that we need to immediately
    be rolling out projects in energy efficiency, in
    electrification, in the use of heat pumps, surging smart
    thermostats into homes across Europe so that homeowners can be
    a part of the solution.
        We know that just by reducing the temperature on the
    thermostat by one degree you could free up 10 bcm of gas, for
    example. There are solar, wind, battery storage, geothermal
    nuclear projects.
        All of these projects would serve to advance DFC's net-zero
    target. They would count toward our 33 percent Fiscal Year 1923
    renewable energy and clean energy and climate targets.
        And then I think from there it's important to acknowledge
    that as we invest and continue to support some of the energy
    security projects that will have emissions associated with
    them, we also need to be working on carbon sequestration,
    carbon removal, nature-based solutions projects around the
    world to bring down our emissions on the other side of the
    ledger, and I'm excited to be able to report that we have
    increasingly seen very exciting, very robust deal flow in those
    spaces, in Amazon supporting regenerative agriculture and
    reforestation--in the Amazon Basin, excuse me--in Southeast
    Asia, in Indonesia, in Africa projects where investors are now
    developing real opportunities to capitalize on the value of
    removing that carbon from the atmosphere and balancing the
    ledger.
        Mr. Keating. Thank you very----
        Ms. Wild. Well, I hope we can----
        Mr. Keating. The gentlelady's time has expired. Thank you
    very much.
        And I would like to just take advantage of having our
    witnesses here as much as time permits. We are up against a
    four roll call vote sequence that's coming up.
        So what we'll try and do is to the extent that we can do,
    like, 5 minutes and 5 minutes on each side. I do not anticipate
    we're going to get through a whole second round but we might be
    able to get in, at least I think--by the way, the roll call
    looks at least one back and forth 5 minute--as I think that's
    something that we'll try to do to try and deal with this.
        So I'll recognize myself for 5 minutes and then we'll see
    how far it goes.
        Mr. Light, you mentioned that the markets and the price
    that people pay at the gas pump it's set by the global market.
        So the fact that there's 10 percent production that we will
    rely on--we used to be reliant on 10 percent of Russian oil in
    the U.S.--that's really--the price is set globally. Is that
    correct?
        Mr. Light. Correct.
        Mr. Keating. So that does not really affect the price, the
    fact that we're only relying 10 percent on Russian oil and
    that's the fact.
        Along that line, you mentioned that there's been 220
    percent profit margin in the last year from the oil-producing
    companies. That includes, by the way, $30 billion from Exxon,
    $10 billion from Chevron, for instance, that were used on stock
    buy backs instead of further supply production.
        Could you tell us if there's availability and federally
    permits right now for production of energy that are unused at
    this moment?
        Mr. Light. There are lots of reasons that are unused and on
    the----
        Mr. Keating. Do you know how many? I have a figure that is
    there. But do you know--I had a figure of 9,000. Is that----
        Mr. Light. Nine thousand is the same figure----
        Mr. Keating. Does 9,000 currently--there's 9,000 Federal
    permits that aren't being used by the oil companies. At the
    same time, they're getting 220 percent profit and the same time
    they're doing these stock buy backs?
        Mr. Light. It's 225 percent increase in profits from Q1
    2021 to this quarter.
        Mr. Keating. At the same time.
        So, usually, historically, when there's an increase, as we
    have had this dramatic increase in demand after COVID, usually
    the companies increased supply. But we're seeing stock buy
    backs instead of that and we're seeing permits that aren't
    being used. I just wanted to be clear on that as well.
        And the other thing is, is Mr. Putin's action in the energy
    front and through the invasion--the illegal invasion of
    Ukraine--has that affected global prices?
        Mr. Light. Completely true it affected global prices, as
    has the expected response from the Europeans themselves with
    respect to their announcement of their ban on oil.
        I mean, that's something that's happening right now.
        Mr. Keating. I just want to be absolutely clear.
        Mr. Light. I mean, the----
        Mr. Keating. I mean, Putin's actions have resulted in an
    increase in global prices, which increases the price here.
    That's what sets the price. Am I correct?
        Mr. Light. Putin's actions, the war itself, the energy war
    component of it, is increasing the price of oil. It's driving
    that. We can see that.
        We have tried to mitigate that as much as we could with the
    two largest--as Harry Kamian said earlier in his testimony, the
    two largest ever collective releases of oil through the
    International Energy Agency--through the 31 countries of the
    International Energy Agency, 120 million barrels there added to
    the 260 million barrels that President Biden announced
    unilaterally, which puts a million barrels a day on the market.
        So we have done our best to do every tool we can to make
    sure that the American people do not feel this effect. But they
    are because the war continues and because it continues to have
    an impact.
        Mr. Keating. I just want to be clear on that, because
    there's so many--so much conflation of things that do not line
    up in reality and in fact, and I want to be clear of that.
        There are areas, certainly, that there's great agreement
    across the aisle here, and one is to do our best at energy
    independence in Europe in LNG.
        Have we been assisting our European allies in terms of LNG-
    receiving facilities? Is that a limiting factor? There's--you
    know, it's one thing to be able to supply LNG. The other is do
    they have places for storage and capacity that we're working on
    and assisting with them on?
        Mr. Light. They have these floating storage and
    regasification units. The Europeans are already moving forward
    on those by themselves. Finland and Estonia, for example,
    leased one just recently after Finland got cutoff from Gazprom.
        You're seeing more of that happen around there. The
    infrastructure problems, I think, in Europe are actually not
    the biggest drawback right now. The question is really making
    sure that we decrease demand and that's something that's
    absolutely essential and that is why the longer term play of
    decarbonization has to begin immediately and has to do that so
    all the things that Jake mentioned earlier of heat pumps, of
    smart metering, of all this thing--every kind of--every single
    renewable project we can put out there is going to be important
    because it is an energy system. We're definitely in favor of
    stable energy systems and they're going to be complemented----
        Mr. Keating. And the government cannot do this alone. I
    think Mr. Levine mentioned the work we're doing with the
    private sector to encourage energy independence. Could you
    expand on that in the few seconds we have left?
        Mr. Levine. Yes, very quickly. I mean, the entire private
    sector is--first of all, as you note, even though the EU is
    going to spend $200 billion between now and the year 2027 they
    need to spend $200 billion every year in order to scale up the
    resources and the supplies and the demand reduction projects
    that we need.
        So without the private sector, it's not going to happen and
    that's why the derisking tools, the guarantees, the insurance,
    the technical assistance actually that we can provide to help
    create bankability in terms of these projects is absolutely
    critical.
        And there's been enormous private sector interest, which is
    encouraging and we're excited to be supporting that interest.
        Mr. Keating. Yes. That's why the work of this Congress
    years ago in establishing your agency and moving it forward is
    so critical because there was recognition then as there is now
    we cannot do it alone, and you're certainly the linchpin in
    terms of leveraging our ability to do that.
        So I will yield back now. Unless there's any objection I
    hear from other people in the queue that have spoken before, I
    see that Representative Pfluger is here.
        So if there's no objection from anyone else, I'll recognize
    Representative Pfluger for 5 minutes.
        Mr. Pfluger. No objection.
        Assistant Secretary, this is a fascinating conversation
    about 9,000 permits and, as you know, the assistant secretary
    for energy and international affairs, 9000 permits--I mean,
    come on.
        We need 90,000 permits. There are thousands of permits that
    are required to take a molecule out of the ground and get it
    all the way down to where it needs to go to be refined.
        And speaking about the SPR, as you know, that's crude.
    That's not a refined product. So when will you refill the SPR?
        Mr. Light. So the refilling process has started on----
        Mr. Pfluger. Really?
        Mr. Light. Yes, it has.
        Mr. Pfluger. OK. How many days will it take?
        Mr. Light. The total number of days I do not know off top
    of my head but I'm happy to get back to you on that----
        Mr. Pfluger. OK.
        Mr. Light [continuing]. And get you that information.
        Mr. Pfluger. Did that make a dent on the price here in the
    United States?
        Mr. Light. Well, refilling the SPR itself will not have an
    effect on the price.
        Mr. Pfluger. No, the release. The release.
        Mr. Light. In terms of increasing the prices?
        Mr. Pfluger. No, the release. The release of the SPR.
        Mr. Light. The question was how soon we'd want to release--
    --
        Mr. Pfluger. A million barrels per day? Do I have that
    right?
        Mr. Light. But I think that given that we're in the mid--
    we're about to start hurricane season, it's probably not
    prudent to immediately rerelease as soon as we have refilled,
    and also it takes some time to do this.
        Mr. Pfluger. Just very quickly. You're going to refill the
    SPR?
        Mr. Light. There's a refill plan that's been executed.
    Absolutely.
        Mr. Pfluger. OK.
        Mr. Light. I can--I'm happy to get you the schedule for
    that.
        Mr. Pfluger. Please do. Thank you for that.
        Mr. Light. Yes.
        Mr. Pfluger. I'll go back to DFC for just a second, Mr.
    Levine. Did the Biden Administration change the policy with
    regards to LNG? DFC policy? With regards to the investment
    policy, did it change from the last Administration to this
    Administration?
        Mr. Levine. I'm not aware of any change in policy relating
    to LNG.
        Mr. Pfluger. I think you've mentioned one already and that
    is with regards to the pipelines.
        Mr. Levine. No. What I was saying with regards to the
    pipelines was what are our authorities under the European
    Energy Security and Diversification Act.
        Mr. Pfluger. Will the DFC invest in pipelines in places
    like Alexandroupolis, in places like the Baltic countries?
        Mr. Levine. The DFC will invest in any energy
    infrastructure that can provide energy security and for which
    we have authority to invest.
        Mr. Pfluger. And that's the authority piece.
        Mr. Levine. Exactly.
        Mr. Pfluger. Did the Biden Administration change the policy
    from the previous Administration with regards to LNG?
        Mr. Levine. No. No. With respect, the authority comes from
    the statute. It's not a--that's your authority. You're granting
    the authority to us.
        Mr. Pfluger. We're well aware of that.
        Mr. Levine. Yes. So, in fact, you could ask--I could ask
    you does the does the Act provide that authority.
        Mr. Pfluger. Well, the next time I'm sitting down there and
    you're sitting up here you can ask me that question.
        Assistant Secretary, you've mentioned that you do think we
    need to compete globally. But we have two West Coast permits
    that increase U.S. jobs, that increase U.S. economic output.
    Are you committed to the security of our partners and allies in
    Asia?
        Mr. Light. Absolutely. We're committed to our partners----
        Mr. Pfluger. So why are those----
        Mr. Light [continuing]. Who we owe a tremendous debt to,
    given that they helped us to trade some cargos in the early
    part of this year so that Europe could get some emergency
    relief.
        Mr. Pfluger. You've also mentioned that we do not have any
    additional capacity right now to send to Europe. In fact, the
    Asian countries have been very generous in allowing the
    movement and the diversion of those molecules of LNG to move to
    Europe.
        So why are we not approving the permits on the West Coast
    if we're committed to the security of our partners and allies?
    It's an easy one.
        Mr. Light. Sorry for the double negative, but we're not not
    approving this permit.
        Mr. Pfluger. They've been sitting on----
        Mr. Light. We are, in fact----
        Mr. Pfluger. They've been sitting on the secretary's desk
    for 500 days.
        Mr. Light. On the secretary's desk. That process is ongoing
    now and then we should be able to communicate something on that
    very soon. If it's of interest, I do have one note on the SPRO
    if you wanted to----
        Mr. Pfluger. I'll use it for the record. I've got a minute
    and 13 left.
        So imagine us juggling all the priorities. My concern is
    the fact that when you look at these priorities, and in a
    previous comment you talked about every priority except for
    reliability, and when it comes to--and we can say that that was
    just left out.
        But I think it is the policy of the Biden Administration to
    disregard reliability right now because we all want a better
    earth. There is no question about that. We're going to increase
    the population on this earth in the next 15 to 20 years by
    almost 50 percent. I'm sorry. We're going to increase the
    population by another billion and increase demand for
    electricity by almost 50 percent.
        So when it comes to reliability it has to be a priority.
    You can have price. You can have security. You can also have
    the climate goals. But you have to have reliability. The
    Administration is completely ignoring that piece of it.
        When it comes to baseload capacity we are ignoring that,
    and this is the plea from the American people is that they need
    reliability.
        The price has to come down and it's incumbent upon the
    Department of Energy and agencies like FERC to make sure that
    we are actually doing the right things here domestically so
    that other countries like China and Russia do not take
    advantage of our lack of production, which is exactly what the
    Administration has done.
        Mr. Light. Congressman, with all due respect, this
    Administration is a thousand percent committed to the
    reliability of energy systems.
        It would be absolutely--it would completely undercut all of
    our goals in order to see an energy transition--to transition
    to an unreliable system, and that system will have a number of
    components including renewables, including nuclear, including
    decarbonized fossil, as Jake mentioned earlier.
        That creates a comprehensive energy system that definitely
    will be as reliable. We would never imagine to put the American
    people or the world at large at the risk of an unreliable
    energy transition to something they couldn't rely on.
        Mr. Pfluger. Well, with all due respect----
        Mr. Light. That would be an unsuccessful transition. No one
    would accept it.
        Mr. Pfluger. With all due respect, I also disagree that
    reliability is being ignored. We're not in a transition. We're
    in an expansion, and we need to get our minds around the fact
    that we are expanding our energy needs, not just in the United
    States but worldwide.
        Mr. Light. Completely agree. Transition, then an expansion.
        Mr. Pfluger. This is not a transition. This is an
    expansion.
        I yield back.
        Mr. Keating. On that moment of agreement, I'm informed that
    we're just minutes away from a set of four roll calls being
    called.
        I want to thank our witnesses on this important issue.
    There will be, I'm sure, followup briefings and other
    opportunities to deal with it, and as I said at the outset, I
    believe that we are in an historic time in terms of our energy
    transformation globally and the leaders in this will be the
    transatlantic alliances dealing with things that should have
    been dealt with, perhaps, many years ago, but now accelerated
    by the threat of the unprovoked and illegal actions by Putin in
    Ukraine and the followup using energy as a weapon through
    Europe, in particular, but also have an effect globally on
    worldwide prices.
        So I'll inform the committee members they'll have 5 days to
    submit statements, extraneous material, and questions for the
    record, subject to the limitations of the rules.
        I want to thank the members for their participation in a
    day when much was happening at the same time, but also at a
    time when this central issue, an issue so vital to our
    country's security, so vital to our economic prosperity, at a
    time when climate change presents an existential threat not
    only to our own country but to the world.
        So I want to thank you for your participation in this very
    important subject.
        And with that, I'll declare the hearing adjourned.
        [Whereupon, at 10:54 a.m., the committee was adjourned.]

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