[Weekly Compilation of Presidential Documents Volume 34, Number 15 (Monday, April 13, 1998)]
[Pages 584-585]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the Resignation of Federico Pena as Secretary of Energy

April 6, 1998

    Earlier today, with regret, I accepted Secretary of Energy Federico 
Pena's resignation.
    Secretary Pena has admirably served my administration, first as 
Secretary of Transportation and then as Secretary of Energy. It is a 
measure of my confidence in his abilities that I entrusted him to run 
not one but two Cabinet agencies.
    In his last year he diligently managed the Energy Department, 
focusing on energy, environmental quality, national security, and 
science and technology issues. Just last week Secretary Pena unveiled 
our Comprehensive Electricity Competition Plan, saving consumers $20 
billion per year, by introducing competition into the electricity 
industry. Under his leadership, the Department of Energy provided much 
of the analysis that gave me the confidence that we can reduce 
greenhouse gas emissions without harming the economy.
    In the last year he helped shape our policy in the Caspian region, 
building a coalition among the key nations in that region; he provided a 
comprehensive national energy strategy for the Nation that will help 
ensure that Americans have affordable, clean, and secure energy supplies 
in the 21st century; and he privatized Elk Hills Naval Petroleum 
Reserve, generating $3.65 billion for U.S. taxpayers.
    During his 4 years at the Transportation Department, Secretary Pena 
increased the

[[Page 585]]

level of competitiveness of America's transportation industry with more 
investments in mass transit than at any time since Woodrow Wilson was 
President. Secretary Pena helped to improve travel safety, signed 
aviation agreements with 40 nations, opened lucrative markets for 
American airlines, and oversaw a 25 percent increase in infrastructure 
investments.
    I wish Secretary Pena, his wife, Ellen, and their three children the 
best for the future. I thank him for his invaluable service as a member 
of my Cabinet.