Steven Chu: “I am concerned that we have not adequately focused on the importance of research and development of new energy…”

President Obama has a plan for the United States to win the future by out-innovating, out-educating and out-building the rest of the world while at the same time addressing the deficit.

We believe that that ATVM loans, for example, the loans to Ford and to Nissan, saved or generated many, many thousands of jobs.

If I look at other countries and how they are borrowing from our playbook--we have a long history of funding our research and development through our national labs, through our universities, and even in some companies.

Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.