Oversight of the department of Energy Research and development enterprise. Welcome, mr. Secretary. Were delighted youre here today. This committee has jurisdiction over the department of energys vitally important science and Energy Research and development activities. The laboratories and facilities so i hope we see you much more frequently from now on, and i look forward to working with you throughout this congress. With the budget season mostly behind us, id like to bring just a few minutes and a few items to your attention. Ill start with the good news which is that despite the administrations best effort to make draconian cuts across the board to deo research and Development Programs, most actually fared well in the house of representatives. Im particularly pleased to see the increases to the budget for arpae and the long Programs Office both of which have yielded truly transformative results for Energy Technologies of all types. Im also quite happy that the house supported a subst
Test. Test. Test. And part of that reason is because of the research that is going on at our National Labs. And im going to, again, ask paul to share with you, just because hes fresh out of seeing some of this and has to do with the Battery Storage. And the progress being made on Battery Storage is really fascinating. And ive always said that Battery Storage is the holy grail. If were able to get to that point where we can use our renewables, solar and wind in particular to power these batteries that have long time storage, and what were finding now is that the the elements that are being used to create some of these batteries are not Rare Earth Minerals and theyre elements that we have right here in the United States, so were going to be in control of our future substantially more on the Battery Storage if you just kind of give them a glimpse of whats going on here and i think thats pretty exciting stuff. So a couple of examples, the complex, r d business, beyond lithium ion batteries
We are delighted youre here today. This committee has jurisdiction over the department of energys vitally important science and Energy Research and development activities. The laboratories and facilities , so i hope we see you more frequently and i look forward to working with you throughout this congress. With the budget season mostly behind us, id like to bring just a few minutes and a few items to your attention. Ill start with the good news which is that despite the administrations best effort to make cuts across the board to deo research and Development Programs most faired well in the house of representatives. Im particularly pleased to see the increases to the budget for arpae and the long Programs Office both of which have yielded truly transformative results for Energy Technologies of all types. Im also quite happy that the house supported a substantial increase in the International Fusion project which i advocated for as well. I went to visit that project a couple years ago,
New investment restrictions tied to china its wednesday, august 9th, 2023, and youre watching Worldwide Exchange right here on cnbc. Good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready to start this day as always kick it off with a check on u. S. Stock futures. Right now were seeing them in the green across the board open up about 08 points higher nasdaq, more than a third percent higher in the premarket after a rough session for stocks yesterday. Investors digesting the moodys downgrade that sent major u. S. Officials sinking. Goldman sachs closing 2 lower, citi down 1. 5 and wells fargo jp morgan largely spared in this situation. This morning, were seeing a bit of a mixed picture take a look at how the stocks are performing right now in the premarket. Were seeing some of them still in the red as you can see, goldman sachs, jp morgan fractionally lower, bit of a rebound for bank of america, half percent higher, wells fargo up. 25 . Bond market, as always,
[applause] [applause] oh come on. Good morning. Thank you for that warm welcome and thank you for being in person all the people watching on line or listening remotely we say thank you for joining us for the 2024 state of the state. Youve all been thoroughly welcomed this morning but i want to give a special shout out to a few people in the course ive got to start with first Lady Catherine and her family members she spirit their sister julie and her cousin lisa and watching on line to the rest of our rest of our extended families and their sons joe and tom and her daughter jesse and their extended families. When you serve your family serves with you so i want to be sure to at this time thank them for all their support in the seven years in todays a special day because its jesses birthday and so we need on a one, two, three everybody to yell happy birthday jesse. It will be the Largest Group to ever yell her birthday at the same time. One, 23, happy birthday jesse [applause] way to go.