Barrasso Opening Statement on Nuclear Fusion Technology

September 19, 2024

Click here to watch Senator Barrasso's opening remarks.

"Thank you Mr. Chairman please feel free to interject. We have a great working relationship.<_o3a_p>

"I'm so proud of what we were able to do with permitting. <_o3a_p>

"I continue to hear about the success of the bill that came out of this committee. <_o3a_p>

"All of us here sitting here today voted for it, 15 to 4. <_o3a_p>

"And I'd like to get that on the floor of the Senate as quickly as possible.<_o3a_p>

"Thank you for holding this hearing today. <_o3a_p>

"And I'd like also as quickly as possible to see this come to fruition, what we're talking about today. <_o3a_p>

"This is a critically important topic, nuclear fusion. <_o3a_p>

"It's a process of combining two elements, such as hydrogen, to create a heavier element and generate energy.<_o3a_p>

"That's what it's about, generating energy. <_o3a_p>

"It is the atomic reaction that powers our sun.<_o3a_p>

"And, if harnessed here on earth, offers unlimited, emission-free energy.<_o3a_p>

"Often considered the holy grail of energy production.<_o3a_p>

"This committee last considered nuclear fusion - doesn't seem that long - but it is actually two years ago we had the hearing on this, and since then, there has been some noteworthy progress that's been made.<_o3a_p>

"In December 2022, the Department of Energy announced that scientists at Lawrence Livermore National Lab achieved 'scientific breakeven.'<_o3a_p>

"This occurs when a fusion experiment produces more energy than it uses.<_o3a_p>

"Since then, the scientists at the Lawrence Livermore National Lab have been able to repeat this process on four additional occasions.<_o3a_p>

"Over the last two years, we have also witnessed growth of the fusion industry.<_o3a_p>

"In 2022, there were 33 fusion companies working on this in the private sector.<_o3a_p>

"Now, there are 45.<_o3a_p>

"According to the Fusion Industry Association, these companies have attracted over $7 billion of private investment, with over $900 million in new funding just in the last year.<_o3a_p>

"So it's clear that investors do see great potential in fusion.<_o3a_p>

"While these developments are encouraging, we need to remain clear eyed about the challenges ahead.<_o3a_p>

"There is no question that 'scientific breakeven' was significant.<_o3a_p>

"Yet scientists have not yet been able to reliably and consistently reproduce the reaction.<_o3a_p>

"Mastering 'scientific breakeven' is necessary before nuclear fusion can be commercially available.<_o3a_p>

"Another challenge that scientists face is converting fusion energy into electricity.<_o3a_p>

"To date, no fusion reactor has made it to this stage.<_o3a_p>

"Yet several fusion companies expect to put electrons on the grid in the next decade.<_o3a_p>

"Helion, one of our witnesses today, has signed a Power Purchase Agreement (PPA) to provide Microsoft with electricity by 2028.<_o3a_p>

"Helion has signed an agreement to provide electricity to Nucor, a steel producer, around 2030.<_o3a_p>

"I am interested to hear how the plans for Helion are to meet these ambitious commitments.<_o3a_p>

"Advances in fusion energy come at a time when America's demand for electricity is expected to grow rapidly. <_o3a_p>

"I brought an article here previously from the New York Times saying, by five years from now, that the need for energy nationwide would be like adding a new California to the grid as a result of all the areas where new energy is needed.<_o3a_p>

"Much of this demand is going to be driven by data centers powering artificial intelligence, bitcoin mining, and cloud computing, storage centers.<_o3a_p>

"If we can't provide these facilities with affordable and reliable power, America's going to cede its leadership position of these critical technologies.<_o3a_p>

"China understands this. They understand the race for artificial intelligence is also a race to secure the energy to power the computers.<_o3a_p>

"This is one reason why China is aggressively competing with us on fusion.<_o3a_p>

"Mr. Chairman, I think you and I talked about this Wall Street Journal article headline. This was Tuesday, July 9^th: 'Beijing Leads U.S. in Fusion Race.'<_o3a_p>

"That's this year. That is this year."<_o3a_p>

"Apparently it's fake news, but I'm not convinced. I'm concerned. It's a concern. <_o3a_p>

"It quotes Dr. Allain who leads the Department of Energy's fusion office and is one of our witnesses here today.<_o3a_p>

"According to your quote in this article, China appears to be following our road map of how to commercialize fusion energy.<_o3a_p>

"They have this ability to copycat what we do and then try to advance it in ways to get ahead of us, to leapfrog us."<_o3a_p>

"His quote is, 'They're building our long-range plan.'<_o3a_p>

"And, you say that it's very frustrating, as you can imagine, because that is the way China does it on so many things. <_o3a_p>

"So, I am interested to learn what we need to do to protect American interests and regain our competitive advantage.<_o3a_p>

"I would also like to learn how the Department can become a better steward of taxpayer dollars when it comes to fusion research.<_o3a_p>

"I want to thank you, thank the witnesses for being here. <_o3a_p>

"Thank you Mr. Chairman, and I look forward to the testimony. I know everyone here does.<_o3a_p>

"Thank you." <_o3a_p>

<_o3a_p>

FacebookTwitterEmail Print

Sign Up for Email Updates