021712 Sen Bingaman asks Secretary Chu about quadrennial review

Secretary Bingaman asks Secretary Chu about the quadrennial review. Secretary Chu explains this was the first in history of USDOE, allowing the department to "step back" and ask how to ensure agency funding is spent where "taxpayer dollars will do the most good" as based upon where the private sector is already active. The example is provided of shale gas research being stopped when the private sector began investing its own money. This review started preparing for long-term planning required for energy projects, which are "60-70 year investments."