U.S. Energy Secretary Rick Perry delivers a speech at the CERAWeek meeting in Houston, Texas, the United States, on March 7, 2018. The United States is embracing "new energy realism" with the help of industrial innovation and technological improvement, Rick Perry said in Houston on Wednesday. (Xinhua/Liu Liwei)

HOUSTON, March 7 (Xinhua) -- The United States is embracing "new energy realism" with the help of industrial innovation and technological improvement, U.S. Energy Secretary Rick Perry said in Houston in the state of Texas on Wednesday.

"The new energy realism rests on the fact that American is amid an incredible energy revolution...This dramatic process is a decisive break from the 1970s, when American followed a flawed policy," Perry spoke at five-day CERAWeek meeting by IHS Markit that kicked off on Monday.

Recalling the old pessimistic view of U.S. energy strategy in the 1970s, Perry said there was commonly accepted claim that the days of energy abundance were over, and that if new reserves were found it would be too costly to retrieve or they would harm the environment.

Perry argued that the truth was there was not a shortage of energy, but a shortage of innovation. Thanks to industrial innovation and technological breakthroughs, the U.S. has moved from an era of "perceived energy scarcity to one of unprecedented energy abundance."

"Beyond the beltway, innovation was revived," Perry said. "With innovation came a revolution in energy technology."

He said that the national labs have helped make those technologies reality.

"This approach has science and innovation leading the way and the results have been spectacular. Costs fell, efficiencies increased, and results blossomed," he said.

CERAWeek is an annual energy meeting featuring prominent speakers from the energy, technology and finance sectors. More than 3,000 guests from over 50 countries and regions attended this week's meeting.