The Obama administration will soon open the money spigots for billions of dollars in energy and environmental investments.

That was the message from Matt Rogers, senior adviser to Energy Secretary Steven Chu, and Jason Grumet, president of the Bipartisan Policy Center and an Obama adviser on energy. They talked to The Wall Street Journal's Alan Murray and Kimberley A. Strassel. Here are edited excerpts of their discussion:

Money on the Way

ALAN...