Energy Bills - Good for the Environment and the Economy.
Last summer’s energy bills were not good for the environment.
Yes, both houses of Congress passed energy bills “oriented toward increasing energy efficiency and boosting renewable power and biofuels.” But the House version had no Corporate Average Fuel Economy program (CAFE) car mileage mandate, thanks to the shortsightedness of Michigan Rep. John Dingell, (who believes himself to be an auto industry champion, but is killing the patient), and the Senate version had no Renewable Electricity Standard (RES) due to strong opposition from Senate Republicans. People who think about sustainable economies and environmentalists wanted both mandates in a final bill.
The final bill now includes a 35 mpg CAFE standard, an Renewable Electricity Standard of 15 percent, and 21 billion dollars of investment in the renewable energy economy.
Among other things, the 21 billion dollars will fund production tax credits for solar and wind power over a four-year period; it will fund research and development programs for renewable energy and job training programs for solar power installers; and it will fund individual tax credits for solar energy, home weatherization and purchase of fuel efficient vehicles like plug-in hybrid cars.
And 50 billion dollars in loan guarantees for new nuclear plants were dropped from the Senate version. (They were in the summer’s version.
While the Republicans like subsidizing the nuclear industry, and they like subsidizing the oil industry, they don’t like the Renewable Electricity Standard and the $21 billion tax package that will fund the bill, especially the $13.5 billion in higher taxes on oil companies. President Bush warned that he is likely to veto the bill if it passes the Senate. Sen. Pete Domenici said, “If it comes over here, we have no alternative but … war.” One sardonic environmentalist said “This war is as well thought out as the War in Iraq. Texas Sen. Kay Bailey Hutchison, who put a hold on the bill back in October, called the tax increase “discrimination against one industry.” (Please note that Hutchison received $284,000 in contributions from the oil and gas industries in 2005 and 2006, (click here) and a total of$1.3 million as of May, 2001 (click here).
The Republicans will fall on their swords. Then they will return as lobbyists. Truthout. Houston Chronicle. Washington Post. LA Times.
