U.S. energy bill clears House, but still faces White House opposition, Senate tussle

Mon, 2007-08-06 12:23Bill Miller
Bill Miller's picture

U.S. energy bill clears House, but still faces White House opposition, Senate tussle

The proposed bill, which aims to expand use of renewable fuels and cut tax breaks long enjoyed by major oil companies such as Exxon Mobil, Conoco and Chevron, also calls for more stringent efficiency standards for lighting and electrical appliances.

If passed in its current form, the bill would require all American utility companies to generate 15% of their energy from renewable sources by the year 2020. But it has to be merged with a very different approach taken by the Senate.

The 786-page House energy bill does not include an increase in fuel-efficiency standards for cars and light trucks, which supporters called the single most effective way of cutting oil consumption and reducing emissions.

The Senate version requires that cars and light trucks sold in the United States achieve a fleet average of 35 miles per gallon by 2020.

One of the bill’s goals is that the federal government, the world’s largest single energy consumer, be “carbon neutral” by 2050, meaning that all federal operations, including the Pentagon, would not produce a net increase in atmospheric carbon dioxide. The bill does not specify how the government is to achieve this.

Comments

… if they stopped sending jets over far-away nations to bomb people who never hurt them. Kind of like how they could reduce terrorism if they themselves stopped practicing it (which is how Chomsky phrased it, I think). They could also reduce the amount of CO2 they produce by reducing the size of their government. They don’t need to worry about 50 years from now – they should implement these three strategies right away!

House and Senate debate a bonus tax on bailed out companies, Wal Mart is doing just fine. If it passes the bonus tax won’t apply to Wal Mart. Wal Mart, the perennial retail heavyweight champion, has actually posted a pretty good year, and that’s the reason they’re giving cash advances out to their employees, down to the lowly stock people and cashiers. While larger firms invest a lot of money to make it look like they really do something, Wal Mart has actually done the work and posted profits. They shouldn’t have to pay a bonus tax.

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