The U.S. House of Representatives on Thursday passed a 1,700 page energy bill containing tax credits worth nearly $14.6 billion to industry.
The incentives would be dispersed among oil, natural gas, electricity, nuclear and renewable energy companies.
The House adopted the bill in a lopsided vote of 275-156, drawing support from 75 Democrats.
The Senate was slated to vote on final passage of the legislation, the Energy Policy Act of 2005, Thursday evening.
The last time Congress passed legislation overhauling energy policy was in 1992. The bill has been a top domestic priority for President Bush…….
The bill would boost the nation’s use of clean-burning biofuels, by mandating U.S. refiners blend 7.5 billion gallons of renewable biofuel into the nation’s fuel supplies by 2012. The bulk of this requirement is expected to be met with the production of the corn-based additive ethanol. Ethanol-blended gasoline burns cleaner.
As pointed out earlier here, it does a lot more than they are emphasizing. I want my nuclear reactors and I WANT THEM NOW! The country will rely less on foreign fuels when it doesn’t NEED foreign fuels. We would never get there with the policies we had. The media fails to mention any of that.
Technorati Tags: Fed Policy, Government, National Politics, Oil Policy, Oil Supply
Tags: Fed Policy, Government, National Politics, Oil Policy, Oil Supply
1 Comment »
on 30 Jul 2005 at 12:16 pm 1.Bryan Kerwick
said …
I’m still going for the Hydrogen fuel angle. The by-products are essential as is the energy. There will also be less resistance from the big oil and auto manufacturing companies as they can relatively easily adapt to the newer fuel. BMW already has a car that does more than 200 MPH and the by-products of oxygen and water make this form of energy the most practical.