Renewable Energy Bill: H.R. 969

“Global warming ,terrorism and all the others soon become a WarOn. WarOns create jobs with tax payers money. It's a new form of Yankee ingenuity since all the brains have hidden away for years.”

“You remind me of Q*Bert.”

“WASHINGTON - Declaring a new direction in energy policy, the House on Saturday approved $16 billion in taxes on oil companies, while providing billions of dollars in tax breaks and incentives for renewable energy and conservation efforts.

Republican opponents said the legislation ignored the need to produce more domestic oil, natural gas and coal. One GOP lawmaker bemoaned "the pure venom ... against the oil and gas industry."

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One GOP lawmaker bemoaned "the pure venom ... against the oil and gas industry."

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The two bills, passed at an unusual Saturday session as lawmakers prepared to leave town for their monthlong summer recess, will be merged with legislation passed by the Senate in June.

On one of the most contentious and heavily lobbied issues, the House voted to require investor-owned electric utilities nationwide to generate at least 15 percent of their electricity from renewable energy sources such as wind or biofuels.

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The bill would repeal for oil companies a tax breaks given in 2004 to help domestic manufacturers compete against foreign companies, and another tax break pertaining to income from foreign oil production.

http://www.msnbc.msn.com/id/20124921/
last edited: 8/05/07 3:43:37 PM”

“We'll see what it looks like when it comes out of conference in the Fall ---”

“True! It's a step! A big one!”

“Another article about both bills at this site today. http://www.renewableenergyaccess.com/rea/home

It will be a good day for the US if this passes the conference in the fall, and then passes house/senate. Of course Bush is threatening to veto...”

“They'll just pass the cost onto you, the consumer.

Calling for more taxes ..... time to head to Boston.”

“"It's about our children, about our future, the world in which they live," Pelosi said.

(there's a red flag right there)

The sad part is, as we are FORCED to get away from using fossil fuels, countries with less stringent controls will be the ones to burn out the flame. So much for saving the environment. Can I getta witnessha!?”

“Thanks for the link --- cool site.”

“Mommy Nancy, what kind of ear mark am I getting this xmas? Don't worry little ones. It will be something to help you maintain your #1 consumer status.”

“No prob, tilt.”

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House v. Senate versions ----

SOLAR AND WIND POWER: House requires electric utilities to produce 15 percent of electricity from renewable energy sources. Senate has no such requirement.

ENERGY CONSERVATION: House has new efficiency standards for appliances, lighting and buildings, and creates bonds to be used by cities and counties for energy conservation. Senate has appliance and lighting efficiency standards.

FUEL ECONOMY: House bill has nothing on automobile fuel economy. Senate bill increases auto mileage requirement to 35 mpg by 2020 for cars, SUVs and small trucks, about a 40 percent increase.

ETHANOL: House bill has no mandate on ethanol use as a replacement for gasoline. Senate requires a sevenfold increase in ethanol use to 36 billion gallons a year by 2022. House provides tax credits for installing E-85 pumps. Senate requires half of new cars manufactured by 2015 be capable of running on E-85.

HYBRID CARS: House provides tax breaks, subsidies for research into better batteries for plug-in hybrid cars and up to $4,000 tax credit for purchasing such cars. Senate provides loan guarantees and other assistance for advanced diesel and hybrid battery technology.

CARBON DIOXIDE: House calls for an assessment of areas for underground carbon dioxide storage and calls for developing large-scale storage demonstration projects. Senate has similar provision.

PRICE GOUGING: House bill has no provision. Senate makes it unlawful to charge an "unconscionably excessive'' price for oil products, including gasoline.


Source: "House OK's $16 Billion in Oil Company Taxes." Houston Chronicle, August 5, 2007.

http://www.chron.com/disp/story.mpl/front/5027513.html.

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