Any bill that has the energy producers and utility companies publicly gleeful cannot be good for the country. Where are the incentives to increase efficiency? to lower pollution? increase use of alternative, clean energies like solar, wind? Instead, just more crony capitalism, tax breaks to companies who already have more cash than they know what to do with, and public subsidies to nuclear and coal companies (risk is owned by tax-payers, profits are owned by the utility).
WSJ.com - Congress Is Set To Approve Energy Bill:
“This couldn't have come at a more crucial time,” said Tom Kuhn, president of the Edison Electric Institute. He said that, amid last week's sweltering heat, the nation's power demands rose 3% above the record set in 2002.
Mr. Kuhn said members of his organization -- including utilities that produce 75% of the nation's electricity -- “are really happy” with the bill, which includes $11.5 billion in tax incentives and policy measures to improve investment in the power grid, develop nuclear and clean coal-fired power plants, and help utilities buy pollution-control equipment. The bill provides mandatory standards for operating the nation's power grid, a measure designed to prevent the spread of blackouts.
Representatives of other energy producers, including oil, nuclear, coal and solar energy -- along with ethanol-producing farmers -- were pleased, too. A number of problems affecting these groups have evolved from a lack of federal energy policy.
...
“We believe this provides the foundation for continued use of coal,” said Carol Raulston, senior vice president of the National Mining Association, which represents coal producers. The measure will help coal producers with new research for cleaner-burning coal, federally funded demonstration programs and loan guarantees to build the first of a new generation of coal gasification plants. It invests in “sequestration” projects designed to inject carbon-dioxide emissions, thought to be a cause of climate change, deep into the ground.Sara Banaszak, a senior economist at the American Petroleum Institute, said oil companies are pleased with a number of provisions in the bill, including authorization for the Interior Department to conduct the first high-technology survey of the nation's offshore-oil resources. “We think there's a great deal of resource available there that has been held off limits to consumers,” she said.
from the Washington Post, more details of the deep tongue kiss to the energy companies:
Negotiators omitted a provision that would have granted manufacturers of the gasoline additive MTBE protection from product-defect lawsuits -- a measure that was unpopular in the Senate.They also dropped Senate provisions requiring that more electricity be produced from renewable sources and calling on the president to cut oil consumption by 1 million barrels a day by 2015.
...
Some Democrats and environmentalists said the bill would shower subsidies on the energy industry, including many companies that have reaped record profits because of high oil prices.“This is a huge giveaway for the oil and gas industry,” said Rep. Edward J. Markey (D-Mass.). “The bill just tips the American consumer and taxpayer upside down and shakes money out of their pockets. The bill is an historic failure.”
Granted, a few crumbs for solar power, but not enough to even notice.
more nuggets from the Boston Globe:
Negotiators reach pact on a broad energy bill - The Boston Globe - Boston.com - Washington - News:
Representative Edward J. Markey, a Malden Democrat who was on the panel that negotiated the bill, called the product ''an historic failure“ that increases profits for big-money energy conglomerates.
''This bill is a huge giveaway to the wealthier interests in this country,” Markey said. ''It is a political and moral failure.“
Karen Wayland, legislative director for the Natural Resources Defense Council, said Congress intends to reward big oil and gas companies and clearly supports keeping the energy industry rooted in sources of the past rather than planning for the future.
''What's the point of an energy bill that doesn't save energy?” Wayland said. ''It will prolong and possibly worsen our dangerous dependence on oil. . . . Clearly nothing good can come from this bill.“
and what's a little nuclear waste among friends...not to mention some off-shore drilling near coastal cities?
The measure could usher in a new era for the nuclear power industry, which has not commissioned a new plant in more than 30 years.
Two nuclear power plants are planned, and the industry would get billions of dollars in loans, research and development grants, along with special ''risk-guarantee” insurance that would guard against delays in winning licenses for new plants.
The bill requires producing an inventory of current offshore oil and gas resources by authorizing limited drilling in coastal areas that are now off-limits, particularly off California and Florida.
The measure also provides $500 million in government money over 10 years to research ''ultra deepwater and unconventional drilling“ --an item that GOP leaders tucked into the measure early yesterday morning, after the conference committee had finished its work, Markey said.
Bleh. Thanks Red States, really appreciate it.
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