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ANWR Drilling Royalties to Fund Renewable Energy?

Last week, Congressman Devin Nunes (R-Tulare, CA) introduced a bipartisan Bill titled the American-Made Energy Freedom Act, which takes a unique approach to funding alternative energy development. By opening up the Arctic National Wildlife Refuge (ANWR) to oil exploration, and placing the lease and royalty revenues generated into a trust fund, the next generation of homegrown energy would be incubated, says the Congressman.

All monies placed in the American-Made Energy Trust Fund can only be used for the development of new homegrown technologies that will fuel America in the future. The Bill, of course, will have to compete with a flurry of energy legislation put forward by Congress this summer. "Congress has a responsibility to deal with our nation's energy demands in a bipartisan manner that benefits all Americans. As such, we have proposed the largest investment in alternative energies in the history of the United States and, most importantly, it can all be done at no expense to the taxpayer," said Rep. Nunes. The Bill's proponents say the fund would support the following provisions: -- Cellulosic Ethanol Tax Credit. Cellulosic Ethanol, the next generation ethanol, is a renewable fuel produced from plants and agriculture waste, which can be found in all 50 states. This can be developed as a primary fuel for cars and trucks to potentially displace our dependence on foreign oil. -- Coal-to-Liquid Tax Credit. Coal liquefaction can produce a virtually sulfur-free diesel fuel that is cleaner than conventional diesel and can also produce jet fuel. This technology could produce approximately 2.6 million barrels of fuel (109 million gallons) per day by 2025 and meet 10% of projected U.S. oil demand, according to Nunes. -- Solar and Fuel Cell Investment Tax Credits. Extends the residential and business tax credit through 2012. In California, residential solar installations rose 53% in 2004, thanks to a generous state rebate program. This could be magnified with expanded federal incentives. -- Fund Emerging Renewable Fuels Development. Allocate funds to the Advanced Biofuel Technologies Program, the Integrated Biorefinery Demonstration and University Biodiesel Programs, the Improved Biomass Use Grant Program. Proposed programs designed to foster the production technology, facility construction, and capacity improvements for renewable fuels. -- Fund Clean and Advanced Energy Loan Guarantee Program. Provide financial commitment by investing in projects that avoid, reduce or sequester air pollutants and greenhouse gases.


Renewable Energy Finance

Clean Energy ETFs Are on a Tear

Eric Balchunas, Bloomberg Green investing used to be synonymous with losing money. But while the S&P 500 Index is up 2 percent this year, and the MSCI All-Country World Index is up 5 percent, clean energy ETFs have double-digit re...

Wheels, Towers and Trees: Unconventional Renewable Energy Technologies in the Pipeline

Andrew Williams, International Correspondent A number of companies around the world are developing novel technologies in an effort to grab a slice of the global renewable energy market.  Although many of these technologies are simple incremental improvements to e...
UK Parliament Clean Energy Leaders

UK Government Names Clean Energy Cabinet Members

David Appleyard, Contributing Editor With the UK general election now over and a majority Conservative Party government in place, the re-elected Prime Minister David Cameron has now named key members of the government charged with steering the UK’s clean energ...

Coast to Coast and Across the Electric System, Microgrids Provide Benefits to All

Dick Munson, Environmental Defense Fund At the most obvious level, microgrids could disrupt today’s utilities and their regulated-monopoly business model, because they challenge the centralized paradigm. In a nutshell, microgrids are localized power grids that ha...


Volume 18, Issue 3


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