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Washington, D.C. Senate Majority Leader Harry Reid released details of a newly drafted energy bill yesterday. The bill is more notable for what's not in it, than what is in it.
After a strong push by the renewable energy industry – lead by the wind industry – the latest Senate bill does not include a national target for renewable energy. It also excludes an extension of incentives like the production tax credit (which expires at the end of next year) and the Treasury grant program (which expires at the end of this year). Along with a Renewable Electricity Standard (RES), both of those items are on the top of the priority list for industry advocates.
The bill sets aside $15 billion for energy efficiency programs, water conservation and new transportation technologies based on natural gas and electricity. The bill also raises the liability cap on offshore oil drillers if they spill oil. That provision addresses a politically-charged issue, but does little to help the grow wind, solar, geothermal, hydro and biomass technologies that can help shift the energy equation, say industry groups.
Just yesterday, the American Wind Energy Association released figures showing that Q2 wind figures had dropped 71% from the same time period in 2009. The poor economy, the lack of a national RES, and the uncertainty around the Treasury grant program have all been factors.
“We need these passed. Otherwise, we risk severely hurting this industry,” said AWEA CEO Denise Bode in a conference call yesterday.
As industry and environmental groups have pushed for an increasingly-unpopular comprehensive climate bill, the opportunity to pass these smaller programs has been diminished. With fall mid-term elections coming up, the window for any action on such items has been virtually closed.
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Anonymous
July 30, 2010
Lenny59, Your an idiot! I guess you and the others like you have no problem by giving subsidies to the oil/gas, nuclear, coal and utility industries. If you think its a waste to give subsidies to renewable energy than cut all subsidies. Put renewables on a level playing field, then watch where the cost increases go for fuel and power. Then Americans will be paying the true cost for energy. I am sick and tired of you people that come on sites or where ever else and say if renewables are so good why do they need subsidies. I was always under the impression that subsidies were for new and emerging technologies like the fossil fuel industry when they were first developing in the 19th and then into the 20th century. But I guess you have no problem giving tax dollars to companies that rake in over a billion dollars every quarter of the year in profits. Maybe if you and a few other people would educate themselves, you will see how much more other dollars come out of taxpayers that get funneled to these companies. Lenny, our country developed these technologies, but because of these industries with their influence in D.C. are controlling their destiny. At least with wind and solar you personally could lower you operating costs of your home, plus give more valuation to your home on the market. This in turn would allow you to purchase another case or two of Budwieser. Oh, buy the way, if you did not know, Budwieser is foreigned owned. One more item, I do like beer! Have a great day and maybe find out how much of your money is going to big oil/ga, big coal, nuclear industry and the utilities who bad mouth Europe and say they are socialists. Well in Europe, you can pick the utility you want, based on price and service. Here you have know choice. Where is the free market and where is the monopoly. Wake UP, we in the renewable industry are on your side because we pay taxes too and I love this country!
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