US Senate passes multi-billion dollar energy bill - Sify.com
US Senate passes multi-billion dollar energy bill - Sify.com:
"'We cannot order Americans to buy smaller cars, little tiny cars, and we can't order them to stop buying cars,' said New Mexico Republican Pete Domenici.
Senator Barack Obama, a rising star in the Democratic Party, though voting for the bill, said it also represented a missed opportunity. 'I would insist that, in the next year or two, we immediately address the issue of how we can wean ourselves off Middle Eastern oil,' he said.
The energy bill provides around 14.5 billion dollars in tax breaks, most going to traditional energy companies, though some will be funnelled to alternative energy solutions such as wind farms.
It provides a tax credit for the construction of stations to make ethanol-based additives to gasoline, which could eventually save thousands of barrels or imported oil.
The nuclear power industry also looks set to benefit, with incentives which could lead to the construction of new nuclear power plants for the first time in many years.
People who buy hybrid cars can get a tax credit of up to 3,400 dollars under the legislation, and there are also incentives for people who outfit their homes with energy saving windows and insulation.
It is still possible that drilling in Alaska's Arctic National Wildlife Refuge will be inserted in other legislation later this year. "
"'We cannot order Americans to buy smaller cars, little tiny cars, and we can't order them to stop buying cars,' said New Mexico Republican Pete Domenici.
Senator Barack Obama, a rising star in the Democratic Party, though voting for the bill, said it also represented a missed opportunity. 'I would insist that, in the next year or two, we immediately address the issue of how we can wean ourselves off Middle Eastern oil,' he said.
The energy bill provides around 14.5 billion dollars in tax breaks, most going to traditional energy companies, though some will be funnelled to alternative energy solutions such as wind farms.
It provides a tax credit for the construction of stations to make ethanol-based additives to gasoline, which could eventually save thousands of barrels or imported oil.
The nuclear power industry also looks set to benefit, with incentives which could lead to the construction of new nuclear power plants for the first time in many years.
People who buy hybrid cars can get a tax credit of up to 3,400 dollars under the legislation, and there are also incentives for people who outfit their homes with energy saving windows and insulation.
It is still possible that drilling in Alaska's Arctic National Wildlife Refuge will be inserted in other legislation later this year. "
posted by Marcel at 5:45 AM
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