The BBC reports an easy move to victory, with 90 republicans supporting the bill, the House of Representatives passed a new energy conservation and research bill.
This is expected to reduce oil demand by up to four million barrels a day by 2030 and, its supporters claim, lower motorists’ costs by up to $1,000 (£500) a year.
The pursuit of alternative energy sources will focus on ethanol, with production set to increase fivefold to 36 billion gallons a year by 2020.
Here’s what the White House has to say about it: (Italics mine)
To Encourage Conservation And Energy Efficiency, The Energy Bill:
Establishes new energy efficiency standards for a wide variety of consumer products and commercial appliances, and offers tax incentives to encourage their purchase
Encourages improved efficiency in homes and buildings, establishes new aggressive Federal energy savings goals, and reauthorizes the Energy Savings Performance Contract program to conserve more energy at Federal facilities
Offers tax incentives to consumers to purchase energy-efficient hybrid, clean diesel, and fuel cell vehicles
Requires a new, multi-year rulemaking by the Department of Transportation to increase fuel economy standards for passenger cars, light trucks, and SUVs
To Expand The Use Of Alternative And Renewable Energy, The Energy Bill:
Establishes a new Renewable Fuel Standard that requires the annual use of 7.5 billion gallons of ethanol and biodiesel in the nation’s fuel supply by 2012
Extends the existing tax credit for production of electricity from renewable resources, such as wind, biomass, and landfill gas, and creates for the first time a tax credit for residential solar energy systems
Authorizes full funding for the President’s Hydrogen Fuel Initiative Provides Federal risk insurance and extends the Price-Anderson Act to mitigate the potential cost of unforeseen delays and encourage investment in a new generation of safer, more reliable, and more proliferation-resistant nuclear power plants
To Increase The Domestic Production Of Conventional Fuels, The Energy Bill:
Makes needed reforms to clarify the onshore oil and gas permitting process, and reduce conflicts with other laws and regulations (stormwater, CZMA, hydraulic fracturing)
Clarifies FERC jurisdiction over siting of onshore LNG facilities to accelerate development of a global market in natural gas and help reduce prices for U.S. consumers
Authorizes full funding for the President’s Clean Coal Research Initiative and updates Federal coal leasing laws
Eliminates the 2 percent “oxygenate requirement“ for reformulated gasoline, to improve the flexibility of our fuel supply and reduce the number of “boutique fuels”
To Encourage Investment In Modernization And Reliability Of Our Energy Infrastructure, The Energy Bill:
Requires mandatory reliability standards to make the electric power grid more reliable and protect against blackouts
Reforms outdated tax laws to expand investments in electric transmission and generation facilities
Establishes last-resort Federal siting authority for transmission lines deemed in the “national interest” to ensure a better functioning power grid
The Energy Bill Also Helps Reduce The Global Demand For Energy By:
Working with our international partners – including fast growing nations like China and India – to encourage them to deploy the cleanest and most efficient energy technologies as they develop and grow their economies