“I’m a Democrat,” Will Rogers, political commentator and humorist from the ‘20s & ‘30s.
There’s a battle shaping up over the Energy Independence Bill that Congress hopes to pass this fall and it’s not just Dems vs Repubs. The House version, HR 3221 is due to be voted on in the next month or so. This is a new approach to energy policy in the United States and instead of concentrating on how to punch more holes in the ground and give bigger tax breaks to EXXON/Mobile it actually takes a long view of conservation and alternative energy production. And therein lies the rub.
The bill calls for a 25% increase in CAFÉ fuel economy standards, a four fold increase in bio fuel production and 15% of electricity generation to come from renewable sources over the next decade. In keeping with the new Democrat rule of pay-as-you-go the increased R&D into renewable energy will be paid for by recovering the $16 Billion in tax breaks to big oil given out by the last legislature—you know, the fiscally responsible Republicans. Although the bill has widespread support from the party at large there are strong pockets of resistance from within as well as from the loyal opposition.
Rep. John Dingell, (D MI; aka Ford, GM & Chrysler) is fighting the CAFÉ standards increase. The bill calls for an increase from an average 27 mpg to 35 mpg by 2020. The carmakers, who had a break from fuel economy increases since 1990, say it can’t be done. Yeah, and we couldn’t put a man on the moon in a single decade either. Dingle’s got a powerful ally in my own dear Smokey Joe Barton who opposes the new mileage standards and the tax recovery. Joe is also put out over the House rule that requires members to move to energy efficient cars if they are paid for with constituent money. I’m renting an 8,000 pound Chevy Tahoe with the largest V8 engine available to haul Smokey Joe from one constituent rented office to the other. But I digress.
Oil state reps of both parties object to stripping the tax cuts from big oil even though the industry showed the largest profits for any industry in history for two years in a row. EXXON alone had enough profit to pay their CEO half a Billion dollars in severance. The opposition to green renewable energy is at least split as there is a sizeable constituency of new eco-friendly energy providers who share influence with the conventional coal and gas energy producers.
I’d suggest you call your rep and ask him to support the strict standards in HR 3221 to give our children a fighting chance at clean air and a renewable future. Call Nancy Pelosi as Speaker of the House too. The phone number for Office of the Speaker is (202) 225-0100. Tell her to twist arms to keep the strict provisions of HR 3221 in tact.
http://money.cnn.com/news/newsfeeds/articles/djf500/200709111001DOWJONESDJONLINE000380_FORTUNE5.htmPosted in Texas forum as well.