Hilliary's Energy Policy
The Senator waxed enthusiastic on this topic recently at the National Press Club.
“Our present system of energy is weakening our national security, hurting our pocketbooks, violating our common values and threatening our children's future. Right now, instead of national security dictating our energy policy, our failed energy policy dictates our national security.” “Today I want to suggest a concrete goal of reducing our dependence on foreign oil 50 percent by 2025, a reduction in oil consumption of just under 8 million barrels a day. I believe a 50 by 25 initiative will energize our economy, not undermine it.”
Senator Clinton announced that she is introducing legislation to create a “Strategic Energy Fund” to help pay for the clean energy transition. The legislation places a temporary fee on major oil company profits that exceed a 2000-2004 profit baseline. The fee would be in place for two years, and companies could offset their fee by investing in refinery capacity, ethanol production, or electricity generation from wind and other renewable sources. The proposal also eliminates oil company tax breaks that the companies have said they don’t need, and ensures that oil companies pay their fair share of royalties for drilling on public lands. It would raise more than $50 billion to fund research, development and deployment of energy technologies that will reduce America’s oil dependence and greenhouse gas emissions. The Strategic Energy Fund will:
• Invest in Renewable Energy. Move America towards the goal of producing 20 percent of electricity from renewable sources by 2020 by extending the production tax credit for generating electricity from wind and other renewable sources for 10 years.
• Transform America’s Vehicles. Put more efficient vehicles on the road by doubling the consumer tax breaks for hybrids, clean diesel, and other advanced vehicles, and creating a tax incentive for fleet owners to purchase more efficient vehicles.
• Accelerate Homegrown Biofuels. Speed the development of cellulosic ethanol by providing loan guarantees for the first billion gallons of commercial production capacity, and providing $1 billion for research.
• Speed Infrastructure Conversion. Increase availability of “E85” fuel pumps to 50 percent of gas stations by 2015 by providing gas station owners with a 50% tax credit for the cost of installing pumps.
• Unleash American Ingenuity. Accelerate energy research by creating a $9 billion “Advanced Research Projects Agency” for energy.
Senator Clinton also discussed renewable electricity, clean coal technology, and making better use of the strategic petroleum reserve to buffer the economy from oil price shocks.
“Our present system of energy is weakening our national security, hurting our pocketbooks, violating our common values and threatening our children's future. Right now, instead of national security dictating our energy policy, our failed energy policy dictates our national security.” “Today I want to suggest a concrete goal of reducing our dependence on foreign oil 50 percent by 2025, a reduction in oil consumption of just under 8 million barrels a day. I believe a 50 by 25 initiative will energize our economy, not undermine it.”
Senator Clinton announced that she is introducing legislation to create a “Strategic Energy Fund” to help pay for the clean energy transition. The legislation places a temporary fee on major oil company profits that exceed a 2000-2004 profit baseline. The fee would be in place for two years, and companies could offset their fee by investing in refinery capacity, ethanol production, or electricity generation from wind and other renewable sources. The proposal also eliminates oil company tax breaks that the companies have said they don’t need, and ensures that oil companies pay their fair share of royalties for drilling on public lands. It would raise more than $50 billion to fund research, development and deployment of energy technologies that will reduce America’s oil dependence and greenhouse gas emissions. The Strategic Energy Fund will:
• Invest in Renewable Energy. Move America towards the goal of producing 20 percent of electricity from renewable sources by 2020 by extending the production tax credit for generating electricity from wind and other renewable sources for 10 years.
• Transform America’s Vehicles. Put more efficient vehicles on the road by doubling the consumer tax breaks for hybrids, clean diesel, and other advanced vehicles, and creating a tax incentive for fleet owners to purchase more efficient vehicles.
• Accelerate Homegrown Biofuels. Speed the development of cellulosic ethanol by providing loan guarantees for the first billion gallons of commercial production capacity, and providing $1 billion for research.
• Speed Infrastructure Conversion. Increase availability of “E85” fuel pumps to 50 percent of gas stations by 2015 by providing gas station owners with a 50% tax credit for the cost of installing pumps.
• Unleash American Ingenuity. Accelerate energy research by creating a $9 billion “Advanced Research Projects Agency” for energy.
Senator Clinton also discussed renewable electricity, clean coal technology, and making better use of the strategic petroleum reserve to buffer the economy from oil price shocks.
posted by Anonymous | 12:37 AM
2 Comments:
Maureen Dowd has her take on this in today's NY Times. She thinks Hillary is trying to steal Al Gore's thunder.
Sounds about right to me.
More power to all of them to steal each other's thunder -- and let the chips fall as they may in the spring of 2008. It's becoming clear that Democrats really need to work the refs (the press) to be be true to the reasons they went into the field in the first place: that when it comes to choosing our national leaders, policy matters 50 times more than jokes told while drinking beer or sexual practices. There needs to be a full-bore attack on reporters (and their enabling editors) who focus on the irrelevant stuff, and put down serious candidates as "wonks" or "nerds" presenting stuff that's "boring" or "mind-numbing," or with "soporific" or "excruciating" detail -- pick your clever adjective.
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