Senate Dems Push New Energy Bill;
Seek to Reduce Oil Imports by 40 percent
Senate Democrats have unveiled what they call sweeping new legislation that will put America on the road to energy independence by 2020.
Senate Democrats have unveiled what they call sweeping new legislation that will put America on the road to energy independence by 2020.
The Clean Energy Development for a Growing Economy (EDGE) Act calls for a major investment in the research, development, and production of the alternative energy vehicles, fuels, and technologies.
Senators also released a letter to President Bush signed by 43 Senate Democrats calling on the president to join Democrats in support of the five main principles of the Clean EDGE Act to break America’s dependence on foreign oil.
The bill, if passed, will launch an aggressive effort to increase the number of alternative fuel vehicles sold; protect consumers from gas price gouging and market manipulation; reduce dependence on fossil fuels; and level the playing field for new renewable and energy efficient technologies, the Democrats say.
“The Clean EDGE Act is a major step forward on America’s path to energy independence,” says Senate Democratic Leader Harry Reid. “Our nation’s energy problem is not new. It has taken years of failed policies to get us to the present crisis. Fortunately, Democrats have a comprehensive solution. With this bill, and under our leadership, America will be energy independent by 2020.”
This new legislation is the latest in EI2020, the campaign to make America energy independent that Democrats announced last October. Democrats say that skyrocketing gas prices and the national security risk of America’s oil addiction make an immediate campaign for energy independence all the more important.
The Clean EDGE initiative begins with an aggressive goal: to reduce U.S. petroleum consumption by 6 million barrels a day in 2020 — or 40 percent of America’s projected imports.
Specifically, the bill addresses the following:
- Providing certainty to emerging technologies: Rather than subsidizing the mature petroleum industry, the Clean EDGE Act will use these savings to provide greater certainty for clean energy development, by extending incentives for renewable energy and efficiency technologies.
- A serious federal commitment: The federal government is the single largest energy consumer in America. The Clean EDGE Act requires the Federal government reduce its petroleum consumption by 20 percent in five years and 40 percent by 2020, increase its renewable electricity use to 10 percent of total consumption by 2013, and employ advanced, efficient, and renewable technology to help drive innovation and jumpstart markets.
- Renewable electricity: To help reduce America’s reliance on fossil fuels and reduce greenhouse gas emissions, the Clean EDGE Act sets a national renewable portfolio standard requiring that 10 percent of all electricity produced in the country come from renewable sources by 2020.
- ARPA-E: The Clean EDGE Act will create an Advanced Research Projects Agency for Energy (ARPA-E) to develop cutting-edge technologies that will reduce oil consumption, improve electricity efficiency and reliability, and reduce greenhouse gas emissions.
- Flex-Fuel Vehicles: The Clean EDGE Act accelerates the conversion of American vehicles to flexible fuel technology. The legislation mandates that 25 percent of new vehicles sold in the U.S. by 2010 be flex-fuel capable, rising to 50 percent by 2020. Flexible fuel vehicles can run on higher blends of biofuels, which helps displace petroleum and provide competition at the gas pump.
- Accelerating Infrastructure Conversion: A major barrier to using flex fuel vehicles to reduce petroleum consumption is the lack of refueling stations that provide biofuels. The Clean EDGE Act sets a national goal of installing alternative fuels at 10 percent of American gas stations by 2015. To help achieve it, the legislation will provide additional tools to individual retailers, along with support to local governments that partner with private industry to establish alternative refueling corridors in different parts of the country. In order to break the oil industry’s lock on the gas pump, it also requires major integrated oil companies that own refueling stations to install alternative fuel pumps.
- Hybrids and Advanced Vehicle Technology: The Clean EDGE Act will accelerate and extend incentives to purchase and manufacture vehicles that rely on advanced fuel efficiency technologies.
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