Next week, the Senate plans to consider the Energy Improvement and Extension Act of 2008, a hodgepodge of subsidies and tax credits that reflects the vacuum of long-term strategic thinking in U.S. energy policy.
The bill is a classic Senate Christmas Tree, bedecked with tax breaks and loopholes for just about every energy-related industry under the sun.
Unbelievably, the renewable tax credits get another anemic extension -- one year for wind (and "refined coal") and two for other renewables. The cycle of short-term, political-whim-based, industrial policy has constrained growth in renewables for years, but it seems to work for those with the whims.
There are also favors for building efficiency, plug-in hybrids, carbon capture and sequestration, oil shale, tar sands, coal-to-liquid fuels, cellulosic ethanol, bicycles, enhanced oil recovery ... the list goes on.
Is the good stuff worth the bad? A sizeable coalition of environmental groups says no. The National Wildlife Federation concludes that "the increased global warming pollution and destruction of important wildlife habitat that would result from the oil shale, tar sands, and CTL provisions in H.R.6049 outweigh the benefits of [the bill's] clean energy incentives."
The real tragedy isn't just that the bad goodies outweigh the good goodies, but that even now, in the midst of converging energy supply and climate crises, all we can manage is another goodie bag. Where is the vision, the sense of direction, the performance standards and metrics? What's the goal? Anything beyond getting through another election?
Mark Warner (D-Va.)
Comments
View as Threaded
GreyFlcn Posted 2:20 pm
19 Sep 2008
_
It has all the other undesirables though. Like the "Refined" Coal Production Tax Credit, Coal Sequestration Credit, Liquid Coal Credit, and a removal of all taxes on exported Coal.
_
Also looks like I have a better definition of "Refined Coal".
`(7) REFINED COAL-
`(A) IN GENERAL- The term `refined coal' means a fuel which--
`(i) is a liquid, gaseous, or solid synthetic fuel produced from coal (including lignite) or high carbon fly ash, including such fuel used as a feedstock,
`(ii) is sold by the taxpayer with the reasonable expectation that it will be used for purpose of producing steam,
`(iii) is certified by the taxpayer as resulting (when used in the production of steam) in a qualified emission reduction, and
`(iv) is produced in such a manner as to result in an increase of at least 50 percent in the market value of the refined coal (excluding any increase caused by materials combined or added during the production process), as compared to the value of the feedstock coal.
`(B) QUALIFIED EMISSION REDUCTION- The term `qualified emission reduction' means a reduction of at least 20 percent of the emissions of nitrogen oxide and either sulfur dioxide or mercury released when burning the refined coal (excluding any dilution caused by materials combined or added during the production process), as compared to the emissions released when burning the feedstock coal or comparable coal predominantly available in the marketplace as of January 1, 2003.'.
http://www.treepower.org/section45.html
-David Ahlport
Permalink
Tasermons Partner Posted 6:08 am
20 Sep 2008
Did they change it so suddenly?
Permalink
GreyFlcn Posted 4:24 pm
20 Sep 2008
1 Year for Hydro
2 Years for Wind
8 Years for Solar
http://www.senate.gov/~finance/sitepages/leg/LEG%202008/0 ...
-David Ahlport
Permalink