New House bill highlights US energy instability

12/17/2007
When US lawmakers fret about energy supply from unstable regimes, they should look closely at themselves.In the Energy Policy Act of 2005 (EPACT), which became law, Congress created a bundle of incentives for a variety of energy forms, including a few selective tax breaks for oil and gas.That bill contained one big move and one big omission. The big move was a mandate for vehicle fuels made from renewable sources—mainly ethanol. The big omission was meaningful opening of access to federal land off-limits to oil and gas drilling.The big move and big omission combined to make EPACT, whatever its other virtues, a big error.This year, with Democrats newly in control, both houses have rev...
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