New House bill highlights US energy instability

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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