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The EISA effect

03/10/2008
A champion of last year’s energy bill reads too much into a revision by the Energy Information Administration of its long-term outlook for US energy. The Energy Independence and Security Act of 2007 (EISA) is still a bad law.Whatever benefits EISA might achieve by toughening fuel-economy standards for new vehicles it will more than offset by hiking the renewable fuel standard to high, possibly unfeasible levels. Expanding the costly mandate for ethanol and biodiesel was a mistake for which Americans who don’t grow or distill corn for a living will pay for many years. Maybe that’s why lawmakers feel compelled to cheer anything that seems to make EISA look otherwise.Celebr...
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