July 30, 2008: Senator Reid Wants Renewable Energy Tax Credits In Oil Bill
Senate Majority Leader Harry Reid said yesterday that extending renewable energy tax credits is a prerequisite to any compromise with Republicans on an oil speculation bill. The chart to the left illustrates the drastic reduction in wind capacity installation in years after which tax credits were not renewed.
As noted in The Apollo Daily Digest last week, the International Brotherhood of Teamsters came out against drilling for oil in the Arctic National Wildlife Refuge. In a recent speech, Teamsters’ General President Jimmy Hoffa argued that we must break “our dependence on foreign oil by investing in the development of alternate energy sources like solar, wind and geothermal power.”
Cellulosic Ethanol News: BlueFire Ethanol Fuels Inc. will build a cellulosic ethanol plant in Southern California. The plant is expected to produce about 17 million gallons of waste-based ethanol annually.
Researchers at the University of Georgia developed a biomass pretreatment process that may increase ethanol production yields 10-fold.
Northwind Ethanol claims it can produce cellulosic ethanol at less than $1 per gallon.
According to Earth Policy Institute, “concentrating solar thermal power (CSP) capacity [is] expected to double every 16 months over the next five years.”
The latest $288 billion federal farm bill includes tax credits to encourage cellulosic ethanol production.
Cash For Clunkers: Alan S. Blinder, professor of economics and public affairs at Princeton and former vice chairman of the Federal Reserve, wants the federal government to buy old gas guzzlers and take them off the streets.
The Associated Press analyzed Barack Obama’s new energy ad. Obama met with the House Democratic Caucus on Tuesday to discuss energy policy.
A federal judge dismissed one of two lawsuits California filed against the E.P.A. The lawsuits were brought on by the E.P.A.’s decision to forbid the state from setting its own auto emissions standards.
–Christopher Greenspan
Tags: Barack Obama, BlueFire Ethanol Fuels, Cellulosic Ethanol, EPA, Farm Bill, Harry Reid, International Brotherhood of Teamsters