Energy Bill "Solid, Beginning Progress," Whitehouse Says
Press Release
Energy Bill "Solid, Beginning Progress," Whitehouse Says
U.S. Senator Sheldon Whitehouse (D-R.I.) offered measured praise for a new energy law that will raise fuel economy standards for the first time in over 20 years.
"Today, America has made solid, beginning progress toward greater energy independence," said Whitehouse, a member of the Senate Environment and Public Works (EPW) committee. "The energy bill signed into law this morning means Americans will consume less foreign oil, save money, travel further on a gallon of gasoline, and, most importantly, cut carbon dioxide emissions that contribute to global warming.
"But on many other critical initiatives, President Bush and Congressional Republicans still stand in the way. We'll keep fighting for strong federal standards encouraging the development and use of clean, renewable energy."
The energy bill raises the Corporate Average Fuel Economy (CAFE) standard for cars, trucks, and SUVs to 35 miles per gallon (MPG), the first increase in more than 20 years. By 2020, the higher standard will save consumers $22 billion annually, cut U.S. oil consumption by 1.1 million gallons a day, and reduce carbon dioxide emissions by more than 192 million metric tons per year. The bill also improves energy efficiency in homes, offices, and appliances.
The President and Republicans in Congress blocked many key changes sought by Democrats, however, including the elimination of tax breaks for big oil companies, incentives promoting the development of residential and commercial wind and solar power, and new federal standards requiring power companies to get at least 15 percent of their electricity from renewable sources. The higher renewable portfolio standard, or RPS, could cut CO2 emissions by as much as 126 million metric tons by 2020.
Since President Bush took office, the price of a barrel of oil has risen from $32 to over $90. Greenhouse gas emissions have increased by more than 200 million metric tons.
Source