New Apollo Energy Act
Date: Friday, June 10, 2005 @ 21:59:48 GMT
Topic: Legal
Apollo Creed
New Apollo Energy Act contrasts sharply with "Jurassic" GOP energy bill
By Jay Inslee
18 May 2005
On April 21, Congress stepped back in geologic time when the House of Representatives passed an energy policy of the dinosaurs, by the dinosaurs, and for the dinosaurs. This energy bill is truly a "Jurassic" piece of legislation that relies on a limited energy source derived from creatures and plants that died millions of years ago. In fact, 93 percent of the $8 billion in tax incentives in the bill go to oil, gas, and other traditional energy industries...
Our New Apollo Energy Act will provide $49 billion in government loan guarantees for the construction of clean-energy generation facilities that will produce power from wind, solar, geothermal, biomass, oceans, coal with carbon-sequestration technology, and other sources. The legislation will also commit $10.5 billion to research-and-development investment tax credits for clean energy-producing operations. In addition, it includes a 10-year extension of the current credit for electricity generated from clean sources. Making these clean energy sources cost-effective for citizens will require this type of bold infrastructure investment by the federal government...
Read the whole article:
http://www.grist.org/comments/soapbox/2005/05/18/inslee-apollo/
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