Is the idea of 'achieving energy security' an attainable reality or will it remain a mere proposal?
For those who deeply believe in the importance of energy security and want to see the United States take on a leadership role in the field of renewable energy, the American Power Act, the bill introduced yesterday, might represent a critical step towards making energy security a big priority and as leaders in this emerging field. The American Power Act addresses major topics which include: the expansion of the nuclear power industry, carbon capture and sequestration, and revenue sharing for states that want to conduct more offshore oil and gas production. The bill articulates the goals of reducing carbon emission by 17% by 2020 and by 80% by 2050. Furthermore, the bill offers multiple tax credits as incentives to encourage truck and heavy-duty fleets to use natural gas in addition to encouraging manufacturers of vehicles to create cleaner vehicles and adopt more energy efficient production methods.
What effect will the oil spill in the Gulf of Mexico have on the American Power Act?
Due to what has happened in the Gulf, the American Power Act permits coastal governments to veto exploratory oil drilling up to 75 miles from their shores.
Will it encourage the Senate to pass the energy bill that was unveiled today by Senators Kerry and Lieberman?
President Obama responded to this question by essentially saying that the recent event in the Gulf highlights why this bill must be passed by the Senate and added to our portfolio of energy legislation which includes the American Clean Energy and Security Act passed by the House.