Obama-Biden New Energy For America Plan November 11, 2008Posted by Tom in Energy costs, energy savings, Government policies.
Tags: Barack Obama, hybrid, Joe Biden, New Energy For America Plan, president, renewable energy, sustainable
With the recent election, there are a million questions and speculations about what the new administration will bring to the table on the energy front. Many prominent environmentalists are already behind the Obama-Biden New Energy For America plan, but what does it actually promise? If you would like to read the plan, you can download it here. I’ve put together a quick summary of the key points in the plan, in case you would rather not sift through all eight pages. So here’s the good stuff:
Short-term solutions: Immediate relief from pain at the pump
- Help families with gas and utility costs by providing emergency energy rebate worth $500 for individuals and $1,000 for married couples.
- Enact legislation to close loopholes in Commodity Futures Trading Commission regulations and release light oil from the Strategic Petroleum Reserve and replace it later with heavier crude in order to cut prices.
Mid- to long-term solutions: New energy for America
Tackle climate change
- Implement cap and trade program to reduce carbon emissions to 80 percent below 1990 levels by 2050
- Re-engage the U.S. with the U.N. Framework Convention on Climate Change and bring all major emitting nations together to develop effective emissions reduction efforts.
Invest in our secure energy future and create 5 million new jobs
- Invest $150 billion over 10 years in commercialization of hybrids, promotion of renewable energy, energy efficiency, low emissions coal plants, biofuels and fuel infrastructure.
- Create “Green Vet Initiative” in which veterans receive counseling and job placement to help them gain skills and enter the renewable energy industry.
- Allocate money to states to support local manufacturers with plans for producing clean technologies. The plan predicts that these efforts will create 5 million new jobs in the U.S.
Make our cars, trucks and SUV’s fuel efficient
- Increase fuel economy standards by 4 percent each year, invest in developing advanced vehicles and provide $7,000 tax credit for the purchase of advanced technology vehicles.
- Convert the entire White House fleet to plug-ins (as security permits) and half of all federally purchased cars will be plug-in hybrids or all-electric by 2012.
- Partner with domestic automakers and mandate that all new vehicles are flexible fuel vehicles by 2012. Require that 60 billion gallons of advanced biofuels be developed by 2030 as well as establish a national Low Carbon Fuel Standard.
Promote the supply of domestic energy
- Require oil companies to develop leases that have not been drilled, or turn them over so that another company can develop them. Promote the responsible domestic production of oil and natural gas and prioritize the construction of the Alaska Natural Gas Pipeline.
Diversify our energy sources
- Require 10 percent of electricity to come from renewable sources by 2012, and instruct the Department of Energy to develop 5 “first-of-a-kind” commercial scale coal-fired plants with carbon capture and sequestration. The Obama administration will also lead federal efforts to look for safe and secure nuclear energy.
Commitment to efficiency to reduce energy use and lower costs
- Reduce electricity demand by 15 percent from DOE’s projected levels by 2020.
- Make all new buildings carbon neutral by 2030.
- Provide more resources to DOE to implement updates for efficiency standards, reduce federal energy consumption, and require states to implement incentive changes and additionally offer them technical assistance.
- Invest in a Smart Grid and establish a Grid Modernization Commission.
- Invest in communities to make it easier for us to walk, bicycle and access other transportation alternatives.
- Weatherize at least one million low-income homes each year for the next decade to reduce energy usage.
So now that you’ve read through the basics, do you think that the new administration (along with America’s help) will be able to accomplish these goals?