July 27, 2010 | The New Republic
On a press call this afternoon, Senate staffers walked through the details of the minimalist energy bill that's hitting the floor this week. As expected, the bill will tighten up oversight on offshore drilling and lift the ceiling on the amount of damages oil companies are liable for in the event of a spill. (Naturally, the unlimited liability would apply retroactively to BP.) Plus, there's some money for the Home Star program, which will give owners rebates for making their homes more efficient, as well as various incentives for natural gas and electric vehicles. You can find a draft summary here.
All told, it's a tiny bill—the total cost comes to around $15 billion. And it won't do all that much for the environment: When one reporter asked committee staffers bill whether anyone knew how much greenhouse-gas reduction this bill would lead to, several people laughed out loud. The idea that this will make a significant dent in the climate problem is preposterous. The Home Star section is useful and will save the country billions in home-energy costs, true, but that's still just the tip of mountain in terms of what you can do with efficiency.
Read Full Article
|
