Unfortunately, delay due to lawmakers’ inability to come to a consensus and the Obama administration’s reluctancy to increase gas prices at this time (which are much lower, in real terms, than they were 54 years ago) may postpone the bill for another 18 months. However, there is opportunity to take action!

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With some of the world’s most spectacular landscapes, Utah is a haven for the seeker of peace and a respite from the industrialization of the modern world. But those lands have long been in the cross hairs of development’s long sight. With the possibility of an oil well beneath the Fisher Towers, a mine in Moab’s Goldbar Canyon or an off-road vehicle trail paralleling the Colorado River in Westwater Canyon, lovers of the land have fought for decades to preserve the solitude of the desert.

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The American Clean Energy and Security Act of 2009 (ACES), intended to “create jobs, help end our dangerous dependence on foreign oil, and combat global warming” according to the official announcement of the House of Representatives Committee on Energy and Commerce, centers around four titles:

• A clean energy title that promotes renewable sources of energy, carbon capture and sequestration technologies, low-carbon fuels, clean electric vehicles, and the smart grid and electricity transmission;
• An energy efficiency title that increases energy efficiency across all sectors of the economy, including buildings, appliances, transportation, and industry;
• A global warming title that places limits on emissions of heat-trapping pollutants; and
• A transitioning title that protects U.S. consumers and industry and promotes green jobs during the transition to a clean energy economy.

The bill seeks emissions reductions greater than those proposed by the president: calling for a 20 percent cut in emissions from 2005 by 2020 instead of the 14 percent included in Obama’s Feburary budget. It also calls for utilities to produce one-quarter of US electricity from renewables sources by 2025, and includes a federal low carbon fuel standard modeled on California legislation.

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Over $100 billion of that money (roughly 1 out of every 8 dollars!) would go directly to a variety of green projects,

some of which include the weatherization of low and moderate income homes, a clean water infrastructure, clean energy programs, a smart grid, efficiency programs, retrofits on public buildings, and environmental clean-up and restoration.

It’s anticipated that the Senate will not be as generous…

…well, we’ll enjoy the love for now anyway.

>>More on renewable energy tax credits in Congress

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According to today’s New York Times, “supporters of the bailout proposal had argued that it was necessary to avoid a collapse of the economic system, a calamity that would drag down not just Wall Street investment houses but possibly the savings and portfolios of millions of Americans. Opponents said the bill was cobbled together in too much haste and might amount to throwing good money from taxpayers after bad investments from Wall Street gamblers.”

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When (and if) finally approved, much of the loan will be used to convert production to smaller, more fuel efficient vehicles, which are increasingly popular in Europe as a result of the escalating energy crisis. The money will also be added to existing U.S. Advanced Battery Consortium grants to help fund the development and manufacture of next-generation battery technology, such as those used in the forthcoming Chevrolet Volt.

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I’m pretty sure whoever shot this was breaking the law, or, at the very least, House Rules — but I’m quite glad they did. I’m always entertained by politics as theater.

More posts on oil, offshore drilling, and gas prices:

• Obama Campaign Seeks to Make Gas Prices Irrelevant
• Poll: Americans Don’t Think More Drilling Will Lower Gas Prices
• Is McCain Serious About Cap-and-Trade? Economic Adviser Forbes Doesn’t Think So
• New McCain Ad Blames Obama for High Gas Prices
• McCain Credits Bush for Drop in Crude Oil Prices, White House Basically Replies: ‘Wasn’t us’

[UPDATE: The Senate version of the Conservation Act passed overwhelmingly today, by a vote of 91-4]. The House of Representatives has voted to pass H.R. 2016, the National Landscape Conservation Act, by a tally of 278-140. The bill will give legal recognition to the National Landscape Conservation System, a Clinton-era program that oversees some 27 million acres of federal land mainly in 11 Western states and Alaska. Joining the 238 Democrats in support of the legislation were 50 Republican members of the House [follow this link to see how your Representative voted].

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The Democrats 'First 100 Hours' in power has delivered long-awaited reforms and a shot across the bow of big companies largely unchecked by the current administration. The passage of the Clean Energy Act by a vote of 264-163 is a shift in energy policy long debated and long neglected.

The act will close tax loopholes for big oil and collect royalties on oil and gas produced in public waters. Such back-pay could total more than $14 billion dollars; money that will be earmarked to go towards clean energy, such as investments in energy-efficient technologies and renewable power.

Speaker of the House, Nancy Pelosi, had this to say on the bill:

"Today's vote represents the first step toward a future of energy independence. By rolling back $14 billion in subsidies for Big Oil at time when they have recorded record profits, and investing that money in clean renewable energy, energy efficiency and alternative fuels, we will reduce our dependence on foreign oil."

On the other side, some Republicans were quick to point out that such a bill would actually increase dependence on foreign oil and decrease domestic exploration and investment. These comments show a clear lack of understanding when it comes to making America a more efficient country and less involved in foreign affairs based on natural resource allocation. The oil companies have plenty of money to tide them over during this 'difficult period' and will no doubt continue to make profits as the price of gasoline rises this summer.

In an independent study, investments in alternative energy will potentially create 3.3 million new jobs to the nation's economy, while stimulating $1.4 trillion dollars in new GDP. If anything, people are simply shocked to see attention paid to domestic policy, something that's been in short supply while at war overseas.

Such developments are encouraging and I look forward to witnessing other leadership decisions that do more than pad the pockets of friends and special interests. Taking risks on energy policy, with bills such as the Clean Energy Act, are not foolish gambles but innovative steps forward. It feels good to move into 'Drive' and leave 'Nuetral' behind.

Source: House Passes Clean Energy Act of 2007