The White House and Congressional leaders announced that a bailout of the carmakers was imminent. The House signed on, but the Senate opposed the deal. The Big Three and the U.A.W stood united. The final breakdown in negotiation with the Senate occurred when Senator Corker of Tennessee and the U.A.W. came to an impasse. But the bailout will happen. Apparently, Bush will do it with some of the money from the financial bailout.
According to the latest proposal, a “Car Czar” would be appointed to oversee the rescue. It’s unclear how this “Czar” could be more effective than a U.S. trustee appointed by a Chapter 11 Bankruptcy judge. A trustee might be more likely to be free of special interest and partisan bickering. There are strong special interests in the Congress over the automotive industry.
I hope that you had the opportunity to read Jennifer Kaplan’s recent post “Van Jones’ Ecopreneurial Vision.” Talk about a man who is working to inspire a nation!
Van Jones has recently surfaced in America’s Shift to Green Living as a strong advocate for the Green Collar Economy. He is the founding president of Green For All, a U.S. organization that promotes green-collar jobs and opportunities for the disadvantaged. He is also the author of The Green Collar Economy, which has [...]
Given the hue and cry that has been unleashed in America with regard to the bailout, there is finally good news for the renewable energy industry. The Emergency Economic Stabilization Act of 2008, passed by the House of Representatives and signed into law by President George Bush immediately afterwards, extends investment and production tax credits for the wind and solar industries. The extensions will be partly paid for by a change in the tax code for the oil and gas [...]
Following a meeting earlier this week with House of Representatives speaker Nancy Pelosi, the ‘big three’ US automakers are optimistic about their prospects of receiving a multi-billion dollar loan.
After a hefty long debate over offshore drilling and new energy policies, the House passed the ever unpopular Comprehensive American Energy Security & Consumer Protection Act. The bill which will open up new areas of the country to oil drilling, but it also comes with increased support for renewables. The bill - weighing in at 290 pages (PDF) - was not formally introduced until 9:45pm on Monday night, but Pelosi had released an outline of it early last week.
“The energy bill puts us onto that path of independence by having a comprehensive legislation which is the result of a bipartisan compromise in favor of sweeping innovation solutions for America’s energy future,” said Pelosi in a press conference today. “It is imperative that we are energy independent, so we can enhance the prospect for a great future of renewables and creating good paying jobs.”
The bill passed in the House by a vote of 236-189, with ten Republican’s supporting the bill and thirteen Democrats opposing it. It includes measures to “extend the tax credits for renewables, curb energy speculation, establish a national renewable electricity standard, release 10 percent of the Strategic Petroleum Reserve, repeal subsidies to oil companies, and force oil companies to explore on the land already under lease (”use it or lose it”).” It also comes with provisions on efficiency and public transit. And there are even incentives for “clean coal.”
The act allows drilling 100 miles off the Atlantic coast and Florida’s Gulf coast, but that buffer zone could be reduced if a state’s government allows. It will also let state’s decide on whether or not to permit oil-shale development on federal lands within their borders. Here are some videos from the floor debate:
In a recent Grist interview with Speaker of the House Nancy Pelosi filmed after Al Gore’s speech to move to 100% renewable energy in the next ten years, Pelosi states the environmental impact of supporting Obama over McCain.
The White House and Congressional leaders announced that a bailout of the carmakers was imminent. The House signed on, but the Senate opposed the deal. The Big Three and the U.A.W stood united. The final breakdown in negotiation with the Senate occurred when Senator Corker of Tennessee and the U.A.W. came to an impasse. But the bailout will happen. Apparently, Bush will do it with some of the money from the financial bailout.
