Wednesday, December 19, 2007

Bush Signs Landmark Energy Bill Into Law

12/19/2007 11:30:45 AM President Bush signed into law on Wednesday legislation that will set higher fuel economy standards for cars and light trucks and phase out the use of incandescent light bulbs.

The legislation is “a major step toward reducing our dependence on oil, confronting global climate change, expanding the production of renewable fuels and giving future generations of our country a nation that is stronger, cleaner and more secure,” Bush at a ceremony at the Department of Energy in Washington.

The bill was roundly passed by the House on Tuesday by a vote of 314 to 100. It marks the first time fuel economy standards have been updated by law since 1975, and will require vehicles to average 35 miles per gallon by 2020. In addition, the annual production of renewable fuels will be upped fivefold to 36 billion gallons by 2022.

According to the Renewable Fuels Association, an organization that lobbies for distillers of alternative fuels like ethanol, by 2022 36-billion-gallon annual production will represent a sixth of overall fuel consumption.

“At that level of consumption, 36 billion gallons of renewable fuels will effectively drive us through the months of January and February,” the group said in a statement. “No oil 'til March.”

The legislation, known as the Energy Independence and Security Act, was hailed by Bush as an important step in curing the United States' “addiction to oil,” an issue he gave large attention to in his 2007 State of the Union.

Incandescent light bulbs will likely be eliminated within the next 10 years, according to measures in the legislation. The law also requires reduced energy use by several appliances, including dishwashers, washing machines, and walk-in coolers and freezers.

The bill has been praised by House Speaker Nancy Pelosi (D-CA) as groundbreaking.

“You are present at a moment of change, of real change,” she said before Tuesday's House vote.

However, critics counter that it will increase automobile costs and potentially compromise safety. Also, the efficiency of ethanol has been questioned recently, and has the potential to raise prices of corn and grain. The bill has also been criticized by some Democrats and environmental groups as too watered down. Bush had threatened to veto a bill that would have required utilities to utilize renewable sources like wind and solar energy for power and would have been funded by higher taxes on oil companies.