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President to detail energy proposal
President Bush Wednesday will propose new steps to increase domestic energy production, including incentives that could result in construction of nuclear-power plants and building oil refineries on abandoned military bases. Details of Bush's proposals were outlined in a conference call with reporters Tuesday night by three administration officials with direct knowledge of a speech Bush will deliver today to a Small Business Administration conference. The White House refused to allow the officials to be identified because it's common practice for such sessions to be conducted anonymously. The officials said that in his speech Bush will: ⢠Ask Congress to allow the Energy Department to provide federal risk insurance to companies that build nuclear-power plants. The insurance would compensate companies for delays resulting from problems meeting federal licensing regulations. It has been nearly a decade since a new nuclear plant opened in the USA. Smart move. Businesses are loath to spend big $ on high risk long term projects that can send even the largest companies bankrupt. It has long been my contention that only governments can take on these kinds of risks, especially in cases where they are in part the cause of the risks. ⢠Instruct federal agencies to work with state and local governments to encourage construction of new oil refineries on former military sites. No refineries have been built in the USA in nearly 30 years. Less significant than it might appear. gasoline can be bought and sold on the world market whereas electricity can't. ⢠Ask Congress to clarify existing laws to ensure that the federal government has the final say in the locations of new liquefied natural gas terminals. Local governments and residents often object to having such facilities in their communities. ⢠Expand eligibility for a $2.5 billion, 10-year tax credit now available to producers of hybrid and hydrogen fuel-cell cars to vehicles that run on energy-efficient clean diesel fuel. A few carrots to the greens. ⢠Encourage more international cooperation in the development of more efficient energy technology and greater use of so-called clean coal and nuclear power. The USA has been pioneering these real make-a-difference initiatives unlike the pointless and counter-productive Kyoto measures. Oil prices have been rising because increased demand in countries such as China and India has made it difficult to keep production up. The editor should be shot for that sentence. Bush has said that passage of energy legislation he proposed four years ago was the best solution. The proposals he plans to announce today are not included in that bill, but Bush hopes they will be incorporated into it. The new proposals would not have an immediate impact on prices, the officials said, but would help ensure affordable energy in the future. The proposals come at a time when Bush's poll ratings have dropped as gas prices have soared. An ABC News/Washington Post poll taken Thursday-Sunday found that 47% of Americans approve of the overall job Bush is doing, tying his record low rating in that poll. Slightly more than a third approve of Bush's energy policies. OK, we know you are not a real journalist unless you include plenty of spin. Posted by: phil_b 2005-04-27 |
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