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Preview: Hill Heat: Obama Unveils Detailed Global Warming/Energy Policy Proposal

Hill Heat: Obama Unveils Detailed Global Warming/Energy Policy Proposal



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Obama Unveils Detailed Global Warming/Energy Policy Proposal

Tue, 09 Oct 2007 14:08:00 -0400

Illinois senator and presidential candidate Barack Obama’s global warming/energy policy has developed significantly in the past year, from endorsement of coal-to-liquids funding to his policy platform unveiled yesterday. Summary of Obama’s energy policy: 100% auction cap-and-trade with 1990 levels by 2020, 80% cuts by 2050 $150 billion investment over ten years in clean energy and green jobs 2030 goals: reduce U.S. economy energy intensity by 50%, reduce oil consumption by 35%, Standards: 25% federal RPS by 2020, all new buildings carbon neutral by 2030, phase out traditional incandescents by 2014 Smart grid with distributed generation Increase CAFE standards to 35 MPG, Renewable Fuel Standard to 36 billion gallons by 2022 Require 60 billion gallons of biofuels by 2030 Re-engage in UNFCCC CAP-AND-TRADE Economy-wide cap-and-trade program with 100% auction of credits Target of 80% reduction (from 1990 levels) by 2050 Target of 1990 levels by 2020 Revenue generated from the auction will go to programs like LIHEAP and weatherization assistance (compare to Dingell’s similar spending proposals) GREEN ECONOMY PROJECT (Compare to the Apollo Alliance) Invest $150 billion over the next ten years Double energy R&D to $6 billion Increase funding for federal workforce training programs Energy-focused youth jobs program with private sector employers and unions to provide apprenticeship opportunities to improve the energy efficiency of homes and buildings Biofuel investment Invest in biofuel R&D: two billion gallons of cellulosic ethanol into the system by 2013 Incentives for local communities to invest in their biofuels refineries An additional subsidy per gallon of ethanol produced from new facilities that have a minimum of 25 percent local capital Additional loan guarantees for advanced ethanol facilities with local investment Develop and deploy “clean coal” technology Significantly increase the resources devoted to the commercialization and deployment of low carbon coal technologies Existing coal facilities are retrofitted with carbon capture and sequestration technology as soon as it is commercially available If necessary, standards that ban new traditional coal facilities Nuclear energy Guidelines for tracking, controlling and accounting for spent fuel at nuclear power plants Look for a safe, long-term disposal solution (Yucca Mountain is not an option) Technology deployment investment Clean Technologies Deployment Venture Capital Fund modeled on the CIA In-Q-Tel program Extend the federal Production Tax Credit (PTC) for five years Establish a federal investment program to help manufacturing centers modernize Carbon-Reduction Standards National Low Carbon Fuel Standard (S.1324) to reduce the carbon their fuel emits by ten percent by 2020 25 percent federal Renewable Portfolio Standard, 30 percent of the federal government’s electricity comes from renewable sources by 2020 ENERGY EFFICIENCY Set a goal of reducing the energy intensity of our economy 50% by 2030 Existing federal buildings 25% more efficient by 2012, all new federal buildings are 40% more efficient by 2012, zero-emissions by 2025 Regular updates for appliance efficiency standards All new buildings carbon neutral by 2030 (new buildings 50%, existing 25% more efficient by 2017) Competitive grant program for local early adopters of stronger building codes Energy utility decoupling of profits from increased energy usage Expand federal efficiency grants Phase out traditional incandescent light bulbs by 2014 (S. 2017) Create a digitally connected power grid which permits consumer-level power generation ENERGY INDEPENDENCE Set goal to reduce oil consumption by at least 35% (10 million barrels per day) by 2030 Fuel economy Increase fuel economy standards (S. 3694 of the 109th Congress, in SA 1502) Provide retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers Invest in advanced vehicle technology Lifting the 60,000-per-manufacturer cap on efficient-vehicle tax cr[...]