More Commentary on the Energy Bill...

It's nice to see that we are not the only cynical voice out there re: the Energy Bill...

peakguy brings Friedman's analysis of the Energy Bill to our attention today:
Sorry to be so cynical, but an energy bill that doesn't enjoin our auto companies to sharply improve their mileage standards is just not serious. This bill is what the energy expert Gal Luft calls "the sum of all lobbies." While it contains some useful provisions, it also contains massive pork slabs dished out to the vested interests who need them least - like oil companies - and has no overarching strategy to deal with the new world.
and then Josh Bearman also has a good take on the Energy Bill as well (hat tip to Ezra Klein):
This was Bush's baby from the start, the fruition of Cheney's infamous task force, to which he invited every industry honcho he could find to write their own tickets right into the country's energy policy. After that, of course, it was larded with extra tax breaks and subsidies, like $500 million in deep-water drilling that will likely wind up in Tom DeLay's hometown, Sugar Land, and billions more that will drain straight into industry coffers.
Ah, it's always nice to see government has our best interests at heart isn't it?
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By the way Glenn McA = Peak guy

I didn't have time to post on my blog today so I'm glad you posted it.

It's like everyone who wants to do the right thing wants to do it for reasons like climate change and dependence on terror producing countries, but they don't see the bigger picture of oil depletion.

I would love to see some experts write a letter to the editor about this. My letters never seem to make it through.

sorry...there's even a link now! :)

I think just about everybody is cynical about the energy bill. The Economist called it "No lobbyist left behind" a year ago. Every business and news publication I have seen has ripped into it. Only the very partisan or self interested seem to be able to say anything good about the bill as a whole.

The energy bill left a lot to be desired, but does anybody really expect someone in government to impose fuel efficiency regulations on the market when Toyota and Honda lead in that regard, and GM and Ford are already on the path to reorganization (possibly the dreaded b word)?

The market will impose fuel efficiency guidelines itself anyway. Give it time.

Yep, lot's of wasted money and misdirected efforts.

The one thing I can standup for is the loan guarantees for licensing risks for new nuclear power plants. These risks are causing delays in building otherwise economical and needed nuclear power plants yet the risk is completely governmental in origin. A government fix for a government problem seems fair and just. The production tax credits for new nukes looks like sweetener and might not be needed.

I also appreciate the moneys for a prototype hydrogen production reactor. Like fusion, its an R&D effort too big for private investors although there are provisions for private cost-sharing.

Ethanol production requirements are not thought through. 7.5 billion gallons of ethanol is 15 billion gallons of 100 proof vodka. That's 60 billion gallons of tomato juice if consumed as Bloody Marys or 3 billion gallons of vermouth for vodka martinis. Both greatly exceed world production - and that ignores the extra olives! What are they expecting us to do, BURN the stuff?

Anyone know what the energy bill says about biodiesel?

Drilling in ANWR is worth $700 billion. Almost 11 billion barrels (mean USGS estimate) x $60/barrel.

The energy bill is drop in the ocean compared to that.

If we were serious about energy, we'd be drilling in ANWR, off Cali, and everywhere else. And the Peak Oil brigade would be leading the bandwagon for it.

If oil is scarce it means it is valuable. If it is valuable we need to allow the exploration and production of it.