Hill Heat

Modification Energy Package part of package passed by committee.

Provision	Approx Cost (billions)
PTC (Sec. 45)	3.0
Solar (residential & business, including fuel cells, microturbines)	0.13
CREBs ($400m allocation)	0.2
Commercial buildings	0.15
Efficient homes (new)	0.06
(exp. 12/07) Efficient homes (existing)	1.5
(exp. 12/07) Efficient appliances	0.32
Percentage Depletion (marginal wells and stripper wells)	0.25
TOTAL	5.57

1. Production Tax Credit (Section 45). Extends placed-in-service deadline for qualifying electric generating facilities (wind, biomass, geothermal, etc.) for one year. Estimated cost is $3b/10.

2. Solar, fuel cell, microturbine credits (Sections 48 and 25D). Extends Section 48 (30% investment credit for solar and fuel cell property, 10% credit for microturbines) and Section 25D residential solar credit for one year. Cost is approx. $130m/10.

3. Clean Renewable Energy Bonds (CREBs). Provides $400m in new CREBs issuance, at estimated cost of $206m/10.

4. Appliances Manufacturer Credit. Extends manufacturer credit for high-efficiency appliances for two years through 2009, at cost of approximately $323m/10.

5. Energy-Efficient Existing Homes. Extends 10% investment tax credit for energy-efficient home retrofits (windows, heating and cooling equipment, etc.) through 2009, at estimated cost of $1.5b/10.

6. Energy-efficient Commercial Buildings: Extends deduction for energy-efficient commercial buildings for one year, at estimated cost of $153m/10.

7. Energy-efficient New Homes. Extends credit for energy-efficient new homes for one year, at estimated cost of $61m/10.

8. Percentage depletion for marginal wells. Extends suspension on the taxable income limit for purposes of depreciating a marginal oil or gas well through 2009, at estimated cost of $247m/10.

01/30/2008 at 02:30PM

Witnesses

Panel I

• FWS Director Dale Hall

Panel II

• Andrew Wetzler, Natural Resources Defense Council
• Margaret Williams, World Wildlife Fund
• Brendan Kelly, University of Alaska
• Richard Glenn, Alaskan Arctic resident and sea ice geologist
• J. Scott Armstrong, University of Pennsylvania Wharton School

01/30/2008 at 10:00AM

This Wednesday, Chairman Edward J. Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming will host Dr. Rajenda Pachauri, Chairman of the Nobel Peace Prize winning Intergovernmental Panel on Climate Change, in his first appearance before Congress. Last year, under Dr. Pachauri’s leadership, the IPCC produced the seminal review of the science of global warming, its current and potential future impacts and the positive strategies available to help address this looming threat.

Dr. Pachauri will share his views on the urgency of addressing global warming and the issues Congress and other political leaders must consider when crafting climate legislation this year.

Witness

• Dr. Rajenda Pachauri, Chairman, Intergovernmental Panel on Climate Change

01/30/2008 at 09:00AM

01/29/2008 at 10:00AM

Sen. Menendez presiding.

Witnesses:

Panel 1

• James L. Connaughton, Chairman, Council on Environmental Quality, Executive Office of the President

Panel 2

• Jim Lyons, Vice President for Policy and Communication, Oxfam America
• Elliot Diringer, Director of International Strategies, Pew Center on Global Climate Change
• Glen Prickett, Senior Vice President, Business and U.S. Government Relations, Conservation International
• John J. Castellani, President, Business Roundtable

01/24/2008 at 02:30PM

01/24/2008 at 02:00PM

Sen. Barbara Boxer continues the investigation.

Witnesses
Panel I (Warming Law live-blog)

• Stephen L. Johnson, Administrator, Environmental Protection Agency

Panel II (Warming Law live-blog)

• Martin O’Malley, Governor of Maryland
• Jim Douglas, Governor of Vermont
• Edward G. Rendell, Governor of Pennsylvania
• Mike Cox, Attorney General, State of Michigan
• Doug Haaland, Director of Member Services, Assembly Republican Caucus, State of California

Panel III (Warming Law live-blog)

• David D. Doniger, Policy Director, Climate Center, Natural Resources Defense Counci
• Jeffrey R. Holmstead, Partner, Bracewell & Giuliani

01/24/2008 at 10:00AM

01/24/2008 at 09:30AM

Just a few hours after its release in Europe, a new global warming pollution auction-and-trade system will arrive on American soil tomorrow morning at a hearing before the Select Committee on Energy Independence and Global Warming. A leading figure in the European Commission’s carbon market will appear before the Select Committee to discuss how the European Union has shifted from a pollution trading scheme where credits are given out for free to a system where companies must bid on credits.

“Because this administration has refused to push forward on global warming policy, we must look to the E.U. and other countries for lessons on global warming policy,” said Rep. Edward J. Markey (D-Mass.), Chairman of the Select Committee. “Europe has learned some hard lessons which can help America avoid policy pitfalls and reduce carbon dioxide emissions sooner and more effectively.”

The hearing will examine the role of auction or allocation systems for global warming emissions credits in a cap-and-trade climate bill. Along with several prominent witnesses from the United States, Peter Zapfel, Coordinator for Carbon Markets and Energy Policy, European Commission – Environment Directorate General, will cover these new developments in the E.U.

Witnesses

• Peter Zapfel, Coordinator for Carbon Markets and Energy Policy, European Commission – Environment Directorate General
• Hon. Ian Bowles, Secretary of Energy and Environmental Affairs, Commonwealth of Massachusetts
• Dallas Burtraw, Senior Fellow, Resources for the Future
• John Podesta, President and Chief Executive Officer, Center for American Progress
• Robert Greenstein, Executive Director, Center on Budget Policies and Priorities

01/23/2008 at 09:30AM

EE News:

Advisory panel expected to put gas tax increase plan before House committee

Alex Kaplun, E&E Daily reporter

A House panel is poised to open a debate this week into increasing the federal gas tax as a means for funneling additional dollars toward bridge repairs, highway construction and other transportation projects.

The House Transportation & Infrastructure Committee will hold a hearing Thursday to examine a report from the National Surface Transportation Policy and Revenue Study Commission, which is expected to outline a series of recommendations for improving the country’s transportation infrastructure.

The report will not be formally released until tomorrow morning but reports late last week indicate that the majority of the 12-member panel will endorse raising the gas tax to pay for a wide range of transportation initiatives. The size of the proposed increase to the 18.4 cent per gallon tax remains unclear and could range from as little as a dime or as much as a quarter per gallon.

Three members of the panel – including Transportation Secretary Mary Peters – are expected to oppose the increase. The Bush administration has consistently opposed any boost to the gas tax, arguing that it is an inefficient way to pay for future transportation projects.

Still, several key lawmakers in the last couple years have said that Congress should explore increasing the tax to inject extra dollars into federal transportation funds that are failing to keep up with the nation’s needs. But the idea has yet to gain any significant traction on Capitol Hill.

In the wake of last summer’s Minnesota bridge collapse, T&I Committee Chairman Jim Oberstar (D-Minn.) proposed a temporary five-cent gas tax increase to repair and replace bridges across the United States. The increase would sunset after three years and raise roughly $25 billion over that period.

Oberstar’s plan never made it out of committee before the end of the last session of Congress. It remains to be seen whether he will try to revive a similar plan this year.

But one influential Republican has already come out against any proposal to increase the gas tax, saying that it would place an extra burden on consumers without substantially increasing federal transportation dollars.

“This is a disappointment and probably even a big waste of tax dollars. A special commission came up with an old, cold, bad idea,” said Senate Finance Committee ranking member Chuck Grassley (R-Iowa). “Raising the gas tax puts the brunt of the long-term trust fund expenses on automobile drivers, when diesel trucks and other heavy vehicles also use the highways.”

01/17/2008 at 11:00AM