The Energy Policy Act of 2008

by Richard T. Stuebi

Betcha didn’t know that there was an Energy Policy Act of 2008, did you? Well, you won’t find any bill of that name. But, the passage of last week’s appropriately titled “Emergency Economic Stabilization Act of 2008” is almost tantamount to an energy bill.

The Senate prepared a nice summary of the energy-related provisions that were stuffed into the bill during the chaotic process to get something passed promptly that would reassure the financial markets. I have yet to review all of the provisions, but it’s clear that many of them have favorable implications for a variety of clean energy technologies, inluding wind, solar, energy efficiency, hybrid vehicles, biofuels, and smart grid.

It’s nice that there has been at least one small silver lining to the dark cloud of financial implosions in the past few weeks.

Richard T. Stuebi is the BP Fellow for Energy and Environmental Advancement at The Cleveland Foundation, and is also the Founder and President of NextWave Energy, Inc.

3 replies
  1. Tony
    Tony says:

    It is a real mixed bag to have energy incentives in the Economic Stabilization Act. The energy incentives are in essence "pork" added to the bill. We would have been better off with a pork-free emergency bill focused on the financial markets and a separate "Economical Energy Stimulus Act" focused on creating jobs and growing business in the clean energy sector.Pork belongs on the dinner plate and breakfast plate, not in our legislation as a pay-off to lobbyists. (Even though this scenario shows that clean energy lobbying is working.)

  2. davidm.
    davidm. says:

    @Tony – I'm kinda with you. It would have been better if the ERA had passed on its own merit, and the bailout remained pork-free.But all of the energy costs are offset by revenue sources. So the provisions are kind of neutral.

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