Today  the The US Senate has passed an energy bill that would raise fuel efficiency standards to an average of 35 miles-per-gallon. The bill will improve energy efficiency by promoting the use  of  clean biofuels. The legislation passed by the energy committee also included carbon sequestration, along with provisions to increase the nation’s Corporate Average Fuel Economy (CAFE).

A recent press release by the United States Senate committee on Energy and Natural Resources stated: “The Senate-passed legislation establishes an escalating requirement to reduce America’s gasoline consumption, beginning with a 20 percent savings target in 10 years — equivalent to more than 32 billion gallons per year — and enough to reduce world oil prices by more than $2.50/barrel under current EIA assumptions.  The bill places a particular focus on the development of advanced biofuels by requiring an increasing portion of renewable fuels to be from unconventional biomass feedstock’s beginning in 2016.” (energy and natural resources committee) Some of the other provisions include $2.3 billion for research related to car batteries as well as $60 million for the research and development of strong light-weight materials for the construction of vehicles. $120 million will also go to research on carbon sequestration to develop ways of reducing carbon emissions. The legislation also raises the average fuel economy average to 35mpg by 2020.

ENERGY BILL ACCOMPLISHMENTS

Increases Auto Mileage for First Time in Decades.   ”And it calls for boosting auto fuel economy to a fleet average of 35 miles per gallon by 2020, a 40 percent increase over current requirements for cars, SUVs, vans and pickup trucks.” [AP, 6/22/07]

Increases Production of Ethanol. “The legislation would require ethanol production for motor fuels to grow to at least 36 billion gallons a year by 2022, a sevenfold increase over the amount of ethanol processed last year.” [AP, 6/22/07]

Spurs Research on Fuel-Efficient Vehicles. “It would provide federal grants and loan guarantees to promote research into fuel-efficient vehicles and would support test projects to capture carbon dioxide from coal-burning power plants to be stored underground.” [Washington Post, 6/22/7]

Saves Taxpayer Dollars By Increasing Efficiency in Government Buildings. “New appliance and lighting efficiency standards and a requirement that the federal government accelerate use of more efficient lighting in public buildings.”  [AP, 6/22/07]

Ensures Gas Prices Are Not Manipulated.  “Price gouging provisions that make it unlawful to charge an ‘unconscionably excessive’ price for oil products, including gasoline. It also gives the federal government new authority to investigate oil industry market manipulation.”  [AP, 6/22/07]