Feb. 28 --
Sen. Hillary Clinton, D-N.Y., has renewed her call for creation of a Strategic Energy Fund to jumpstart research and investment in clean energy technologies to promote energy independence and improve the environment.
Clinton on Feb. 27 said she was reintroducing legislation that would create the fund and eliminate tax incentives for large oil companies and impose a temporary fee on major oil company profits that exceed a baseline. The legislation also would require oil companies pay royalties for drilling on public lands.
The Strategic Energy Fund would: create $3.5 billion in tax incentives and grants to build five clean coal plants that would capture and store carbon dioxide emissions; extend production tax credits for generating electricity from wind and other renewable sources for five years; quadruple consumer tax breaks for buying hybrids or other cleaner fueled automobiles; dedicate $500 million toward advanced battery research to speed development of plug-in hybrids; provide loan guarantees to accelerate production of biofuels; increase incentives for improving home and office energy efficiency; and create an Advanced Research Projects Agency for energy.
Clinton unveiled similar legislation in October 2005.
To subscribe or visit go to: http://www.wastenews.com