Renewable, Efficient Energy Touted to US Lawmakers
US: September 15, 2008
WASHINGTON - Energy experts urged US lawmakers on Friday to focus on
efficiency and renewable energy, as well as increased domestic production,
as they consider legislation to address volatile fuel prices.
Speaking at a bipartisan energy summit hosted by the US Senate, experts
encouraged lawmakers to invest in research and technology and make tax
credits for renewable energy consistent.
"An on-again, off-again production tax credit is not a way to promote stable
development of renewable energy," Daniel Yergin, chairman of Cambridge
Energy Research Associates, told lawmakers.
"Uncertainty is the enemy of investment, whether for renewables and
alternatives or for conventional energy."
Lawmakers have been locked in a stalemate over how to handle high fuel
costs, specifically whether to lift the moratorium on offshore drilling.
Although panelists said increasing offshore drilling would not solve all of
America's energy problems, they seemed to agree that more drilling would be
necessary as the nation transitions to alternative fuels.
"Eliminating fossil fuels any time soon, I would argue, is impossible
because we have nothing to replace them with," said Frank Verrastro,
director of the energy and national security program at the Center for
Strategic and International Studies.
Senators Kent Conrad, a Democrat from North Dakota, and Saxby Chambliss, a
Republican from Georgia, requested the energy summit.
Conrad and Chambliss lead a bipartisan group of Senators floating an energy
package that would expand offshore drilling to the coasts of four
southeastern states and in the eastern Gulf of Mexico. In addition, the
package would boost funding for renewable energy and repeal some tax breaks
for oil companies.
The Senate is expected to vote on the bipartisan package next week.
(Reporting by Ayesha Rascoe; editing by Jim Marshall)
Story by Ayesha Rascoe
REUTERS NEWS SERVICE
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