Energy Independence and Security Act Signed into Law

December 23, 2007 - Despite the slack that President George W. Bush has received on his environmental agenda, Bush stepped up to the plate recently and signed the Energy Independence and Security Act into law. Viewed as a historic occasion by many Democrats, the new energy bill will be essential to increasing fuel efficiency and reducing the U.S. dependence on foreign oil.

Provisions in the bill call for new standards in vehicle fuel economy and a greater amount of ethanol production. Critics of the bill, however, point that provisions to raise taxes on oil firms and set renewable goals and target frames were abandoned. Overall, environmentalists are very pleased with the Energy Independence and Security Act.

President Bush is certainly no stranger to oil. He has long spoke out about the U.S. "chronic" dependence on oil, and that ending this dependence would be essential to making the country more secure. And that's exactly what Bush said as he penned the legislation into law: This bill will make America "stronger, cleaner and more secure", said the President. Let's all just hope that "stronger" and "more secure" does not amount to protectionism in a global economy.

As mentioned, a major component of the legislation is to mandate better fuel efficiency in vehicles (something which has not been done in over thirty years). The bill calls for a 40% increase in efficiency, which amounts to achieving a standard rate of 35 miles per gallon by 2020. This would lower oil consumption in the U.S. by four million barrels per day, and would approximately save vehicle owners up to $1,000 per year.

The second part of the legislation calls for pursuing alternative energy sources, namely boosting ethanol production. Rather than using corn, which has been highly criticized as an energy intensive, inefficient source, the legislation calls for more ethanol development from non-food sources like woods chips and agricultural waste. The bill also calls for phasing out the use of energy-intensive light bulbs by 2014 and requiring large appliances like dishwashers, washing machines and freezers to use less energy.

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