
The big news affecting the green business sector from Washington this week (since that Production Tax Credit bill for wind and solar never went to a vote: hey, GE is lobbying hard for it; this ain’t no hippy bill) is the Republican push for more domestic fuel production. At a time when renewable fuel sources finally seem financially and politically viable, due to factors like skyrocketing gas prices, Republicans are pushing 20th century solutions.
Outgoing U.S. President Bush, with support from contender John McCain, yesterday pushed for a lift on the Federal offshore oil drilling ban. For the record, McCain has announced his plan to also subsidize the nuclear and coal industry.
“Families across the country are looking to Washington for a response,” Bush said, trying to frame the issue in the classic “Democratic elites don’t listen to working people argument.”
But is this really about rising gas prices or are Republicans just looking for an excuse to continue subsidizing dirty fuels?
Republicans already put a bill on the table in May called the American Energy Production Act of 2008, which would allow oil drilling in the Arctic National Wildlife Refuge and the outer continental shelf. It would also mandate mythical “clean coal” technologies by 2022 and boost oil shale production on Federal lands in states like Colorado and Wyoming.
For the time being, Democrats have held their ground. Hopefully they are starting to realize that arguments centering around the right to cheap gas are ultimately counter-productive for both the environment and the clean-tech economy. And they need to make the point crystal clear that 11 mpg trucks are a thing of the past, for economic and geopolitical reasons beyond where we drill in the next 15 years.
“Despite what President Bush, John McCain and their friends in the oil industry claim, we cannot drill our way out of this problem,” Harry Reid said in a snappy response. “The math is simple: America has just three percent of the world’s oil reserves, but Americans use a quarter of its oil.”
By Stefan Deeran at The Element Agency in New York