Alternative Energy Bill
Senators Barack Obama (D-IL) and Richard Lugar (R-IN) introduced the American Fuels Act of 2006 to the U.S. Senate last week, a bill designed to promote bio and alternative fuels in the hopes of reducing the nation’s dependence on foreign oil.
The bill includes some interesting ideas, including an Alternative Diesel standard that requires 5-percent of the nation’s annual diesel pool be comprised of alternative diesels, a tax credit for automakers of $100 per flex-fuel vehicle produced, allowing the public access to alternative fueling stations on federal property and, this one’s a biggie, the establishment of the Office of Energy Security, complete with its own cabinet member, the Director of Energy Security.
(read it over on the raging bull)
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Meanwhile sugar is going crazy, Brazil, which creates ethanol from sugar and completely energy independant, has been getting an huge increase in demand. The scarcity of sugar is driving up prices of sugar on the commodities market and I don't think it'll slow down soon.
Imagine a day when corn and sugar shortages are our problem instead of oil :)
posted by Investing Monkey @ 9:45 AM
2 Mon' Backs
2 Comments:
Hmmmmmmm, what does this mean, ethenol is obvious......
I think Oil's going to be around for a long time. I hope within 14 years there will be a ethanol pump next to that unleaded sign. But if ethanol becomes mainstream it'll reduce demand oil and keep prices from rising. meaning the switchover may remind me of all those people driving hybrids in that south park episode. If it isn't smog we're suffering from its smug.
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