Via CNN:
The House of Representatives passed the first major increase in fuel economy standards in more than 30 years with a 235-181 vote. The energy bill requires automakers to raise their average fuel economy standard by 40 percent to 35 miles per gallon by 2020. The current standard — 27.5 mpg for cars and 22.2 for trucks –was passed in 1975.
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The bill also includes a mandate that electric utility companies generate 15 percent of their energy from renewable sources of energy such as wind, biomass or solar power by 2020. Rep. Joe Barton, R-Texas, argued the “renewable energy standard” leaves out some technologies like clean coal and hydrogen, and is “almost impossible to meet” by most states.
While not reported in this story, the bill also extends production tax credits until 2012, which will stimulate renewable power project development as it reduces the risk to finance these projects. The Senate will likely approve the bill and it will then face a veto by lame-duck President Bush.
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