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ENERGY BILL PASSES HOUSE
Yesterday, the House passed legislation (vote count: 235-181) that included a package of energy policy changes and tax incentives aimed at increasing the use of renewable fuels and improving energy conservation efforts. The "Energy Independence and Security Act," which SIGMA opposes, builds on two earlier energy bills (H.R. 3221, H.R. 2776) that passed the House and includes several tax provisions from another energy bill (H.R. 6), which has passed both the House and Senate. A principle component of the legislation is an increase in the mandate for renewable fuels from the current target of using 7.5 billion gallons by 2012 to using at least 36 billion gallons by 2022. Also in the compromise agreement is an increase in CAFE standards to 35 miles per gallon by 2020 for cars and light trucks. The 40 percent increase represents the first revision by Congress of the 1975 law that mandated better vehicle fuel mileage.
There are several items of note that SIGMA members should be aware of: 1) There were not enough votes to override a veto; 2) Price gouging provisions were dropped. Only remnant is a provision empowering the FTC to investigate and prosecute "market manipulation." This provision does not apply to retailers making retail sales; 3) There is not retail mandate for E-85 installation; 4) Tax provisions were changed to delete the sections which would have increased tax credit for installation of E-85 infra-structure from $30 K to $50K; 5) Amendments to PMPA which would expand upon the Gasohol Competition Act of 1980 are still in--franchisors may not stop a franchisee from installing or converting a tank on the franchisee's own property to E-85, provided they still sell at least two grades of gasoline, or stop them from advertising E-85 on a sign or light pole.
The Bush administration has threatened to veto the bill if presented in its current form, according to a Statement of Administration Policy issued Dec. 6. Among several other things, the Administration strongly opposes using the Federal tax code to single out specific industries for punitive treatment. According to the statement, repealing the manufacturing deduction for certain oil and gas companies is a targeted tax increase that puts U.S. firms at a disadvantage relative to their foreign competitors.
On Dec. 7, the Senate rejected a motion to limit debate on the energy bill compromise package amid strong objections from Republicans over the inclusion of $21 billion in tax incentives and a provision to require the use of renewable fuels for the production of electricity. The motion failed by a vote of 53-42. Sixty votes were required to limit debate on the bill so the Senate could attempt to move forward on a vote to pass the bill before adjourning for the year.
CAP AND TRADE BILL PASSES SENATE COMMITTEE
On Dec. 5, the Senate Environment and Public Works Committee approved legislation (S. 2191) to cap the nation's greenhouse gas emissions at 70 percent of 2005 emissions by 2050. The bill was drafted by Sens. Joseph Lieberman (I/D-CT) and John Warner (R-VA) to require greenhouse gas reductions in the transportation, manufacturing, and electric power industries. The committee approved the bill in an 11-8 vote. The bill passed with the support of all the Democrats and Independents, as well as one Republican. All the other Republicans opposed the bill. Despite major Republican opposition, Sen. Warner predicted that enough Republicans would support the bill to provide the 60 votes needed to break a filibuster. Before passing the measure, the committee considered several amendments, with votes on most of the amendments falling along party lines.
The committee rejected Republican amendments to cancel the emissions caps if the bill proves to have serious harmful economic impact, or if foreign nations fail to reduce their greenhouse gas emissions. The committee also rejected several Democratic and Independent-sponsored amendments, including an amendment to make the greenhouse gas reductions required under the bill more stringent. The bill aims to reduce greenhouse gas emissions through the use of tradeable emissions allowances. The bill as amended would auction 22.5 percent of the allowances in 2012, rising to 70.5 percent in 2031. The committee did adopt an amendment to create a low-carbon fuels standard, creating an incentive for biofuels. Future Senate action remains to be seen..
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HEARINGS ON ENERGY MARKET SPECULATION
The Subcommittee on Energy of the Committee on Energy and Natural Resources and the Permanent Subcommittee on Investigations of the Committee on Homeland Security has announced a hearing to examine the role of speculation in recent record crude oil prices that will be held on Wednesday, Dec. 12. There will be a similar hearing in the Senate on Tuesday, Dec. 11.
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SKI AND LEARN AT #1 RESORT IN U.S.!
Love to ski? Want cutting edge education? Then you need to be in Snowbird, Utah on February 10-13 for the SIGMA/NPN/OPIS 2008 Executive Leadership Conference! The conference will be held at the Cliff Lodge Hotel. What’s more, Snowbird has been named the No. 1 ski resort in the United States by SKIING Magazine for five years in a row. Snowbird currently has 64 inches of snow on the ground with MUCH more to come by February! Please visit www.sigma.org for registration forms, hotel information, and full education session descriptions.
*For e-mail alerts from Snowbird, including snowfall totals, special promotions, spa coupons, click on this link: http://www.snowbird.com/about/enews.php and sign up!
SPOUSE INFORMATION:
Though an industry conference, this is also a great opportunity to bring the family and enjoy all the Snowbird has to offer! We have lined up several events for spouses, including the following:
Snowmobile Tour (Separate Sign-up and Fee)
Tuesday, February 12 (12:30 p.m. – 4:15 p.m.)
Suit up at The Snowbird Center and then ride the tram! This is a 2-hour adventure, which begins near the grand 11,000 foot summit of Hidden Peak. Its fast, it’s exciting, it will take your breath away! With over 50,000 acres of incredible riding area and phenomenal views from the highest elevation snowmobile starting point in Utah, the snowmobiling and scenery is second to none! Your tour includes a snack, transportation, gratuity and loaner clothing if needed.
Backcountry Snowshoe Tour (Separate Sign-up and Fee)
Tuesday, February 12 (12:30 p.m. – 4:15 p.m.)
Snowshoeing is available on a myriad of trails throughout Snowbird. The Activity Center offers snowshoe rentals daily from 8 a.m. to 5 p.m. Gently sloped trails bring one in touch with peaceful places within the resort! Take a break from skiing and try out some snowshoes!
Dinner with Entertainment (Separate Sign-up and Fee)
Tuesday, February 12 (5:30 p.m. – 9:00 p.m.)
NEW THIS YEAR! The Cliff Lodge offers many unique venues for entertaining and we’re planning on taking advantage of them. We’ll keep the group together on this final night by offering up dinner and entertainment. It’ll be a great networking opportunity and one that you won’t want to miss! The fee will cover the cost of the food and beverages for the evening and with the help of a sponsor we’ll bring in some top-notch entertainment. Tickets will be very limited once you arrive in Snowbird so be sure to sign up now!
Additionally, there are plenty of “on your own activities” that your spouse will enjoy like mountain tours, ice skating, shopping and fine restaurants. Plus, the Cliff Lodge has a Spa and Salon. Here you can enjoy a relaxing massage, herbal wrap or hydro massage. Work out in the weight room, participate in yoga classes or workshops, or just relax in the rooftop pool and hot tub. See www.sigma.org for more information on spouse events and education.
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STUDY: ETHANOL BLENDS MAY GET BETTER MILEAGE
White House officials praised a new industry- and government-funded study released Dec. 5 showing that "midrange" fuel blends of between 10 percent and 85 percent ethanol can provide better fuel efficiency than regular unleaded gasoline, even in vehicles not specifically designed to use ethanol. The study challenged the widely held assumption that because ethanol has a lower energy density than gasoline, blends of ethanol and gasoline decrease fuel efficiency in direct proportion to the amount of ethanol used. In fact, the study shows the opposite.
Test vehicles using various ethanol-gasoline blends showed smaller than expected decreases in fuel efficiency compared to straight gasoline--between 1.5 percent and 5 percent. In addition, according to the study, three of the four test vehicles actually achieved higher fuel efficiency with E20 and E30 than with gasoline. The research also found that midrange ethanol blends can "significantly reduce" carbon dioxide and other tailpipe emissions and that even standard vehicles not designated as "flex-fuel" can operate well on ethanol blends above 10 percent. The study was co-sponsored by the Department of Energy and the American Coalition for Ethanol (ACE), which represents the ethanol industry.
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SAN FRANCISCO HOTEL WILL SELL OUT
Although SIGMA’s 50th Anniversary Annual Meeting is almost a year away, register and book your room now! The Fairmont Hotel in San Francisco is sure to sell out. With a record- setting attendance expected at this meeting, don’t wait to make your plans! Don’t miss out on the big one— SIGMA’s 50th Anniversary Meeting will take place November 13-16, 2008.
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CARB ESTABLISHES GHG LIMITS
On Dec. 6, California air quality officials passed A.B. 32 -- the Global Warming Solutions Act of 2006, which establishes a greenhouse gas emissions limit for 2020 and adopts a regulation requiring large facilities to begin reporting the emissions beginning in 2009. The California Air Resources Board (CARB) approved both items following a public hearing where about two dozen stakeholders testified largely in support of the actions. Under A.B. 32, the state must reduce greenhouse gas emissions to what they were in 1990 by 2020. Using a variety of data-related fuel combustion, industrial processes, and agricultural practices, the agency established the 1990 baseline at 427 million metric tons of carbon dioxide equivalent. This means the state must curb greenhouse gases by 173 million tons by 2020.
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SIGMA Weekly Report December 10, 2007 © Copyright SIGMA, 2007
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