1. Fully fund and implement all the energy efficiency provisions in the 2005 Energy Act (EPACT05).
EPACT05 contains nearly 70 provisions that require federal agencies to undertake research, development and demonstration of new technologies, to engage in public/private partnerships, or to make financial incentives available to the private sector for the development of these new energy technologies, which range from hydrogen and fuel cells to clean coal to greenhouse gas reduction. Many of these measures remain unfunded or have missed their statutory implementation deadlines.
2. Remove barriers to oil and natural gas exploration in the deep waters off our coasts.
An estimated 86 billion barrels of oil and 420 trillion cubic feet of natural gas are available in the U.S. Outer Continental Shelf. Technology is available that allows the country to develop and produce both oil and natural gas in an entirely safe and environmentally sound manner.
By developing the Outer Continental Shelf for oil and natural gas exploration and production, royalty revenues can be shared with coastal states while the federal share will help fund research and development around areas such as energy efficiency, clean coal technology, nuclear waste handling technology and renewable energy deployment.
3. Provide incentives for builders to build more energy efficient homes and commercial buildings.
Buildings are responsible for 38 percent of CO2 emissions, 40 percent of energy use, and 70 percent of electricity use. A combination of federal incentives and local energy efficiency building codes is needed.
4. Pass a long term extension of the tax incentives for energy efficiency and renewable energy.
5. Accelerate deployment and enable a regulatory and liability regime for carbon capture and sequestration to assure the continued use of coal for power.
6. Enable coal as a source of power, fuel and feedstock for value added uses.
We need an "Apollo Project" for coal. One innovative idea is to create a direct loan program to help minimize the risk of constructing "polygeneration" plants that gasify coal and biomass and create power, chemicals and plastics. Coupled with carbon capture and sequestration, this will optimize the carbon efficiency of coal.
7. Accelerate the deployment of nuclear power to help reduce the growth of greenhouse gases.
8. Extend incentives currently available to ethanol and other biofuels to renewable feedstocks.
Many chemical and plastic products can be made using ethanol instead of fossil-derived feedstock.
9. Pass environmentally effective, economically sustainable and fair climate change legislation that establishes a cap and trade mechanism to reduce greenhouse gas emissions.
An adequate energy supply is necessary to assure cost containment within climate change legislation.
10. Promote government and industry-funded R&D into game-changing energy solutions.