There's a great deal of media commentary and interest in tomorrow's energy bill vote. It's being backed by President Obama, who called the bill 'extraordinarily important' at a White House news conference earlier this week. Weighing in at a hefty 1,201 pages, the document obviously covers a huge range of ideas and implications - though in a nutshell it focuses on limiting emissions of carbon dioxide and other harmful gases that have been blamed for global warming.
It's being sponsored by Representatives Henry A. Waxman (D-CA) and Edward J. Markey (D-MA) and also includes a number of provisions to offset carbon emissions created by agriculture.
With a bill as far reaching as this, there are obvious wrangling about costs, winners and losers – and how different markets, industries and regions will be affected. For example, there are concerns that if the bill is passed it may act as national energy tax that could destroy jobs in the manufacturing sector, or impact states such as Indiana, which currently gets 94% of its energy from coal, an obvious high-carbon fuel. The list is seemingly endless, and hard to generalize or prioritize.
In a difficult economy, there are also concerns about increasing fuel costs. The Congressional Budget Office and the E.P.A. have responded to reassure the American public that the rise in utility bills for households and companies wouldn't leap up by an extortionate amount. The E.P.A. has also been quick to point out that because of the efficiency provisions in the bill, by 2020 utility bills would be on average 7% lower than if there was no change in the law at all.
It's easy to see both sides of the argument. At The Refinishing Touch, we're in the enviable position of saving businesses and organizations money while promoting sustainability and protecting the environment. The bill needs support but with it going to have an impact on 306 million Americans, its uncertain what effect the bill will have in the end and understandable there is debate. But regardless of the outcome, it’s an important bill that facilitates dialog on energy and the environment and we believe that it is an important step in advancing the discussion. The energy bill is turning on light bulbs for both sides.
