BUDGET:
Energy issues high on lawmakers' supercommittee wish lists
Greenwire:
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Energy issues are cropping up on the wish lists of lawmakers from both sides of the aisle as they urge the congressional "supercommittee" to consider their ideas for ways to reduce the deficit.
As the deadline looms for committee leaders to pitch spending-cut proposals to the 12-member budget panel, other lawmakers and coalitions are also taking the opportunity to make suggestions.
A group of 50 House lawmakers yesterday called on the panel to carve out a spot for clean energy technologies in its deliberations.
"As your committee continues its deliberations toward addressing the unsustainable federal deficit, and sets priorities for federal spending for the coming decade, we urge you to prioritize robust investments and incentives supporting domestic innovation, commercialization, manufacturing and deployment of renewable energy and energy efficiency technologies and resources," the Sustainable Energy and Environment Coalition wrote in a letter to the supercommittee.
"As your committee examines the federal budget and considers necessary cuts, revenues and investments, we urge you to prioritize federal support for the American jobs that will be created by clean energy, and a more prosperous, sustainable and secure American economic future," said the group, led by Democratic Reps. Jay Inslee of Washington and Steve Israel of New York.
The request comes as the 12-member panel, created as part of the high-profile August deal to raise the federal debt limit, is nearing the end of its window to propose a more than trillion-dollar deficit-reduction package. The debt limit deal gives lawmakers until Nov. 23 to vote on a supercommittee package, but a proposal would need time for Congressional Budget Office scoring and debate in both chambers before that deadline. The deal asks committee leaders to recommend spending cuts by today.
Democrats on the House Energy and Commerce Committee yesterday rolled out their plan for the panel, which calls for spending on energy efficiency programs and clean energy exports. The plan derives from legislation the panel's Democrats steered through the House last year.
"It is imperative that we not surrender the clean energy market to China and other countries," California Rep. Henry Waxman, the committee's ranking Democrat, wrote in a letter to the debt reduction panel yesterday. "The United States must have policies and incentives that are adequate to ensure that our manufacturers can compete effectively in the global clean energy market" (Greenwire, Oct. 13).
He said his proposals would involve spending $16 billion up front but would save $150 billion over 10 years.
Republicans, on the other hand, are calling for increased access to federal lands for oil and gas drilling. House Natural Resources Chairman Doc Hastings (R-Wash.) and Senate Energy and Natural Resources ranking member Lisa Murkowski (R-Alaska) both told The Hill this week that their recommendations included boosting federal revenues from more resource extraction on federal lands.
Another Republican, Sen. Richard Lugar of Indiana, is pitching a proposal that he says would raise $130 billion to $170 billion in revenue over the next 20 years by boosting development from aging oil fields. Lugar's plan revolves around enhanced oil recovery, a process that involves pumping carbon dioxide into aging oil wells to reinvigorate old wells.
He says an initial investment of $21 billion to $30 billion for infrastructure to connect oil fields with CO2 streams from power plants would yield at least $130 billion in revenue by 2030.
"Large new revenues would be generated by the increased economic activity that would come from more domestic oil production without requiring any adjustments to existing tax rates on oil producers," he wrote in his letter to the supercommittee.
But not all lawmakers -- or committee leaders -- are offering up their ideas. Senate Energy and Natural Resources Chairman Jeff Bingaman (D-N.M.) said he is not planning on pitching a plan to the panel.
"I think they've got lots of advice on the supercommittee without us trying to do it," he said at an event this week in Washington.
Click here to read the SEEC letter.
Click here to read Lugar's letter.