The Energy Independence and Security Act of 2007
According to the White House News, the Act “represents a major step forward in expanding the production of renewable fuels, reducing our dependence on oil, and confronting global climate change. It will increase our energy security, expand the production of renewable fuels, and make America stronger, safer, and cleaner for future generations.”
They also outlined that measures taken in the Bill will created some of the largest carbon emissions in the history of the United States. The White House News reports that, “Taken together, all of these measures could reduce projected CO2 emissions by billions of metric tons. These results help advance the U.S. commitment at the UN climate change meeting in Bali last week to pursue quantifiable actions to reduce carbon emissions.”
Summary of the Act from the CRS Report for Congress
“The Energy Independence and Security Act (P.L. 110-140, H.R. 6) is an
omnibus energy policy law that consists mainly of provisions designed to increase
energy efficiency and the availability of renewable energy. This report describes the
key provisions of the enacted law, summarizes the legislative action on H.R. 6, and
provides a summary of the provisions under each of the titles in the law.
The highlights of key provisions enacted into law are as follows:
Corporate Average Fuel Economy (CAFE). The law sets a target of
35 miles per gallon for the combined fleet of cars and light trucks by
model year 2020.
Renewable Fuels Standard (RFS). The law sets a modified standard
that starts at 9.0 billion gallons in 2008 and rises to 36 billion
gallons by 2022.
Energy Efficiency Equipment Standards. The adopted bill includes
a variety of new standards for lighting and for residential and
commercial appliance equipment. The equipment includes
residential refrigerators, freezers, refrigerator-freezers, metal halide
lamps, and commercial walk-in coolers and freezers.
Repeal of Oil and Gas Tax Incentives. The enacted law includes
repeal of two tax subsidies in order to offset the estimated cost to
implement the CAFE provision.
The two most controversial provisions of H.R. 6 that were not included in the
enacted law were the proposed Renewable Energy Portfolio Standard (RPS) and most
of the proposed tax provisions, which included repeal of tax subsidies for oil and gas
and new incentives for energy efficiency and renewable energy.”