Energy Policy Act
1992: Why was it made?? 0.o
- Was first intended to provide incentives for renewable energy,
- Become less dependent on foreign oil
- Promote the idea of energy conservation and make energy more efficient
In its creation, it allowed for tax credits to be made.
It also amended the National Energy Conservation Policy Act of 1978
This then allowed for a new source of generators to be created, which then led to synthetic oils and gasses to be used as energy.
2005: What's new?
Was the second policy passed by George W. Bush
This year accomplished many thing:
- It created a Renewable Fuel Standard which mixed biofuel into gasoline
- Gave a total of $50,000,000 to biomass and development research
Although there were some hidden negatives such as:
- Loopholes for natural gas producers
- Left out natural fluids for Hydraulic Fracturing
- PUHCA was repealed and allowed for unfair practices
- PURPA discontinued companies financially from long term contracts
2007: Progress is Ahead ---->>>
This year gave way for a look into the future, how you ask? 3 ways
- EISA, otherwise known as Energy Independence & Security Act was signed into law
- Tax payers were forced to increase taxes toward the development of biofuels
- And CAFE (Corporate Average Fuel Economy) stated that all cars by the year 2020 would be set at a MPG of 35, 35 being the minimum