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:

    1. It created a Renewable Fuel Standard which mixed biofuel into gasoline
    2. 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    • PUHCA was repealed and allowed for unfair practices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

      1. EISA, otherwise known as Energy Independence & Security Act was signed into law
      2. Tax payers were forced to increase taxes toward the development of biofuels
      3. 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

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