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 The U.S. House of Representatives passed a Democratic rewrite of the American energy policy that will take away $16 billion in tax incentives from "Big Oil" domain and transfer this money to renewable energy resources like solar energy and wind energy. "Big Oil" is an expression that is used for definition of individual and general economic power of largest refiners and manufacturers in oil and gasoline industry and refers to huge political influence, especially in USA. Companies that are usually connected with term "Big Oil" are Exxon Mobil, Royal Dutch Shell, BP, Total S.A., Chevron Corporation and ConocoPhillips. These changes of energy police are initiated from Democrats.
"It's an historic turn away from a fossil fuel agenda and toward a renewable energy agenda for America" - said democrat Ed Markey and added "It has been a long time coming." Republicans aren’t satisfied with the way things are currently developing and are calling this «no-energy bill because it has no initiative for new drilling. Republicans have additional remarks because this bill reaches to center of American economy which is still significantly relying on use of fossil fuels, and these changes are decreasing money exactly in fossil fuels' domain.
Additionally, controversial amendment was also voted that is obligating producers of electrical energy that until the year 2020 they have to produce 15 % of electricity from renewable energy resources. If these changes will past final legislative procedure it will be first time in history that U.S. government sets global standards that will define quantity of electricity that must be gained from renewable energy resources. White House of course, instantly reacted and is already threatening with veto and the main reason for this is White House's concern that these changes will increase price of energy and are not giving solutions for high energy price nor are encouraging domestic energy production.
Additional bill that will have negative influence on companies from «Big Oil» domain refers to car's fuel consumption. Americans traditionally love big cars that have large fuel's consumption. This large fuel's consumption is also the result of large car manufacturers' weak interest for efficiency of engines that they're putting to their cars, and big cars in combination with energetically inefficient engines have huge fuel's consumption. European and especially Japanese car manufacturers are in this segment of car's energetic efficiency miles ahead of American manufacturers. In order to improve energetic efficiency of the new American vehicles, Senate approved bill that sets new standards of consumption to 35 miles per gallon (appr.6, 72 liters to 100 km) till the year 2020. This bill is strongly criticized by car industry's executives that are saying that this bill would be ruining already struggling American car manufacturers like General Motors or Ford. |
