alw 0 #1 October 1, 2008 This is essentially modification to existing legislation that the Senate had passed. In some cases it increases provisions in others it extends provisions. It is very comprehensive and as a Power Generation Executive I can say with some degree of certainty that our legal departments will be looking it over carefully AFTER IT HAS PASSED because we won't have any chance of getting ahead of it. By and large it is good legislation that will need tweeking. There are parts that won't work but that is for another time. It tries to address conservation, environment, research and development, construction, and innovation. It also has several provisions designed to support a greater energy independence using alternatives (small impact) and coal development (large impact) while keeping the environament in mind, Here are a few points. - Trying to help dig more coal for export - Trying to help produce more electricity from coal - Trying to encourage cleaner coal use and CO2 capture - Encouraging smaller alternative generation such as for a house or farm via wind or solar. This is essentially an extension of credits beyond 2009. - Encouraging wave and tide as well as small hydro. - Making trading easier for electricity producers - Incentivizing CO2 reduction - Regulatory reform - Provisions for helping victims of past health and safety issues predominantly in the coal industry. - Some effort to help the steel industry. Sorry for the generalities but this is a big section and is somewhat complex in cause and effect. I'm hopeful that it won't be to controversial. --------------------------------------------- Every day is a bonus - every night is an adventure. Quote Share this post Link to post Share on other sites
