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June 29, 2005
Rockefeller Lauds Senate Energy Bill for Production, Conservation, Innovation Elements; Bill Contains Jay's Provisions on Clean Coal Technology
by HNN Staff
from Rockefeller Press Release
Washington, D.C. (HNN) - The Energy bill passed 85-12 by the U.S. Senate Tuesday, June 28, 2005, includes tax incentives proposed by U.S. Sen. Jay Rockefeller (D-WV) to increase the development and commercial deployment of clean coal technologies. According to estimates by industry officials and the Department of Energy, Rockefeller's provision could jumpstart the construction of at least 12 new state-of-the-art clean coal power plants to meet America's growing demand for electricity in a cleaner, more efficient fashion. The new plants would also generate greater demand for West Virginia's abundant coal resources.
"At a time of turmoil in the international energy markets, we need to find every opportunity to expand our domestic energy production," said Rockefeller. "Clean coal has to be a part of that solution. Coal has the potential to meet our nation's growing energy demands for years to come, and recent technological advancements will allow us to do so in a way that is more environmentally-friendly than ever before.
"Today's bill represents a significant advancement for clean coal technology, and a great victory for West Virginia's coal industry."
Rockefeller was the lead author of the Senate Finance Committee's provision on clean coal incentives, and he led a bipartisan effort to increase the number of megawatts eligible for a 20 percent investment tax credit by 1000 megawatts to 7500 megawatts. The additional capacity will enable energy companies and tax-exempt entities planning new facilities to bring online 6 or more new integrated gasification combined cycle generation (IGCC) plants and a similar number of new advanced combustion facilities. The tax incentives would also be available for new industrial gasification installations, allowing chemical plants and other industrial sites to replace expensive natural gas currently being used as feedstock and fuel.
While pleased with the bill overall, Rockefeller expressed concern that with gas prices at record levels, the Senate again refused to increase automobile mileage standards. An increase in automobile gas mileage would make it easier for families to afford gasoline over the long-term and could have even driven down prices in the short-term.
The Senate bill now goes to a conference committee to be reconciled with the House bill. Rockefeller voted for the Senate bill.
