The 2007 RFS breaks new ground because it counts carbon and makes carbon count: If everything goes according to plan, the global warming pollution avoided by the RFS will amount to roughly 100 million metric tons of carbon dioxide per year by 2022.
Recent publications have called attention to the importance of properly accounting for changes in land use caused by biofuel production.
Increased demand for corn raises prices, and farmers all around the world respond by clearing land to increase production.
Energy bill mandating 36 billion radiometric dating controversy
Based on the statements of President-elect Obama and the record of the newly expanded Congressional Democratic Majority, however, there is little doubt that the momentum for increasing domestic energy production will come to a grinding halt.
Taking him at his word, President-elect Obama is largely opposed to increasing the nuclear, oil, natural gas and coal energy supplies that powers our economy today and for the foreseeable future.
It’s not like the largest five oil companies haven’t racked up record-breaking profits (more than $315 billion), are sitting on nearly $60 billion in cash, and are so flush they’ve bought back $140 billion of their stock.
Doubtless you will shed a tear for their plight each time you fill your tank.
And the Leaders on Capitol Hill, notably Senate Majority Leader Harry Reid (D-NV) and House Speaker Nancy Pelosi (D-CA), have expressed open hostility to the increased domestic production of oil and coal in particular.
The following is expected to top the legislative and regulatory agenda in Washington in the coming years with respect to energy and the environment.
For more information, see our fact sheet on land use changes and biofuels.
Before Wall Street’s implosion and the sharp economic downturn, energy policy dominated the headlines on the Presidential campaign trail.
“It encourages job creation, protects and sustains our natural resources, reduces our carbon footprint and would benefit the health and well-being of our citizens in immeasurable ways.