The new energy bill snaking its way through Congress will probably not provide lower gas prices in the near future, but should lead to future diversification of energy sources. As our new Secretary of Energy Samuel Bodman says about gas prices: "This is a problem that's been years, if not decades, in the making. It's going to take years, if not decades, to deal with it." With that in mind, the bill looks to provide tax incentives for hybrid, hydrogen, and diesel vehicles, while not increasing CAFE standards beyond the changes scheduled to occur over the next three years. Bodman acknowledges that there are finite resources of oil and natural gas and that demand seems to be close to outstripping supply. Let's hope that the energy bill actually helps the situation, as opposed to the past three decades where we've dealt with energy concerns with a combination of military might, wishful thinking, and pork-barrel handouts to campaign donors.
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