Hillary Clinton's energy plan calls for 55 MPG, $10,000 PHEV tax credit and much more
Hillary wants to increase current renewable fuel goal from the current level of 7.5 billion gallons by 2012 to 36 billion gallons per year by 2022 and to 60 billion gallons by 2030. The energy plan calls for a greenhouse gas emissions target for cellulosic and other advanced biofuels to ensure that they move over time towards a standard of emitting at least 80 percent fewer greenhouse gases as compared to gasoline. The energy plan also include loan guarantees to spur the first two billion gallons of cellulosic ethanol capacity.
Hillary's energy plan also calls for a $10,000 tax credit for plug-in hybrids, $2 billion investment in battery research and 100,000 PHEVs in the federal fleet by 2015. AutoblogGreen is all about green transport but there are some really good ideas about smart power grids development and new law forcing corporations to consider climate change that just might impact large automakers in a green way too.
IMHO this is the best energy plan from any of the Democratic candidates. Tell me what you think of this plan in comments. Is 55 MPG impossible or 2030 too much time? Are all those billions just a bribe to corporations to accept these new standards? Below the fold are some quotes from a PDF about Hillary's energy plan. Clinton will speak all week about energy and we will have much more as the story develops.
[Source: Hillary Clinton's website and tipster OhmExcited]
Increasing Vehicle Fuel Economy Standards to 55 Miles Per Gallon: Hillary would raise fleet-wide fuel economy standards from the current level of 25 miles per gallon (mpg) to 40 mpg in 2020 and 55 mpg in 2030. By 2030, these tough CAFE standards will save consumers more than $180 billion per year and reduce carbon dioxide emissions by more than 730 million metric tons. In addition, Hillary would reform the fuel economy system while ensuring that it encourages the continued production of small cars here in the United States. Cars and light trucks account for about 40 percent of the 21 million barrels of oil consumed every day in the United States. Yet the average fuel economy of American cars has stagnated for the last 15 years. And as our country and economy have grown, flat fuel economy has meant increasing dependence on foreign oil, and an untenable foreign trade situation in which the United States transfers funds that are borrowed from China to Saudi Arabia.
Increasing production of biofuels to 60 billion gallons by 2030: Home-grown biofuels can reduce our dependence on foreign oil and cut greenhouse gas emissions. Rapid growth of corn ethanol production capacity in recent years and emerging technology that will enable production of ethanol and other biofuels from a range of biomass sources indicate the potential of biofuels to displace a significant amount of gasoline. To spur increased production of ethanol and other renewable fuels, Hillary would raise the national renewable fuels goal from the current level of 7.5 billion gallons by 2012 to 36 billion gallons per year by 2022 and to 60 billion gallons by 2030. "Advanced biofuels," such as cellulosic ethanol, would comprise an increasing share of that target over time. Hillary will set a greenhouse gas emissions target for cellulosic and other advanced biofuels to ensure that they move over time towards a standard of emitting at least 80% less greenhouse gas as compared to gasoline. In addition, she would provide loan guarantees to spur the first two billion gallons of cellulosic ethanol capacity.
Helping Automakers Meet the Energy Challenge: Domestic automakers face serious competitive challenges due to higher labor costs, older equipment, and higher health care costs than their competition. But they are demonstrating the vision to meet our future energy needs by proposing to build plug-in hybrid vehicles that can run on electricity and flex-fuel vehicles that can run on ethanol. Hillary would authorize $20 billion in low-interest "Green Vehicle Bonds" in order to provide immediate help to retool the oldest auto plants to meet her strong efficiency standards. She will address retiree health legacy costs by providing a tax credit for qualifying
private and public retiree health plans to offset a significant portion of catastrophic expenditures that exceed a certain threshold.
Accelerating the Production of "Plug-In" Hybrid Electric Vehicles: - A Plug-In Hybrid Electric Vehicle (PHEV) is a hybrid gas-electric vehicle with a more powerful battery that can be plugged into any regular outlet. It can be filled up at the gas station, and it can be "filled up" at home by plugging it into a standard outlet. Half the cars on America's roads are driven 25 miles a day or less, so a plug-in with a 25-mile range battery could eliminate gasoline use in the daily commute of tens of millions of Americans. A recent study showed that a vehicle powered by electricity releases one-third less global warming pollution into the environment than a gasoline powered vehicle, even if the electricity comes mostly from coal-fired power plants. PHEVs offer the promise of achieving more than 100 miles per gallon of gasoline consumed; and a flex-fuel PHEV running on E85 can potentially get 500 miles per gallon of gasoline. Hillary would invest in research and stimulate demand for the first commercial PHEVs by:
• Investing $2 billion in research and development to reduce the cost and increase the longevity and durability of batteries;
• Offering consumers tax credits of up to $10,000 for purchasing a plug-in hybrid; and
• Adding 100,000 PHEVs to the federal fleet by 2015.
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