- By 2020, carbon pollution will be reduced by 17 percent compared to 2005 levels. By 2050, an 80 percent reduction is slated.
- Offshore drilling is encouraged and expansion is expected throughout the mid-Atlantic states.
- Individual states could reject drilling, but any state that participates would get 37.5 percent of revenues from drilling to put towards protecting its coastline.
- Large corporations, those that emit more than 25,000 tons of carbon per year, will have until 2016 to reduce emissions coming from production facilities and will receive pollution permits to help offset the costs associated with complying to new standards.
- The U.S. government will spend $2 billion a year for additional clean coal efforts.
- Consumers will receive rebates that help alleviate additional costs of moving away from fossil fuels and towards more expensive energy alternatives such as solar and wind power.
- $54 billion in loan guarantees will be set aside for nuclear power generation.
- $7 billion will go towards improving mass transit, constructing more efficient highway systems and additional investments in clean vehicle technologies.
- Incentives will be laid out for converting heavy-duty trucks from petroleum over to natural gas (T. Boone Pickens is happy).
[Source: Reuters | Image: Mikael Miettinen - C.C. License 2.0]