NY TIMES CALLS FOR NEW ENERGY

Reading this NY Times editorial might seem a lot like reading a NewEnergyNews post: “…scientists have left no doubt that the world has just a few years to make deep cuts in emissions or begin to suffer the worst consequences of rising temperatures. This means that scientists will have to figure out a way to capture carbon dioxide from coal plants, or coal will have to be replaced with cleaner fuels…the failure — by both the Bush administration and Congress — to encourage alternative sources of power is distressing."

A bill about to come before the House attempts to remedy the Bush administration and Congressional failure by renewing tax credits for New Energy and financing them by shifting incentives and subsidies from fossil fuels. The Times calls the fossil fuel incentives and subsidies “…wholly unnecessary…”

Regarding the New Energy tax credits, the Times says, “These incentives have been critically important to the development of wind and solar power; wind power has become increasingly cost-competitive with natural gas, although not yet with coal. Investors are unlikely to pump much new money into clean power unless they are sure the credits will be available next year…”

On this map, both senators in the green states voted for New Energy incentives in the economic stimulus package, one of the two senators in the gray states voted for them and neither senator in the red states voted for them. That is the information. The rest is up to voters. (click to enlarge)

Clean Power or Dirty Coal?
Editorial, February 10, 2008 (NY Times)

WHO
NY Times editorial board; U.S. Congress; the American Wind Energy Association (AWEA)

WHAT
The Times advocates extending the production tax credits (PTCs) and investment tax credits (ITCs) for New Energy as well as a national Renewable Electricity Standard (RES).

Like NewEnergyNews, the Times advocates a national Renewable Electricity Standard (RES) like those implemented by more than half the states. (click to enlarge)

WHEN
- If not extended, the tax credits will expire at the end of 2008. AWEA has already observed a drop in spending for new projects.
- The tax credits were dropped from the 2007 energy bill and February’s economic stimulus package.
- They are part of new energy legislation to be introduced in the House in late February.

WHERE
- Oppostion to coal in Texas forced the transfer in ownership of TXU to include a prohibition of new coal plants.
- A proposed new coal plant near the Florida everglades was cancelled.
- A western Kansas coal plant is facing major opposition and the state has ruled its greenhouse gas emissions a health hazard.

Properly supported by government policy, New Energy - Renewable Energy (RE) and Energy Efficiency (EE) - can provide millions of new jobs in the coming decades. (click to enlarge)

WHY
- Coal-fired power plants are responsible for at least 1/3 of U.S. greenhouse gas (GHG) emissions.
- The Times specifies 2 crucial items dropped from the 2007 energy bill it urges Congress to take up: (1) The national Renewable Electricity Standard (RES) requiring U.S. utilities to obtain 15% of their power from New Energy by 2020. (2) Incentives for New Energy, including the ITCs and PTCs funded from a shift in incentives and subsidies to the fossil fuels industries.

Maybe this guy can get the idea across. (click to enlarge)

QUOTES
Times: “…the surest and probably the only way to encourage meaningful and swift commercial development of cleaner fuels and energy sources is to put a stiff price on carbon emissions. That, in turn, would inspire — indeed require — industry to invest heavily in energy efficiency and low-carbon fuels…until Congress sets such a price, through a carbon tax or a cap-and-trade program — and it is a long way from doing so — every effort should be made to encourage the development of alternative energy sources. The first step is to extend the tax credits for alternative sources like wind and solar power.”