Energy Policy Act of 2002

Balancing Energy Production, Energy Efficiency

April 26, 2002
12:00 AM
-- Reduces America‚Äôs dependence on foreign oil -- Increases domestic supplies of fossil fuels -- Promotes new sources of affordable, reliable, clean energy -- Protects the environment -- Creates hundreds of thousands of new jobs -- Addresses important policy goals like Climate Change Includes -- Electricity Reform w/Consumer Protections -- Easier Use of Renewable Power (RPS) -- More Than $14 Billion in Energy Tax Incentives -- Expedites Alaska Natural Gas Pipeline -- Pipeline Safety -- Low income Home Energy Assistance -- Price Anderson Act Reauthorization ∙ Ensures a diversity of fuels and technologies for adequate and affordable supplies of energy in the future, including renewables, natural gas, oil, coal, hydropower and nuclear power; ∙ Improves the efficiency and productivity of energy transmission and use, including the reliability and productivity of our electric transmission system, and the efficiency of energy use in industry, commercial equipment, appliances and buildings; ∙ Addresses other important policy goals, such as global climate change, protection of the environment and economic development in making energy policy choices. These goals are met by accelerating the development and introduction of new energy technologies, and the creation of flexible and consumer-friendly energy market conditions. Increased and more diverse energy supplies through: ∙ a renewable portfolio standard and incentives to increase the amount of U.S. electricity produced from renewable energy sources (e.g., solar, wind, geothermal and biomass) by 2020; ∙ expanding the amount of renewable fuels used in motor vehicles to 5 billion gallons in 2012; ∙ lowering barriers to installation of distributed power generation facilities, such as fuel cells and combined heat and power facilities; ∙ procedures to expedite construction of a pipeline to bring 35 trillion cubic feet of natural gas stranded on the North Slope of Alaska to the lower 48 states; ∙ increasing funds to speed the permitting of new domestic oil and gas production, and to assist independent U.S. producers in adopting new oil exploration and production technologies; ∙ assisting Native Americans to fully tap the energy resource potential of their lands; ∙ investing in R&D to ensure a full range of fuels and technologies are available (from clean, emission-free coal technologies to ultra-deep drilling to nuclear to fuel cells and renewable technologies). Improved efficiency and productivity of energy transmission and use by: ∙ clarifying the roles of the FERC and the states in regulating electricity through fair, consistent rules; ∙ making adherence to rules protecting the reliability of the interstate electric grid mandatory; ∙ giving FERC the tools to ensure that competitive electricity markets work well to provide consumers with affordable energy, including through more transparent information on markets; ∙ requiring the FTC to protect consumers from unfair trade practices and to provide consumers with better information on their energy choices. Improves the efficiency in all areas of energy use by: ∙ requiring higher fuel efficiency in future federal purchases of automobiles for civilian use; ∙ saving 16 trillion BTUs of energy each year in federal buildings; ∙ helping state and local governments save energy in public schools and public housing; ∙ encouraging a 25 percent increase in industrial energy efficiency over 10 years; ∙ setting new efficiency standards for commercial and consumer products; ∙ increasing funding for the Low Income Home Energy Assistance Program to $3.4 billion per year; ∙ increasing federal investment in R&D on energy efficiency to over $1 billion per year by 2006 in such areas as next generation lighting technologies. Integrates energy policy with other policy imperatives by: ∙ strengthening energy infrastructure security through cooperative programs between the Department of Energy and the energy industry; ∙ funding R&D to deal with the legacy of past environmental problems caused by energy production; ∙ opening and expanding international markets for U.S. clean energy technologies; ∙ integrating energy policy with climate change strategy through new, high-level coordination by a White House Office of National Climate Change Response; ∙ conducting a major expansion of global climate change science programs; ∙ funding R&D on long-term, breakthrough technologies that could reduce greenhouse gases; ∙ establishing a national greenhouse gas database to track major sources of emissions and allow registry of emission reductions.