New legislation proposes slashing 'Big Oil' subsidies to promote renewables

For some solar policy advocates, a recent bill introduced in Congress would appear to represent their dream legislation. After all, its purpose, as summarized simply in its introduction, is "to provide incentives for clean energy and to repeal fossil fuel subsidies for big oil companies."

This bill, called the Investing to Modernize the Production of American Clean Energy and Technology Act of 2012 (IMPACT Act), made an appearance on the U.S. House of Representatives' floor last week, when it was introduced by Reps. Ed Markey, D-Mass.; Henry Waxman, D-Calif.; John Larson, D-Conn.; Earl Blumenauer, D-Ore.; and Bill Pascrell Jr., D-N.J.

Senate passes transportation bill, votes down big oil, but also renewable energy PTC

The Senate passed the $109 billion Transportation Bill today in a bipartisan 74-22 vote. When it's passed by the House, it will fund road and transit projects for the next two years.

The current bill expires at the end of this month, putting pressure on the House.

"This is a jobs bill; 2.8 million jobs hang in the balance," says Environment and Public Works Committee Chairwoman Barbara Boxer (D-CA).

Yesterday, the Senate voted on several important amendments to the Transportation bill.

All the amendments failed: the Renewable Energy Production Tax Credit (PTC) was not extended; the bid to open oil and oil shale drilling everywhere was defeated, as was the attempt to eliminate ALL energy tax breaks and retroactively rescind renewable energy tax breaks that have already been granted.