These are exciting times, or perhaps I just have really low expectations after so many years with Bush and Co. But I pinched myself and the news was still true, the Democratic party has passed a renewable energy bill that moves tax breaks away from oil companies and towards renewable energy companies.

from here

Freshman Rep. Jerry McNerney took his first turn in the congressional spotlight Thursday by playing a prominent role in a debate over legislation intended to wean America off oil and foster development of renewable energy sources.

The bill passed the House 264-163; McNerney and Rep. Dennis Cardoza, D-Merced, voted for it, while Rep. Dan Lungren, a Republican whose district includes the Mother Lode, voted against it. Thirty-six Republicans did support the measure, however.

McNerney, who was a wind-energy consultant before he defeated Tracy Rep. Richard Pombo last fall, is emerging as a go-to guy on energy matters in a Democratic-controlled Congress eager to promote green energy sources such as wind, solar or biofuels.

Oddly enough, the bill McNerney helped champion Thursday includes within it a provision designed by Pombo last fall that would punish certain oil companies: Oil firms that now benefit from a 1998 Interior Department error exempting them from paying royalties to the federal treasury must now pay a “conservation fee” if they refuse to fix the error in a new contract.

Firms that refuse to renegotiate contracts would also be barred from winning any new contracts to drill for oil anywhere else in the United States.

The legislation would also scrap nearly $15 billion worth of oil industry tax breaks enacted by Congress in recent years. That tax money will now be used to promote renewable fuels such as solar and wind power, alternative fuels, including ethanol and biodiesel, and provide incentives for conservation.

“This bill is a first step to diversify our energy sources,” McNerney said. “By investing in new energy technologies, we will also create an entire spectrum of good-paying jobs right here in America. In fact, passage of this bill will produce nearly 1 million jobs in the next three years, generating close to $30 billion in new wages.

“I am pleased that we are doing more than just paying lip service to expanding innovation in clean energy by following through on our responsibility to make the environment livable for future generations.”

I will let that sink in for a bit…

Pretty neat huh. You bet your ass its neat! Its great, now all we have to do is get it through the Senate (so the president can veto it weee!)

In all seriousness though this is a groundbreaking piece of law making. The simple fact that this passed the house means that things are changing. A couple of months ago a bill like this would have never left whatever republican controlled committee that it originated in. The Dem’s are really shaking things up. Even if Georgie vetoes this and we continue to funnel billions to oil companies at least we are starting something. In 08 we can simply strengthen the majority of renewable energy candidates in the house and Senate and this wont be a problem (while we are at it mines well get a renewable energy supporter for president as well)