Deconstructing the Energy Bill
On Dec. 19, President George W. Bush signed into law the Energy Independence & Security Act of 2007, a bill that, among other things, raised fuel economy standards for the first time in 32 years and set a Renewable Fuel Standard that will mandate the use of renewable biofuels by energy producers. He defined it as "a significant step" towards energy independence. And indeed, it is progress if you compare it to this Administration's previous laissez-faire approach to fuel economy standards. But what of energy innovation?
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