Homebrew,
Yes, I have read the new Energy Policy. I think it is a joke but we may disagree on why.
Take a look at it again. Can you actually find any no strings attached subsidies? It is all strings attached subsidies but I wonder if any are large enough to actually be useful at encouraging the desired behavior.
Strings attached examples:
Drill in the deep water of the Gulf of Mexico and get your royalty fees cut. Are the fees cut enough to cause a rush of deepwater drilling or is it still too expensive.....You have to drill to claim the subsidy-string attached.
Build more energy efficient appliances and get a tax credit. You still have to actually build the new appliances to claim the subsidy-string attached.
Buy a hybrid car and get a tax break. You still have to buy the car to claim the subsidy-string attached.
(I'm considering personally taking advantage of this one. The money for this tax break to the end consumer is 10% of the entire energy policy!)
Build an ethanol factory get a tax break. You still have to build the factory to claim the subsidy-string attached.
Cost overrun support for building a nuclear reactor. You still have to build the nuke to claim the subsidy-string attached.
The appropriate talking point criticism of the energy bill is something along these lines:
The bill does nothing to reduce dependence on foreign oil. - TRUE
The big oil companies don't need these subsidies at all because they're making money hand over first and should just do all these things we want anyway regardless of cost. - BUT THEIR MANAGEMENT AND STOCKHOLDERS AREN'T GOING TO WITHOUT SERIOUS FINANCIAL ENCOURAGEMENT. IT IS AS IF THEY BEAR THE SCARS OF DECADES OF GOVERNMENT ASSAULTS AND NIMBYs.
The problem with the energy bill is the government is trying to meddle in a globalized private industry to encourage certain behaviors and this always becomes very complicated. Private industry very well could look at the bill and all the complaints and just ignore it as still not being worth their efforts. I haven't seen a rush to permit refineries or nuclear power plants and 1/3 of the entire bill is nuclear related. If the industry ignores it, do we double the bid?