On Wednesday, Republicans in the U.S. House of Representatives pushed to include nuclear power and “clean coal” as alternative energy resources used for electricity, reports Richard Cowan for The Washington Post. Democrats are gunning for renewable sources in wind and solar power.
Provisions still being negotiated include: Permits that may be given to oil refiners. A $17 billion fund for R&D of alternative fuels. Better trade protection for U.S. companies that would have to compete against foreign firms not compliant to carbon-emission rules. Cap and trade bill that may cause higher energy prices.
The PowerShares WilderHill Clean Energy (PBW), currently up 4% year-to-date, seeks to track the WilderHiill Clean Energy Index, which delivers capital appreciation through selection of companies focused on green and renewable energy sources and clen energy technologies.
The energy and climate bill circulating in the House of Representatives may include a scaled-back renewable power target of 15% by 2020, writes Ben Geman for The New York Times. This will require utilities to supply power from wind, solar and biomass sources.
The draft limits sources for biomass harvesting. Municipal solid waste will be counted among sources of renewable energy. Energy efficiency resource standard (EERS) are no longer included.
Max Chen contributed to this article.