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The Strategic Energy Efficiency and Renewables Reserve in the CLEAN Energy Act of 2007 (H.R. 6)

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Publication Date: April 2007

Publisher(s): Library of Congress. Congressional Research Service

Series: RS22571

Topic: Energy (Renewable energy sources)

Abstract:

H.R. 6 would use revenue from certain oil and natural gas policy revisions to create an Energy Efficiency and Renewables Reserve. The actual uses of the Reserve would be determined by ensuing legislation. A variety of tax, spending, or regulatory bills could draw funding from the Reserve to support liquid fuels or electricity policies. The House budget resolution (H.Con.Res. 99) would create a deficit-neutral reserve fund nearly identical to that proposed in H.R. 6. The Senate budget resolution (S.Con.Res. 21) would create three reserve funds with purposes related to those in H.R. 6. However, the Senate version has more specifics about efficiency and renewables measures, and it would allow reserve fund use for "responsible development" of oil and natural gas.