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Mark Graffis wrote:
UPDATE - Bush pushes renewable energy in new budgetUSA: February 5, 2002
WASHINGTON - President Bush this week proposed a 2.7 percent increase in the Energy Department's discretionary spending for the 2003 spending year and the administration calls for significant tax incentives to encourage energy efficiency and use of renewable resources.
The Energy Department would get $21.92 billion in under the president's new budget, up $582.2 million from current levels.
Preliminary numbers released by the administration, the department's budget would have increased by 4.6 percent.
The Energy Department's oil and natural gas research programs were slashed, while renewable energy and efficiency programs received a slight funding boost.
The president's new budget is in sharp contrast to last year, when environmentalists accused the administration of gutting renewable programs, some by up to 50 percent, in favor of research on traditional fossil energy. Congress eventually restored most of the money.
For the 2003 spending year that begins on Oct. 1, the administration proposed cutting fossil research programs by 16 percent, or $93 million, to $494.2 million.
But several specific programs take a much bigger hit. Natural gas technology research would be cut 50 percent to $22.6 million. Oil technology research would drop 37 percent to $35.4 million.
By contrast, the department's programs for renewable energy and energy efficiency would see a $10.1 million increase, or 1 percent boost, to $1.312 billion.
Grants to help 123,000 low-income families weatherize their homes to save energy would increase 20 percent, or $47.1 million, to $277.1 million.
The administration's budget includes several new energy tax incentives and extensions of existing ones that would total $9.5 billion over 10 years. Specific proposals would:
* Extend and modify the tax credit for producing electricity from renewable sources, such as wind and biomass ($1.9 billion cost)
* Provide a tax credit for residential solar energy systems ($75 million)
* Provide a new tax credit for the purchase of certain hybrid and fuel cell vehicles ($3 billion)
* Provide a tax credit for energy produced from landfill gas ($1.1 billion)
* Provide a tax credit for investment in combined heat and power ($1.2 billion)
Most of the Energy Department's proposed budget increase would go for its weapons programs, which account for almost half of department spending.
The Energy Department is responsible for maintaining the nation's nuclear weapons stockpile and carrying out related weapons research.
Reflecting heightened security concerns following the Sept 11 terror attacks on American soil, the department's nuclear security programs would see a 5.7 percent increase in funding, or $433.2 million boost, to $8.04 billion.
The budget includes $800 million for a new reserve to speed clean up at several government nuclear waste sites.
Congress will have an opportunity to change the administration's proposed 2003 budget.
Story by Tom Doggett
REUTERS NEWS SERVICE
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