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Weekly World Energy News Update - 4th August 2012

OIL Price -- This week was a busy one for US energy policy, and renewable energy tax credits were the focus of legislative battles and Obama-Romney campaign rhetoric. Republicans in the Senate dealt Romney a blow when the Senate Finance Committee passed a one-year extension of the wind energy tax credit. The deciding factor was when Republican Senator Charles E. Grassley of Iowa—where wind energy creates thousands of jobs—threatened to side with the Democrats if Team Romney insisted on removing the $3.3 million tax break.

Also included in the tax break package is a proposal that would boost development in the biofuels sector and include algae among the lists of biomass for biofuels production for the first time. On Wednesday, the Senate Finance Committee submitted a proposal to extend the $1/gallon b

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Submitted Aug 05, 2012 By: mastermariner

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sciotosix Champion Author Dayton Posts:2,889 Points:693,825 Joined:Apr 2011	Message Posted: Aug 6, 2012 6:47:57 AM Ignore sciotosix Report Abuse Gas prices on the rise - same old news.
jlf599 Veteran Author Kentucky Posts:339 Points:126,925 Joined:May 2012	Message Posted: Aug 5, 2012 2:27:23 PM Ignore jlf599 Report Abuse Why not tax credit wind farms? We give enough tax credits to big oil...if we didn't they'd use it as a reason to raise prices to protect giant quarterly profits.
dave27johnson Champion Author Chicago Posts:1,823 Points:433,195 Joined:Feb 2012	Message Posted: Aug 5, 2012 1:13:12 PM Ignore dave27johnson Report Abuse A good summary. Republicans turned out to be for extending tax breaks for wind and biofuels. Also, the House's final report on Solyndra was released. As the article states: The report, the result of an 18-month investigation, failed to find concrete evidence to support GOP allegations that Obama administration officials funded Solyndra in return for campaign donations.
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Aug 5, 2012 12:02:06 PM Ignore knutzAL Report Abuse k
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Aug 5, 2012 12:00:28 PM Ignore knutzAL Report Abuse Jobs in Iowa......Iowa Congressman........ya think?
csblesson Champion Author Texas Posts:1,931 Points:379,700 Joined:May 2012	Message Posted: Aug 5, 2012 11:10:24 AM Ignore csblesson Report Abuse Ok
gbs1 Champion Author Minnesota Posts:2,136 Points:770,075 Joined:Mar 2011	Message Posted: Aug 5, 2012 10:34:41 AM Ignore gbs1 Report Abuse More Washington blah blah blah
rev342 Veteran Author Florida Posts:484 Points:274,630 Joined:Apr 2012	Message Posted: Aug 5, 2012 9:44:05 AM Ignore rev342 Report Abuse Ok
Buck_on_Bass Champion Author Tennessee Posts:7,710 Points:1,481,960 Joined:Jul 2007	Message Posted: Aug 5, 2012 9:35:18 AM Ignore Buck_on_Bass Report Abuse We will have political rhetoric overshadowing facts for the next three months. After the election we may get back to more facts and less politics.
Gas_Eyes Champion Author Dallas Posts:2,817 Points:672,560 Joined:Mar 2011	Message Posted: Aug 5, 2012 9:23:40 AM Ignore Gas_Eyes Report Abuse Energy Secretary Chu being a scientist should have evaluated the technical feasibility of the proposal closer.
beale055 Champion Author Philadelphia Posts:1,292 Points:441,675 Joined:Jan 2012	Message Posted: Aug 5, 2012 9:23:38 AM Ignore beale055 Report Abuse Prices rise rise rise
cdrrod Champion Author Wisconsin Posts:4,291 Points:810,500 Joined:Feb 2006	Message Posted: Aug 5, 2012 9:19:46 AM Ignore cdrrod Report Abuse Here's an update: Gas prices rose in Wisconsin from $3.44 one month ago, to $3.91 avg today. Price at my local Speedway: $4.05! :-(
humblepie Champion Author Toledo Posts:35,351 Points:2,399,070 Joined:Mar 2006	Message Posted: Aug 5, 2012 9:07:55 AM Ignore humblepie Report Abuse more money down the crapper, REMEMBER IN NOVEMBER..............
flatrock14 Champion Author Michigan Posts:2,790 Points:804,480 Joined:Oct 2010	Message Posted: Aug 5, 2012 9:02:18 AM Ignore flatrock14 Report Abuse is there a price decrease here
ec951 All-Star Author Riverside Posts:909 Points:382,065 Joined:Nov 2011	Message Posted: Aug 5, 2012 8:59:33 AM Ignore ec951 Report Abuse Ok.
Xavier80 Champion Author Victoria Posts:1,912 Points:402,895 Joined:Apr 2012	Message Posted: Aug 5, 2012 8:54:55 AM Ignore Xavier80 Report Abuse ok
Lengas Champion Author Gary Posts:13,698 Points:2,745,475 Joined:Nov 2004	Message Posted: Aug 5, 2012 8:39:58 AM Ignore Lengas Report Abuse We need a complete overhaul of our government.
Rick01 Champion Author Utah Posts:9,158 Points:2,389,675 Joined:Sep 2005	Message Posted: Aug 5, 2012 8:39:29 AM Ignore Rick01 Report Abuse A lot of wind blowing there.
nerde Champion Author Florida Posts:6,551 Points:1,340,445 Joined:Jul 2009	Message Posted: Aug 5, 2012 8:36:41 AM Ignore nerde Report Abuse They need to harness the wind from the republicans and democrats
Beardog1FL Champion Author Florida Posts:1,021 Points:693,145 Joined:Feb 2011	Message Posted: Aug 5, 2012 8:36:34 AM Ignore Beardog1FL Report Abuse Why not. Big Oil gets tax breaks.
bozo Champion Author Boston Posts:4,690 Points:2,091,630 Joined:Feb 2003	Message Posted: Aug 5, 2012 8:36:28 AM Ignore bozo Report Abuse business as usual.
justme48 Champion Author New Jersey Posts:2,660 Points:538,970 Joined:Jun 2011	Message Posted: Aug 5, 2012 8:36:17 AM Ignore justme48 Report Abuse It is all politics.
A2J Champion Author Richmond Posts:3,210 Points:629,675 Joined:Aug 2011	Message Posted: Aug 5, 2012 8:34:16 AM Ignore A2J Report Abuse Great
Ziggy1962 Champion Author New Jersey Posts:6,097 Points:1,838,385 Joined:Aug 2006	Message Posted: Aug 5, 2012 8:34:07 AM Ignore Ziggy1962 Report Abuse Ok.
Gearitis Champion Author Waco Posts:1,293 Points:752,110 Joined:Sep 2005	Message Posted: Aug 5, 2012 8:34:03 AM Ignore Gearitis Report Abuse I am not to keen on this, but it happened.
grandpadon28110 Champion Author Charlotte Posts:4,856 Points:1,170,010 Joined:Sep 2008	Message Posted: Aug 5, 2012 8:33:05 AM Ignore grandpadon28110 Report Abuse One more drop in the bucket.
wingryder92 Champion Author British Columbia Posts:6,100 Points:586,680 Joined:Apr 2011	Message Posted: Aug 5, 2012 8:32:58 AM Ignore wingryder92 Report Abuse We have enough oil for generations to come if only we were allowed to develop it. Why subsidize algae when our cars run like crap on biofuels.
Drill4Petro Champion Author Illinois Posts:4,226 Points:1,042,885 Joined:May 2010	Message Posted: Aug 5, 2012 8:32:54 AM Ignore Drill4Petro Report Abuse Bad policy to try to appease Liberals.
bladecutter Champion Author Houston Posts:4,997 Points:1,011,775 Joined:Nov 2009	Message Posted: Aug 5, 2012 8:32:05 AM Ignore bladecutter Report Abuse Politics & politicians.
turbodog Champion Author Mississippi Posts:6,891 Points:1,389,165 Joined:Feb 2009	Message Posted: Aug 5, 2012 8:31:31 AM Ignore turbodog Report Abuse IF the wind is blowing as hard as the politicians, free energy for everyone.
TxMtb Champion Author Ohio Posts:1,670 Points:371,430 Joined:Feb 2012	Message Posted: Aug 5, 2012 8:31:25 AM Ignore TxMtb Report Abuse Just keep giving it away.
NDQ Champion Author Maryland Posts:2,080 Points:408,270 Joined:Apr 2012	Message Posted: Aug 5, 2012 8:31:01 AM Ignore NDQ Report Abuse ok
Ltdc Champion Author Long Island Posts:7,350 Points:1,703,845 Joined:Jul 2007	Message Posted: Aug 5, 2012 8:30:55 AM Ignore Ltdc Report Abuse A politician has to do what they have to do to get re-elected.
speedraider Champion Author Orlando Posts:3,813 Points:1,672,595 Joined:Nov 2005	Message Posted: Aug 5, 2012 8:30:48 AM Ignore speedraider Report Abuse ok
s6sputnik Champion Author Austin Posts:6,332 Points:1,333,645 Joined:Jun 2007	Message Posted: Aug 5, 2012 8:30:16 AM Ignore s6sputnik Report Abuse Ok
cigarman409 Champion Author Massachusetts Posts:4,576 Points:1,854,335 Joined:Jul 2007	Message Posted: Aug 5, 2012 8:29:21 AM Ignore cigarman409 Report Abuse blah blah
mh44s Champion Author Madison Posts:4,525 Points:1,717,510 Joined:May 2006	Message Posted: Aug 5, 2012 8:28:52 AM Ignore mh44s Report Abuse More money wasted.
malfrog1 Champion Author South Bend Posts:2,341 Points:576,935 Joined:Feb 2011	Message Posted: Aug 5, 2012 8:28:25 AM Ignore malfrog1 Report Abuse Political garbage. When do I get a tax break just for existing?
gabisgram Champion Author Michigan Posts:2,326 Points:938,000 Joined:Sep 2006	Message Posted: Aug 5, 2012 8:27:25 AM Ignore gabisgram Report Abuse Politics as usual.
NJColt Champion Author New Jersey Posts:12,765 Points:2,670,235 Joined:Aug 2005	Message Posted: Aug 5, 2012 8:26:21 AM Ignore NJColt Report Abuse I want a tax break. Mine only go UP!
RONALD777 Champion Author Houston Posts:3,614 Points:391,430 Joined:Nov 2007	Message Posted: Aug 5, 2012 8:25:33 AM Ignore RONALD777 Report Abuse Congress is the expert when it comes to wasting money.
yonasb Champion Author Houston Posts:3,463 Points:758,000 Joined:Apr 2011	Message Posted: Aug 5, 2012 8:24:31 AM Ignore yonasb Report Abuse Ok
friday21 Champion Author Toronto Posts:5,576 Points:713,085 Joined:Jul 2010	Message Posted: Aug 5, 2012 8:23:15 AM Ignore friday21 Report Abuse OK
Hunter724 Champion Author New Hampshire Posts:8,257 Points:1,673,550 Joined:Sep 2008	Message Posted: Aug 5, 2012 8:22:46 AM Ignore Hunter724 Report Abuse Only time will tell.......
sabre75 Champion Author Florida Posts:1,663 Points:340,795 Joined:May 2012	Message Posted: Aug 5, 2012 8:21:04 AM Ignore sabre75 Report Abuse Way too much government these days..
memo81 Champion Author St. Louis Posts:2,489 Points:472,200 Joined:Feb 2012	Message Posted: Aug 5, 2012 8:09:33 AM Ignore memo81 Report Abuse Interesting.
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Aug 5, 2012 8:04:38 AM Ignore Agarre Report Abuse so
Evilmaddog Champion Author British Columbia Posts:3,466 Points:985,250 Joined:Aug 2010	Message Posted: Aug 5, 2012 7:47:39 AM Ignore Evilmaddog Report Abuse more free money
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Aug 5, 2012 7:44:33 AM Ignore gandalfthegrey1 Report Abuse Don't get too excited yet. That was just the committee. Won't come to the floor til September and then has to go to the House.
FocusST2 Champion Author North Carolina Posts:8,283 Points:1,406,625 Joined:Jul 2009	Message Posted: Aug 5, 2012 7:27:46 AM Ignore FocusST2 Report Abuse Is it November yet? 90+ days left.