Solving energy problems

Thursday, Sept. 18, 2008 | 2:06 a.m.

With energy prices still too high, with Americans still too reliant on foreign oil, and with greenhouse gases slowly eroding our environment, we as a nation need to take action. The Republican solution, which has rested primarily on more offshore drilling, has been too narrow in focus and would provide only late, short-term relief.

We need something more forward thinking, something more appropriate to the 21st century. We believe the House took a positive step in that direction Tuesday by passing an energy bill supported mostly by Democrats.

The legislation would lift a 26-year moratorium on new offshore oil and gas drilling in the Pacific and Atlantic oceans but only for sites 50 to 100 miles from shore, with approval from adjacent states, or at least 100 miles offshore with no state approvals necessary.

The forward-thinking aspect of the bill comes in the form of tax credits for the development of solar and wind power, ethanol and other biofuels. Tax credits also would be extended to buyers of hybrid cars, which run on gasoline and electricity. Utility companies would be required to do their part by generating at least 15 percent of their electricity from alternative energy sources. There would also be tax breaks for companies that encourage employees to ride bicycles to work, and low-interest loans for the purchase of energy-efficient homes.

Those of us who have been disgusted with record energy company profits while experiencing pain at the pump will also appreciate the provisions that reverse $18 billion in tax breaks for the largest oil companies while requiring them to pay more royalties for oil from the Gulf of Mexico.

The House bill now goes to the Senate. Assuming Congress sends the energy legislation to President Bush, we hope he drops his threats to veto the bill. We could then go forward with a strategy that should help lower energy prices and reduce our foreign oil consumption while improving the environment.