The Obama administration may be a shot in the arm for Haynesville Shale producers and for The Pickens Plan. Congressman Rahm Emanuel of Illinois worked with Democrat Dan Boren of Oklahoma on a bill to help increase domestic production. Barack Obama introduced a very similar bill in the Senate.
Emanuel, who was a senior advisor to Bill Clinton, has been selected by Obama to serve as his Chief of Staff.
October 14, 2008 press release:
On September 16, 2008, the U.S. House of Representatives passed the Comprehensive American Energy Security & Consumer Protection Act (H.R. 6899) to help increase domestic production, ensure a clean renewable energy future for generations, create new green-collar jobs, and help consumers struggling with high energy costs. Key provisions from U.S. Representatives Rahm Emanuel (D-IL) and Dan Boren’s (D-OK) New Alternative Transportation to Give Americans Solutions (NAT GAS) Act were included in the bill, including tax incentives to build the refueling infrastructure for natural gas vehicles.
On September 22, 2008 Barack Obama proposed a similar bill in the Senate:
Democrat candidate and Illinois Senator, Barack Obama, still found time last week to introduce legislation (S.3506) that would increase the tax credit for individuals that purchase natural gas vehicles and extend the credit through to the end of 2017. The Senator proposes increasing the incremental price eligible for a credit from 50/80 percent to 100 percent for all weight classes of vehicle, and a doubling of the tax credit for fleets that purchase more than 100 NGVs in a year. This last provision is identical to one proposed by Rep. Rahm Emanuel (D-IL) in the Congressman’s NAT GAS Act (HR 6570). In addition, the Senator proposed increasing the amount the EPA can pay for alt fuel school bus from 25 and 50 percent to 50 and 75 percent (depending on the vehicle’s emissions), and reauthorizing the Clean School Bus Program at $110 million per year from 2010 through 2015. The program is currently authorized to be funded at “such sums as are necessary” until 2010.