The president said ’sexy’

3 comments July 3rd, 2009

Tricked you into reading about the climate bill, which passed the House and faces an uphill battle in the Senate, though Barack Obama is “confident” it will pass.

Here’s the quote, from AP:

“Now, I know light bulbs may not seem sexy, but this simple action holds enormous promise because seven percent of all the energy consumed in America is used to light our homes and our businesses,” Obama said.

Here’s what the bill is all about, from the Wall Street Journal:

The 1,200 page bill — formally known as the “American Clean Energy and Security Act” — will reach into almost every corner of the U.S. economy. By putting a price on emissions of greenhouse gases, such as carbon dioxide, the bill would affect the way electricity is generated, how homes and offices are designed, how foreign trade is conducted and how much Americans pay to drive cars or to heat their homes.

The House climate bill, approved by a 219-212 vote Friday evening, would mandate that 15% of the nation’s electricity come from renewable sources such as wind and solar power by 2020, potentially expanding the market and profit potential for companies in those sectors. Towards that goal, it seeks to boost nascent industries such as wind-generated electricity and solar power. …

The nonpartisan Congressional Budget Office has estimated the bill would have a modest impact on family budgets. The CBO projected an annual economy-wide cost in 2020 of $22 billion, or about $175 per household.