Energy Independence Authority Act of 1975. Hearings before the Committee on Banking, Housing and Urban Affairs, United States Senate, Ninety-Fourth Congress, Second Session on S. 2532

Book · Thu Jan 01 04:00:00 EST 1976

OSTI ID:7231120

Four days of hearings were held on S. 2532, which proposes to reduce U.S. dependence on energy imports by creating an independent government corporation charged with investing $100 billion in energy projects over a seven-year period. Discussion at the hearings covered the impact of regulation of energy source development and the probable effects of public investment on meeting the goal of energy independence in terms of environmental and safety constraints, leasing options, rate structures, energy conservation, and facility construction. Former Vice President Nelson Rockefeller, who designed the proposal, testified that loans would be made only for those projects contributing to energy independence and unable to receive private capital. The energy industry would be required to make an additional $600--$800 billion investment. Mr. Zarb stressed the long lead time to commercialization of synthetic fuels and increased production of coal, oil, and nuclear energy in stating the need to begin immediate action. Barry Commoner argued that the proposal will divert funds to less-efficient technologies and that the bill's emphasis on development of near-ready technologies will not necessarily lead to improvements because of damage to the environment. Walt W. Rostow argued in favor of price deregulation to release more private investment capital for all projects except those too large for the private sector. These, he felt, are more appropriately handled by the proposed Authority. (DCK)

• OSTI ID: 7231120
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
CAPITAL
CARBONACEOUS MATERIALS
COAL
COMMERCIALIZATION
CONSTRUCTION
ECONOMICS
ENERGY
ENERGY CONSERVATION
ENERGY DEMAND
ENERGY POLICY
ENERGY SOURCES
FINANCIAL INCENTIVES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GOVERNMENT POLICIES
HEARINGS
INVESTMENT
LEGISLATION
NATURAL GAS
NUCLEAR ENERGY
PETROLEUM
PROJECT INDEPENDENCE
REGULATIONS
SOCIO-ECONOMIC FACTORS
SYNTHETIC FUELS