Thursday, July 22, 2010

US Senate panel backs more electric cars, solar TNR.v, TSLA, CZX.v, RM.v, CLQ.v, WLC.v, LIT.v, LAT.v, HAO.v, HEV, AONE, NSANY, BYDDY, GM, F, RTP, FCX,

This is what we need to address dire consequences of Peak Oil. There is still time and technology available to us to electrify our transportation system. Electric cars are coming on the roads and Asian conglomerates are busy building Supply Chain for Electric Cars starting with lithium deposits. Will US Corp. finally awaken to this geopolitical problem?

Shai Agassi presenting at the EMEA Enterprise ...Image via Wikipedia

"Main message for us from Shai Agassi this time is that "China gets it". "Ones China does it - it is bound to happen everywhere" Now we can put our Lithium M&A fever into another prospective. Talison taking out Salares Lithium is a clever entry point by Chinese business backing Talison into the Lithium Brine business without making two many waves before they can secure new deals in the sector. Our idea about Second Leg of this Bull market in Canadian Lithium developers receives more confirmation on fundamentals and now we need to see the action in the market place. With all junior companies at the low base valuation from last year run we can have rally in the making already. Listen to Shai Agassi interview on video below, he has a good listeners already among Better Place's backers - HSBC, Lazard Asset Management and Morgan Stanley:"

* Bill wants half of U.S. vehicles electrified by 2030
* Separate bill seeks 10 million solar roofs by 2021

By Tom Doggett

WASHINGTON, July 21 (Reuters) - Millions of electric-powered vehicles that would slash America's dependence on foreign oil and cut its carbon emissions would be put on the road under legislation approved by a Senate committee on Wednesday.

Launch of Chevrolet Volt to begin in Californi...Image by gmeurope via Flickr

The legislation, passed 19-4 in favor, was one of several bills cleared by the Senate Energy and Natural Resources Committee that might be folded into a broader energy and climate bill Democrats are struggling to bring to the Senate floor.

A new bill that addresses climate change and renewable energy is a key priority for the Obama administration but time is running short on the congressional calendar with a scheduled August recess and congressional elections looming in November.

Senator Jeff Bingaman, who chairs the energy panel, said he was not sure if Senate Majority Leader Harry Reid would unveil his encompassing energy and climate legislation next week. The bill would be in trouble if the Senate does not pass it before the August break, according to Bingaman.

"It will be difficult to get a final bill to the president for signature," Bingaman told reporters. "The earlier that the full Senate would act the better position we'll be to actually get a bill to the president."

Congress is scheduled to work through the first or second of week of August, and then recess until after Labor Day in early September.

The bill approved by the committee would pour nearly $3.9 billion over 10 years into selected communities to build infrastructure to charge electric cars, conduct research and provide incentives for consumers to buy plug-in vehicles.
The goal is to put the United States on a path to electrify half the country's cars and trucks by 2030, which would cut U.S. demand for oil by about one-third.

"Passing this legislation will strengthen our national security and improve the air we breathe, while relying on our abundant and diverse electricity supply to fuel our cars," said Senator Byron Dorgan, the bill's chief sponsor.

Reid said on Tuesday he was still grappling for consensus among Democrats to forge a new climate and energy bill.

Reid's bill could include a wide array of elements that would affect the energy sector, including reforms to offshore drilling in the wake of the BP (BP.L: Quote) oil spill. [ID:nN19197263]

Senate Democrats will hold a caucus meeting on Thursday to discuss the legislation.

The committee also cleared a bill to provide billions of dollars in rebates, loans and other incentives for homeowners and businesses to purchase solar energy systems.

The legislation seeks to install solar energy systems on at least 10 million properties by the end of 2021.

To help reach that goal, the bill provides $250 million in financial incentives a year over the next decade.

The vote for the solar bill was 13-10, with all Republicans voting against it. Because there was no Republican support, Reid may be more likely not to include the solar measure in his energy and climate legislation.

(Reporting by Tom Doggett)"
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