Energy Literacy Advocates Newsroom

The Associated Press - President Barack Obama's proposed budget revealed the administration's initial approaches to energy policy.

Funding increases include more money to NASA for space-based monitoring of greenhouse gases, expanded support at the Energy Department for finding ways to economically capture carbon emissions from coal-burning power plants, and more money for the Interior Department to mitigate the impact of climate change on public lands and wildlife

To help with funding, the budge proposes imposing a new excise tax and fees on companies that take oil and natural gas from federal waters and reimposes a tax — again largely targeting the oil industry — to pay for cleaning up Superfund sites.

To be noted, however, $15 billion of the funding stream necessary for Obama's initiatives relies on carbon pollution permits, which have yet to be proposed by Congress.

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Labels: climate change, gas tax, global warming, u.s. energy policy