Energy bill is effective compromise

There is something for everybody in the Golden Plains if you look at the energy bill passed by Congress and ready for President Bush to sign.

No, not everyone is happy with the measure -- like nearly everything coming out of Washington, the 1,724-page document is a compromise. But both the fossil fuel and renewable energy industries can take heart in the new or extended tax incentives that are part of the bill.

Most of the $14.5 billion in tax breaks will help producers and users of oil, natural gas and coal. That's important because of Southwest Nebraska's oil industry, and even to the railroad that hauls tons of coal through the region every day.

But perhaps more exciting is a provision that mandates the annual use of 7.5 billion gallons of ethanol by 2012. Ethanol made from corn is a growth industry in Nebraska, the third largest producing state in the country.

And we are likely to see more wind turbine components -- like those being assembled in North Central Nebraska at the Nebraska Public Power District's new wind farm -- rolling through our area or even being built nearby.

The bill creates a new category of tax credits known as clean renewable energy bonds for an estimated total of $400 million.

Bigger still was a two-year extension of a tax credit worth $2.7 billion to utilities and industries associated with wind power, as well as biomass, geothermal and hydroelectric power.

We may even see results in our own neighborhood. For the first time in 20 years, homeowners who install photovoltaic systems will now be eligible for federal financial assistance. The bill provides federal tax credits worth 30 percent of the cost of residential solar panels, after taking state assistance into account, for a maximum of $2,000.

Other homeowners, who buy energy efficient fans, furnaces and boilers will receive tax credits, as will manufacturers of energy-efficient dishwashers, refrigerators and other appliances.

And, a limited number of buyers of gas-electric hybrid vehicles will receive tax credits. Buying a Prius, for example, should be worth $2,500, according to a Toyota spokeswoman.

Even if you don't buy a new appliance, car or efficient energy device, there's one aspect of the energy bill we guarantee you'll feel.

The bill extends Daylight Saving Time two weeks in each direction, from the second Sunday of March to the first Sunday of November instead of the first Sunday of April to the last Sunday of October.

The clock swap has saved the equivalent of $100,000 barrels of oil a day since the 1970s, according to the sponsor. Not a fan of Daylight Saving Time? We told you everybody wouldn't be happy ...