Number: RL33302
Title: Energy Policy Act of 2005: Summary and Analysis of Enacted Provisions
Authors: Mark Holt and Carol Glover, Resources, Science, and Industry Division 
Abstract: The Energy Policy Act of 2005 (P.L. 109-58), signed by President Bush August 8, 2005, was the first omnibus energy legislation enacted in more than a decade. Major provisions include tax incentives for domestic energy production and energy efficiency, a mandate to double the nation's use of biofuels, repeal of restrictions on interstate utility holding companies, faster procedures for energy production on federal lands, and authorization of numerous federal energy research and development programs. Spurred by rising energy prices and growing dependence on foreign oil, the new energy law was shaped by competing concerns about energy security, environmental quality, and economic growth. For example, efforts to enhance energy security by allowing oil and gas production in the Arctic National Wildlife Refuge (ANWR) were blocked by environmental concerns. Conversely, efforts to address environmental quality by restricting carbon dioxide and other greenhouse gases were stymied largely because of their potential effect on the U.S. economy, as were proposals to increase automobile fuel economy standards. Soon after the Energy Policy Act was enacted, disruption from Hurricanes Katrina and Rita contributed to a surge in U.S. gasoline prices, prompting widespread criticism that the new law did not adequately address the nation's gasoline supply. As with most energy legislation since the 1970s, the new energy law has few provisions aimed at near-term problems in the energy market, being focused primarily on the mid- to long term.
Pages: 143
Date: March 8, 2006