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Energy Security Act
Ocean Thermal Energy Conversion Act
Aftermath...
-Promoted development of ocean thermal energy conversion to reduce dependence on foreign oil
-Gave National Oceanic and Atmospheric Administration authority to license construction, ownership, location, and commercial operations of OTEC facilities
-Facilities not required to obtain leases or pay royalties to federal government, intended to encourage commercial development of the energy source
Geothermal Energy Act
U.S. Synthetic Fuels Corporation Act
-Authorized loans from the Geothermal Resources Development Fund for exploration and determination of economic viability for a geothermal reservoir
-Cancels loan if reservoir is deemed unsuitable for development
-U.S. government-funded corporation to create financial bridge for development and construction of commercial synthetic fuel manufacturing plants that would provide alternatives to imported fossil fuels
-Critics point to its failure to achieve its goals as a reason to prevent government from interfering with the free market
Energy Security Act
Energy Security Act
by Remy Cashman
-Established a corporation to encourage production of 2 million barrels a day of synthetic fuels by 1992 by extracting oil from shale and tar sands (fracking).
-Provided over $1 billion to help produce biomass energy, such as gasohol
-Offered insured loans to small ethanol plants
HAS IT WORKED?
-Renewable forms of energy have been established but not nearly enough to become independent of fossil fuels or foreign oil
-The ethanol plants that were guaranteed loans produced less than 1 million gallons per year
-Fracking, while being a reliable source of natural gas, has taken a negative toll on the environment (especially water) despite President Carter pushing for research on the negative effects of fossil fuels and acid rain on the environment
-Signed into law by President Jimmy Carter on June 30th, 1980.
-Comprised of six major acts
Solar Energy and Energy Conservation Bank Act
Biomass Energy and Alcohol Fuels Act
-Provided subsidies to homes and to industries to conserve energy and to use renewable supplies of energy
-Provided loan guarantees for for small-scale biomass energy projects
-Established the Office of Alcohol Fuels and Office of Energy from Municipal Waste
Renewable Energy Resources Act
-Established incentives for alternative energy sources, improved education for the public in respect to renewable energy sources, encouraged use of solar energy, established programs for energy self-sufficiency, provided encouragement for the development of hydroelectric power projects