The People's Energy Bill
Preamble
Purpose: Provide essential national energy security via adequate production of undepletable energy by leveling the playing field between undepletable energy and depletable energy including incentives for clean air and water, reduction of greenhouse gas content in the atmosphere, and to overcome inflation and conflict due to Peak Oil.
Part I---Undepletable Energy Policy
Recognize hydrogen as a preferred replacement fuel for gasoline and diesel oil used in internal combustion piston, rotary, and turbine engines because such engines can be rapidly and inexpensively converted to operation on hydrogen and/or mixtures of hydrogen and other fuels to better serve giant transportation and utility markets with fuel sourced by Undepletable Energy Resources including wind, direct solar, falling water, waves, and biomass wastes.
Declare Undepletable Energy Resources from which renewable electricity and hydrogen can be made as the Targeted Energy Resources and apply all benefits of this act to advancement of technology, production of equipment for harnessing such resources and deployment of projects utilizing these resources.
Provide planning, design and construction of a highly efficient hydrogen production, transportation, storage and distribution infrastructure and rapid development and deployment of hy-drogen technologies and equipment to safely produce, store, transport, and utilize hydrogen within existing farming, indus-trial, marine and transportation equipment.
Part II---Level the Playing Field
- Make all tax credits, allowances, guarantees, purchase guarantees, bonding and all other tax and financial benefits provided to Depletable Fossil and Radioactive Energy Sources, fuels, and equipment equally available and applicable to equipment, projects, research, development, and com-mercialization of Undepletable Energy Resources, fuels, projects and equipment.
- Make all policy and regulatory advantages available to Depletable Fossil and Radioactive Energy Sources, fuels, equipment and related activities equally available to Un-depletable Energy Reources, fuels, equipment and related activities.
- Make all tax, finance and policy advantages available to Depletable Fossil and Radioactive Energy Sources, fuels, equipment, projects and related activities, under current law available to Undepletable Energy Sources, fuels, equipment, projects and related activities including, but not limited to, such advantages as they apply to exploration, drilling, mining, equipment, project development and deployment, project financing, depletion, purchase guarantees, subsidized bonding loans and waste storage.
- Replace direct energy and energy conservation related grants to industry and institutions with generous tax credits designed to advance undepletable energy sources, fuels, equipment, projects, project financing, research, development and related activities.
- Provide for tax and other financial benefits to independent scientists, engineers, innovators, and entrepreneurs pari pusu with established corporations, industries and institutions.
- Waive acquisition and patent maintenance fees and other costs related to new technology regarding energy con-servation and Undepletable Energy Resources wherein such new technologies are sourced by independent scientists, engineers, innovators, entreprenuers and inventors who are committed to ongoing research, development, and commer-cialization activities.
- Provide maximum trade secret protection to independent scientists, engineers, innovators, and entrepreneurs in all activities related to governments and disclosures to govern-ments or quasi government organizations.
- Provide priority consideration, for processing, and ap-proval of all regulations, rules, codes applications and other regulatory matters related to research, development, production, transportation, use, deployment and commercialization of projects, equipment and siting concerning Undepletable Energy Resources.
Part III---National Defense and Energy Security Infrastructure
- Authorize planning, design and construction of a nationwide hydrogen collection, storage, transportation and distribution system along, adjacent to and under the Interstate Highway system to economically and conveniently refuel vehicles. Project to be referred to as the National Defense Hydrogen Hyway Development Program.
- Authorize use of transportation fuel tax revenues to pay for all aspects of the Hydrogen Hyway Development Program.
- Provide national plan for utilization of depleted natural gas and oil formations and other appropriate geological formations for utilization as high volume renewable hydrogen and methane storage reservoirs.
- Establish market incentives and provisions for delivery of Undepletable Hydrogen and methane through existing natural gas pipelines.
- 5. Require projects and programs stated herein to begin upon passage of this act
- Provide all benefits of this act to rapid and practical develop-ment and deployment of technology and equipment to trans-port store, distribute and consume Undepletable Hydrogen via existing infrastructure.
Part IV—Peace, Prosperity and National Security Trust
Purpose: to adequately fund replacement of domestic oil in relation to its depletion.
- Establishes the Peace, Prosperity and National Security Trust Fund (The Trust Fund) with spending restricted to implementing the programs and the intent of the Peoples Energy Act. Said trust fund to include safeguards and protections against use of trust fund proceeds for any purpose other than the purposes set out in the Act; and said safeguards and protections to be equivalent to those that protect the spending priorities of the Transportation Trust Funds funded by motor fuel taxes.
- Fund the Trust Fund by Imposing a Windfall Profits tax on domestic crude oil sales consummated at a price that exceeds $30 per barrel. Tax amount to be equal to 75% of revenues over the $30 selling price. For example, if a barrel of crude sells for $60; than the first $30 is not affected by this provision but the 75% tax applies to the remaining $30 in revenues.
Fund
Purpose: to adequately fund replacement of domestic oil in relation to its depletion.
- Establishes the Peace, Prosperity and National Security Trust Fund(The Trust Fund) with spending restricted to implementing the programs and the intent of the Peoples' Energy Act. Said trust fund to include safeguards and protections against use of trust fund proceeds for any purpose other than the purposes set out in the Act; and said safeguards and protections to be equivalent to those that protect the spending priorities of the Transportation Trust Funds funded by motor fuel taxes. Fund the Trust Fund by Imposing a Windfall Profits tax on domestic crude oil sales consummated at a price that exceeds $30 per barrel. Tax amount to be equal to 75% of revenues over the $30 selling price. For example, if a barrel of crude sells for $60; than the first $30 is not affected by this provision but the 75% tax applies to the remaining $30 in revenues.