House passes renewable energy bill

The House approved an energy bill Saturday that would steer the nation toward cleaner fuels. Declaring a new direction in energy policy, the House on Saturday approved $16 billion in taxes on oil companies, while providing billions of dollars in tax breaks and incentives for renewable energy and conservation efforts. Under the Democratic plan, publicly traded power companies must get 15 percent of their supplies from wind, solar and other renewable sources by 2020. The measure provides $3.5 billion to install E-85 pumps and expand production of cellulosic ethanol.

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