President Signs Landmark Energy Bill
President Bush signed a sweeping energy bill here Saturday that he hailed as a bipartisan effort to lead the United States into a new era.
“It’s not a Republican accomplishment or a Democratic accomplishment,” he said. “It’s an accomplishment for all of America.”
The National Energy Policy Act of 1992, which focuses on conservation and energy sources other than fossil fuels, does little to spur increased domestic oil production. But it is expected to affect many energy programs, from who can produce electricity to the way nuclear power plants are licensed.
The bill provides tax incentives for renewable energy sources and for some conservation measures, as well as a tax break for struggling independent oil and gas producers.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
