New US bill: $16bn cut from Big Oil, aimed at renewables

The US House of Representatives voted over the weekend (astonishing in itself) in favour of a new bill that chops some oil funding and diverts it into various renewable energies, as Reuters reports (or see the Bill’s full detail here):

The bill, the New Direction for Energy Independence, National Security, and Consumer Protection Act and the related tax title would spur a massive redistribution of federal incentives to wind, solar, geothermal and away from producing energy from oil, natural gas and coal.

Of course, this doesn’t mean it’s going to happen. Unsurprisingly, the Republicans are up in arms, calling it “green pork” (which just sounds nasty really), and the White House may veto it anyway.