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Majority Leader Harry Reid (D-NV) finally rolled out the oil spill/energy legislation today. The ‘‘Clean Energy Jobs
and Oil Company Accountability Act of 2010
’’ includes four sections: 1) BP accountability, 2) Natural Gas Vehicle Act, 3) Home Star and Land/Water Conservation) and 4) increases the $2.7 billion liability cap of the Oil Spill Liability Trust Fund to $5 billion and increases the amount that oil companies are required to pay into the Oil Spill Liability Trust Fund to 49 cents per barrel.

The House companion spill legislation features a modified version of three bills, the Natural Resources Committee bill (H.R. 3534), an Energy and Commerce Committee bill (H.R. 5626) and a Transportation and Infrastructure Committee bill (H.R. 5629). The legislation includes improved federal oversight of offshore drilling, new safety standards for drilling equipment and well design, increased liability limits for offshore drilling companies and potential for companies with lax safety records from obtaining federal leases, among other provisions.

The House Ways and Means Committee is not marking up its full green jobs legislation before the August recess. There is a heavy emphasis on Sec. 48C clean energy manufacturing tax credits and a two-year extension and codification of the Sec. 1603 grant program for renewable energy policy. Tax credits for natural gas and hybrid heavy vehicles are also included. The Domestic Manufacturing and Energy Jobs Act of 2010. (Frank Maisano)