Energy Policy and Your Business: Prepare Now for Change
By Jim Poad Director of Client Solutions, Advantage IQ | July 16, 2010
National climate and energy policy has been batted around for the last several years. In 2009, Obama introduced a plan to cap carbon emissions and spend $15 billion on R&D in the clean energy space, but it was met with heated resistance.
In early 2010 legislators went back to the drawing board, and created a new draft of an energy bill. Very little has been disclosed about the contents of the bill. However, we do know that it aims for a 17 percent reduction of 2005's levels of climate-altering gases by 2020. Further details of the bill had not been released when this article went to publication.
So why should hoteliers prepare themselves for effects of climate legislation sight unseen? Even without knowing the bills exact stipulations, we can be sure of two things.
Policy change will happen. Whether it's one year from now or 10, the U.S. will implement some sort of energy policy to keep pace with and set standards for global climate policy.
When it changes, energy will cost more. You can't reduce emissions by 17 percent without targeting the country's biggest contributors: the energy industry. And emissions-reducing innovation costs money, whether it's achieved by finding new energy sources or giving the old ones a facelift. Those costs will be passed through to businesses.