The U.S.'s energy laws need a major update. The EPMA is a landmark event because it represents the first energy legislation in recent history that the Senate has passed with bipartisan support. The EPMA could create a significant amount of economic growth and help breathe life into many projects here in the U.S.
The North American Energy Security and Infrastructure Act (EPMA) will drag the U.S.'s energy policies into the modern era, grow the economy through exports, and lower our carbon footprint by supporting renewable energy.
The last time Congress passed a major energy bill, they wanted to increase national security by avoiding energy scarcity. Since that time our energy landscape has changed. The U.S. is now a leading producer of oil and gas. The exportation of these fuels will likely provide a bullish push on the current low prices which many feel as a drag on the economy.
While critics say the only reason the bill was passed was to avoid issues like climate change, and new oil drilling, the EPMA really aims to speed up the adoption of renewable energy and energy efficiency measures. The EPMA would pave the way for the US to export more natural gas and oil and help grow the economy.
Green energy is cheaper than traditional fuels than in some areas of the U.S., but Independent System Operators (ISO), the organizations that operate the Nation’s aging grid, don't always have the capacity to store power from these sources effectively. The EPMA would push for ISOs to improve scheduling and storage of renewable energy resources, which is imperative as we close down more and more coal-fired power plants.