Law360 (February 17, 2009, 12:00 AM EST) -- On Feb. 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (the "Act"). In the most basic sense, this stimulus bill is designed to be a tool for injecting billions of dollars of federal spending and tax relief into the arteries of an ailing U.S. economy.
One important aspect of the stimulus bill is the role it may play in retooling U.S. energy policy including a gradual transition toward energy sources that help reduce greenhouse gas ("GHG") emissions and reinforce U.S. energy independence and security.
The Act builds on previous energy policy legislation such as...
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