I'm With The Government...Here To Help (GAG)

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What will $16 billion buy? A Senate energy plan
Bill passes 85-12, but it differs sharply from House version
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Updated: 12:27 p.m. ET June 28, 2005
WASHINGTON - For the third time in four years, the Senate on Tuesday approved an energy bill embraced by most Republicans and Democrats. But its chance of becoming law depends on hard bargaining with House GOP leaders, who back measures more favorable to industry.

The bill had overwhelming support among senators, passing 85-12, and it includes a proposed $18 billion in energy tax breaks, an expansion of ethanol use and measures aimed at increasing natural gas imports to meet growing demand.

But lawmakers acknowledged that the measure would do little, if anything, in the short run to stem the soaring cost of energy, including oil that this week has eclipsed $60 a barrel and gasoline that last week averaged $2.22 a gallon at the pump, according to the Energy Department.


The bill also deliberately skirts some of the most contentious energy issues facing Congress.

It says nothing about drilling in the Arctic National Wildlife Refuge in Alaska, although that's a top priority of the Bush administration and House GOP leaders.

Lawsuit waiver an issue
And unlike the House bill, it is silent on giving aid to larger oil companies and refiners who want protection against environmental lawsuits because one of their products, the gasoline additive MTBE, has contaminated drinking water in hundreds of communities. House leaders have insisted an MTBE waiver be part of energy legislation.

More environmentally friendly than the energy bill passed by the House in April, the Senate measure would also funnel 40 percent of some $18 billion in tax breaks over 10 years to boost renewable energy sources such as wind, solar and biomass. The Senate bill also would try to reduce energy consumption through tax incentives for efficient appliances and homes and for gas-electric hybrid cars.

Other fights are expected with the House over how much corn-based ethanol refiners would have to use ?- 8 million gallons a year in the Senate version vs. 5 million under the House bill ?- and whether utilities should have to produce at least 10 percent of their electricity from wind, solar or other renewable energy sources.

President Bush praised the Senate for passing the measure, saying it would help U.S. economic growth by addressing the causes of high energy prices and the nation's dependence on foreign supplies of energy. "I urge the House and Senate to resolve their differences quickly and get a good bill to my desk before the August recess," he said.

makes me sick..but not surprised.....good on the Senate for ignoring this