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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (66398)	5/17/2000 3:42:00 PM
From: Think4Yourself	Respond to of 95453

Strong Industry Support for Energy Bill WASHINGTON, May 17 (energy24.com) - It has emerged that a controversial new US energy bill, introduced before the Senate this week, contains provision for substantial tax breaks for the oil industry. The republican sponsors of the bill have put themselves on a collision course with the Clinton administration by also proposing the extension of drilling rights in Alaska. The National Energy Security Act, proposed by Republican senator Trent Lott, seeks to significantly lower US dependency on foreign oil by 2010. The White House has already made clear its opposition to any drilling in the Arctic region, and environmental groups have also attacked the proposal. But one major US oil company, who did not wish to be named, told energy24.com it would expect heavy lobbying on Capitol Hill to ensure the bill passes through both houses intact. 'Anything that helps the US oil industry and secures the long term energy needs of the country will find strong support in the country,' a spokesman said.