Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (27424)	11/25/2003 8:44:42 AM
From: John Carragher	Respond to of 206181

Energy Bill Collapses, May Be Revived in 2004 Tue November 25, 2003 04:01 AM ET (Page 1 of 2) By Julie Vorman WASHINGTON (Reuters) - Despite pressure from the White House, Republican leaders were unwilling to drop lawsuit protection for oil companies from a $31 billion energy bill and it faces an even tougher fight amid next year's political campaigning, lobbyists and legislative aides said. The bill, which included lavish tax breaks, grants and funding for virtually every kind of energy production, was declared dead for this year by Senate Republicans. Intensive lobbying by the Bush administration on Monday failed to persuade House leaders to delete a provision that would shield oil companies from lawsuits for water contamination by MTBE, a gasoline additive. More than 1,500 U.S. cities say they face costly clean ups. Senate Democrats and moderate Republicans narrowly filibustered, or blocked, the energy bill on Friday because they opposed the MTBE lawsuit protection. They also criticized the more than $1 billion in funds earmarked to help MTBE makers switch to other businesses before the additive is banned. AN EXHAUSTED SENATE The collapse of the legislation came as an exhausted Senate hurried to finish work on Tuesday so it could adjourn for the Thanksgiving holiday. An aide to Senate Republican Leader Bill Frist said the bill may be revived in early 2004. "Although Sen. Frist remains committed to the legislation, we will be unable to bring it up again this year," said an aide to the senator. "We will work over the (congressional) recess to bring all sides to an agreement" before lawmakers return in January. But prospects for some kind of energy bill in 2004 are cloudy because presidential and congressional campaigning will be in full swing, lobbyists said. Both parties are less likely to be willing to compromise in an election year, they said. reuters.com.