He Died June 5, 2004 in Bel-Air, California
Posted on 07/28/2008 12:47:41 PM PDT by DallasBiff
WASHINGTON (Reuters) - The U.S. Senate is unlikely to pass legislation aimed at reining in excessive energy speculation before lawmakers leave for their month-long August recess, a top Senate Democrat said on Monday.
The legislation sponsored by Democrats to provide the Commodity Futures Trading Commission with greater oversight of energy futures markets stalled Friday when it failed a key procedural vote. Bingaman said Republicans blocked the bill because they were not allowed to add an unlimited number of amendments to the bill.
Democratic and Republican lawmakers seem to be deadlocked on passing energy legislation. Republicans are pushing to lift bans on drilling offshore and in the Arctic National Wildlife Reserve, but the Democratic leadership in Congress opposes such actions.
Instead of opening up restricted areas, Democrats want the oil industry to utilize land already available for drilling. They also support tapping the Strategic Petroleum Reserve.
"If everyone is going to hold out for a particular provision that they think is the silver bullet to solve these problems, then it's unlikely we'll get anything very comprehensive done," he said.
Despite his reservations about lawmakers' ability to reach a consensus on energy legislation, Bingaman said he is hopeful the Senate will be able to pass legislation this week extending renewable energy and energy efficiency tax credits.
The energy tax package was blocked in the Senate in June, but Senator Max Baucus introduced a revised version of the package on Thursday. Bingaman called this modified package the most "constructive, doable" legislation that can be focused on this week. He said wind and energy projects are being held up because these tax credits have not been extended.
(Editing by Christian Wiessner)
(Excerpt) Read more at reuters.com ...
Anyone care to speculate on whether it will be passed AFTER the recess?
;^)
I’m going to speculate after work and fill up some 5 gallon cans . the station by my house is at $3.59.
shhhhhh.don’t tell Congress!
If the GOP was smart they would have Bush call a special session of Congress, to pass drilling. Harry and Nancy would be squealing that they would actually have to pass legislation that helps the American people and not their envirowhacko benefactors.
“If the GOP was smart...”
I say let them fly home and then President Bush call a national press conference and recall them back to Washington to lift the ban on Oil Drilling! Then Bush should call out the list, name by name, of those who oppose drilling! And then mention who are up for election this November!
The GOP would mop the floor with the DEMS if they would just show some politcal courage and backbone. The same goes with the president.
WHAT HAPPENED TO LEADER SHIP?!
He Died June 5, 2004 in Bel-Air, California
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