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Senate unveils energy bill, doubts on passage
(Reuters) - Senate Democrats unveiled a slimmed down bill on Tuesday aimed at reforming offshore drilling, as doubts grew that Congress would be able to pass any substantial energy legislation this year.
The Senate bill, which Democrats were still refining, would require oil companies to cover all oil spill costs by removing the $75 million cap on liability relating to economic losses.
The measure would apply retroactively to the April 20 BP oil well disaster in the Gulf of Mexico, which prompted the legislation.
Other provisions in the legislation would provide rebates for purchasing vehicles that run on alternative fuels and making existing homes more efficient, as well as incentives to promote electric vehicles.
The estimated $15 billion cost of the bill for clean energy initiatives would be paid for, according to Democratic aides, by raising the Oil Spill Liability Trust Fund fee. While a draft of the bill said the fee would rise to 49 cents per barrel of oil, from 8 cents, an aide said that figure was still being reviewed.
In remarks to reporters, Senate Majority Leader Harry Reid said he would bring the legislation to the floor in the coming days. But its fate was uncertain as Reid said he also wanted to pass at least two other bills before a month-long recess set to begin August 6.
Democratic aides would not say whether they will allow amendments to the measure. If not, Republicans might put up procedural roadblocks to quick passage.
Admitting last week they did not have the votes to pass broad climate change legislation, Senate Democrats opted to concentrate their efforts on passing a scaled back bill before the August recess.
"This bill does not address every issue of importance to our nation's energy challenges, and we have to continue to work to find bipartisan agreement on a comprehensive bill to help reduce pollution and deal with the very real threat that global warming poses," Reid said.
U.S. President Barack Obama on Tuesday restated his pledge to work for a bill combating global warming, but few believe there is time to achieve that this year.
(Reuters) - Senate Democrats unveiled a slimmed down bill on Tuesday aimed at reforming offshore drilling, as doubts grew that Congress would be able to pass any substantial energy legislation this year.
The Senate bill, which Democrats were still refining, would require oil companies to cover all oil spill costs by removing the $75 million cap on liability relating to economic losses.
The measure would apply retroactively to the April 20 BP oil well disaster in the Gulf of Mexico, which prompted the legislation.
Other provisions in the legislation would provide rebates for purchasing vehicles that run on alternative fuels and making existing homes more efficient, as well as incentives to promote electric vehicles.
The estimated $15 billion cost of the bill for clean energy initiatives would be paid for, according to Democratic aides, by raising the Oil Spill Liability Trust Fund fee. While a draft of the bill said the fee would rise to 49 cents per barrel of oil, from 8 cents, an aide said that figure was still being reviewed.
In remarks to reporters, Senate Majority Leader Harry Reid said he would bring the legislation to the floor in the coming days. But its fate was uncertain as Reid said he also wanted to pass at least two other bills before a month-long recess set to begin August 6.
Democratic aides would not say whether they will allow amendments to the measure. If not, Republicans might put up procedural roadblocks to quick passage.
Admitting last week they did not have the votes to pass broad climate change legislation, Senate Democrats opted to concentrate their efforts on passing a scaled back bill before the August recess.
"This bill does not address every issue of importance to our nation's energy challenges, and we have to continue to work to find bipartisan agreement on a comprehensive bill to help reduce pollution and deal with the very real threat that global warming poses," Reid said.
U.S. President Barack Obama on Tuesday restated his pledge to work for a bill combating global warming, but few believe there is time to achieve that this year.