FACTBOX: Failed energy bills heading into Congress' recess

Fri Aug 1, 2008 4:19pm EDT
 
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(Reuters) - The Congress adjourned for its five-week recess without passing legislation that tackles America's energy problems.

Here are some energy bills voted down in the Senate and House of Representatives in the two weeks before lawmakers adjourned:

REIN IN MARKET SPECULATORS. Senate Democrats were blocked from getting a final vote on legislation to curb excessive speculation in energy markets. The bill would have imposed tough position limits on speculators, restricting the number of oil futures contracts they can control. A similar House bill was voted on, but failed. It sought to rein in speculators trading energy and agricultural commodities.

LOW INCOME HOME ENERGY ASSISTANCE PROGRAM. The Senate bill would have doubled to $5.1 billion a federal program that helps senior citizens and poor families pay their summer cooling and winter heating bills.

TAPPING THE STRATEGIC PETROLEUM RESERVE. The House bill would have sold 70 million barrels of oil from the U.S. emergency crude stockpile, which supporters said would have put more supplies on the market and lowered prices.

ENERGY TAX CREDITS. The House bill would have extended renewable tax credits for producing electricity through wind power and installing solar energy equipment.

DRILL NOW OR LOSE IT. This House bill would have required oil companies to diligently develop their existing federal leases or return them to the government and require yearly leases in the National Petroleum Reserve in Alaska.

(Washington energy desk)

 

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