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Saturday, June 23, 2007

Does Energy Bill Reflect Shift In Political Power?

The Senate approved comprehensive energy legislation late Thursday, after adopting a bipartisan compromise that would boost automobile fuel economy standards.

But senators rejected a package of energy tax incentives and abandoned a renewable energy mandate, handing Democrats two high- profile defeats.

The 65-27 vote came after a delay of several hours, as Democrats fought off a last-minute lobbying blitz by the auto industry and tried to round up senators who had already left the building, a leadership aide said.

The bill (HR 6) would mandate the use of 36 billion gallons of ethanol by 2022, create new efficiency standards for appliances and federal buildings and promote new energy technologies.

It also would ban price gouging during federal emergencies and subject the Organization of Petroleum Exporting Countries to U.S. antitrust laws — provisions that have drawn White House veto threats.

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