US Senate to vote on Energy Bill; leadership seeks 60 votes to overcome Republican filibuster in support of oil companies; Renewable Power standard appears dead

In Washington, the US Senate is expected to vote on the Energy Bill today, with last minute negotiations underway to increase support for the bill above the 60 votes needed to overcome a Republican filibuster against the bill. Items under final negotiation are in the tax package used to fund incentives for consumers for energy-efficiency products.

The Renewable Power Standard, which would require utilities to generate 15 percent of their power from renewable resources, appears to be dead.

Several Republicans are expected to vote for the bill, but up to two Democrats are expected to oppose it. President Bush has promised to veto the bill, which would go back to the House for consideration of the Senate’s amendments before the President has to sign or veto.

The bill raises Corporate Averaged Fuel Economy (CAFE) standards 40 percent to 35 miles per gallon by 2020, and a mandate to increase ethanol blending to 36 billion gallons by 2022, and a Renewable Power Standard, a mandate for utilities to derive 15 percent of their power from renewable sources by 2020.

The bill also contains $21.5 billion in consumer tax incentives to install solar panels, wind turbines, and buy hybrid gas-electric cars. The tax incentives are offset by the cancellation of $13 billion in oil company tax subsidies, and it is this provision which the White House especially objects to.

Meanwhile, Senate Agricultural Committee Chairman Tom Harkin plans to attach the 36 billion gallon ethanol mandate to the Farm Bill, which will move to the Senate floor for a vote next week.

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