« Experts Explore Ethanol Viability | Home | Industry Report Shows Ethanol Margins Are Steadily Increasing »
Energy Bill Is Filled With Surprising Details
By Mr Ethanol | December 17, 2007
The Daily Advertiser:
On Thursday, the United States Senate passed the 2007 energy bill, H.R. 6 by a vote of 86-8. The energy bill will most probably be on the floor of the House this week and is expected to pass and be signed by President Bush.
Like most things that go on in our U.S. Congress, 99.9% of us folks back home have not a clue what’s in the 1,000 page H.R. 6 energy bill. As they say, “the devil is in the details.”
In time the press will enlighten us with some of the significant parts of the bill, and we will move on with our lives. You got it; I am going to share with you some tidbits of the bill.
One part of the bill that was struck from the final version before passage just blew me away. The Senate Finance Committee, chaired by Senator Max Baucus, D-Montana, unveiled a plan to tax the largest integrated oil companies, Exxon Mobil Corp., Chevron Corp., ConocoPhillips, BP and Shell Oil Co. for $9.4 billion over 10 years.
The tax revenues were to be used to fund a series of tax incentives promoting the development of alternative fuels. The members of the Finance Committee did not know how the alternative fuels tax incentives would be paid for and decided to tax the large integrated oil companies to fund the program. Full aticle.
Topics: Energy, Legislative, News |
Related Posts
- Better Chances For Movement On Energy Bill This Week
- Energy Bill Unlikely To Be Of Much Help
- Energy Bill Hikes Vehicle Mileage
- Bad Gas Costs Driver $268
- Harkin Bill Gives Incentive For Alternative Ethanol Sources
- Bush Signs Broad Energy Bill
- Biodiesel Mandate Bill Introduced
- Hoyer Backs Smaller Tax Credit For Ethanol
- Ethanol, Wind Energy Stand To Benefit From Energy Bill
- US Energy Bill: Subsidizing China
New Way Of Making Easy Money Online