White House gives mixed support to Senate energy bill
WASHINGTON, Jun 14, 2005 -- AFX-Europe
The Bush Administration on Tuesday said a proposed Senate energy bill would "significantly" benefit consumers by increasing energy supplies but criticized the cost of the bill. The administration also highlighted parts of the legislation it opposes, including federal loan guarantees for a range of energy technologies, a requirement that the president take steps to cut U.S. petroleum demand by one million barrels a day, and $1.25 billion earmarked for a federal nuclear reactor. The White House also called further subsidies for oil and gas exploration "unwarranted" given current energy prices and stated it opposes proposals to require 10% of the electricity in the U.S. come from renewable sources of energy, raise vehicle fuel economy standards, and mandate additional pollution cuts to address climate change.
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