Democrats unveil energy independence plan; ask Bush for support

Washington (Platts)--17May2006

Democratic US senators Wednesday unveiled a five-point plan for energy
independence and criticized Republicans for failing to do enough to address
the nation's need for home-grown fuels.

Forty-three senators sent a letter to President Bush asking him to urge
Republican lawmakers to take up the plan in this Congress.

"We are not just here spouting rhetoric, we have a specific plan," said
Barbara Boxer, Democrat-California. "The price shock has spurred us to put
together a plan, one that is not pie-in-the-sky, one that is a real plan."

The plan's general goal is to cut US oil imports oil by 40%, or 6 million
b/d, by 2020. To do that, it would: slash tax incentives for fossil fuel
industries; require gas stations to install alternative fuel pumps; attempt to
define and halt price gouging; mandate that 10% of all electricity come from
renewable energy sources such as wind and require that 25% of all cars to be
capable of running on renewable fuels by 2010.

Before the press conference unveiling the plan, Republicans castigated
the Democrat's approach. James Inhofe, Republican-Oklahoma, chairman of the
Senate Environment and Public Works Committee, said the proposal "is nothing
more than their same old empty political rhetoric that does nothing to address
today's high gas prices or our nation's energy needs."

John Podesta, president of the Center for American Progress and former
Clinton Administration chief of staff, told Platts that passage of elements in
the plan will be driven by the public's outrage over gasoline prices. "Either
you'll see action in 2006, or you will see an election that will force action
in 2007," he said.

---Daniel Whitten, daniel_whitten@platts.com

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