Washington (Platts)--25Jul2008

A vote designed to bring to a close debate on a Democrat-sponsored bill
to reduce energy market speculation which sponsors said would bring energy
prices down for consumers failed in the US Senate Friday amid an anticipated
Republican filibuster.

The move to close debate on Majority Leader Harry Reid's Stop Excessive
Energy Speculation Act failed with a vote of 50 in favor and 43 against. It
would have needed 60 votes for successful passage.

Following the vote, the Nevada Democrat filed for a motion to reconsider.

Reid's bill, which garnered considerable support among Democrats, would
have closed a number of purported loopholes in energy regulation. While
Democrats considered the measure a good "first step" in bringing down prices
for consumers, Republican opponents wanted to attach several drilling-related
amendments to the bill in hopes of addressing broader energy concerns.

--Jessica Marron, jessica_marron@platts.com