Author Topic: Senate passes new Energy Bill (Read 328 times)

Toad · « **on:** July 29, 2005, 02:07:52 PM »

Clearly, this bill throws a huge bone to the overfed energy companies.

Some will say this is the "big business" Republicans paying off contributors.

Hmmmmmm... is that completely true?

The House adopted the bill in a lopsided vote of 275-156, drawing support from 75 Democrats.

The Senate voted to approve the 1,700-page Energy Policy Act of 2005 by a margin of 74-26; there are 44 Democrats in the Senate.

Not all Senate Republicans voted for it either:

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A handful of coastal-state Republicans and Democrats in both the House and the Senate rejected the bill over a measure that will permit the federal government to carry out an offshore survey of oil and natural-gas resources in the outer continental shelf -- an area largely protected from drilling by a federal moratorium.

Nash · « **Reply #1 on:** July 29, 2005, 02:29:02 PM »

Delay at it again.

1.5 billion.

Is the oil industry, Haliburton and Sugarland Texas (Tom's district) really that hurtin'? I don't think so.

Of course this is business as usual blah blah blah and, well hell, you often just take a Bic lighter to your cash for giggles anyways so what's the big deal?

Crooks and liars.

Toad · « **Reply #2 on:** July 29, 2005, 02:38:16 PM »

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Originally posted by Nash
[BCrooks and liars. [/B]

From both parties.

It would have failed in the House if 60 of the 75 Democrats that voted for it had opposed it. But over a third of the total Dems in the House voted FOR it.

Looks like over half the Senate Democrats voted for it as well.

Just sayin' this ain't a pure "Republican" thing.

Nash · « **Reply #3 on:** July 29, 2005, 02:55:51 PM »

business as usual... nothing to see here.

You created the attack and defended against it all in the same post. Seems kinda like something is telling you that it's sketchy, before you came here to tell us that it's not.

Just business as usual.

What's noteworthy if nothing is?

Toad · « **Reply #4 on:** July 29, 2005, 03:03:31 PM »

If you'd been watching, you'd have seen an earlier thread/post decrying this giveaway.

Nash · « **Reply #5 on:** July 29, 2005, 03:05:26 PM »

Now I'm really confused. Should I have ignored this post or something?

No matter - I'm duckin' out of work early to stalk girls in summer dresses.

Gunslinger · « **Reply #6 on:** July 29, 2005, 03:08:56 PM »

I saw this and it REALLY pissed me off. When companys like Exon/mobile are posting $2 billion PROFIT in just this QUATER and i'm paying $2.50/gal at the pump and THEY ARE GETTING BREAKS??????????

Charon · « **Reply #7 on:** July 29, 2005, 03:09:07 PM »

There's plenty in it for the Democrats. My observation is that big oil is a Republican thing (generally), big agri business a Democrat thing (generally) and in areas where oil or farms exist it is bipartisan.

There is a lot the oil industry (mainly "big oil") doesn't like about the bill. But, there is a lot they do like. The pork has been expanded so that the positives outweigh the negatives for both sides. Not much to celebrate for the average tax payer/motorist, IMO. The "botique fuels" provisions may have some impact down the road and some of the refinery "incentives" if they result in any increase in capacity. A few crumbs for fuel marketers and retailers, but not much to really celebrate about below the refinery level.

In a nutshell - oil pork for a 7.5 billion gallon ethanol mandate. Ethanol can be a PITA for the oil industry, but... a lot of sugar to go with that lemon.

I've been following this pretty closely since it first came up, but I'm mainly familiar with the petroleum side of things and don't know much about the utility side.

Charon

Raider179 · « **Reply #8 on:** July 29, 2005, 03:45:39 PM »

This could be the beginning of the end. Just think Republicans and Democrats working together to screw the American People over.

Charon · « **Reply #9 on:** July 29, 2005, 03:55:54 PM »

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This could be the beginning of the end. Just think Republicans and Democrats working together to screw the American People over.

I kinda think that's the way it's typically worked, and imagine it was even more pronounced in the 1970s and 1980s.

Charon

Raider179 · « **Reply #10 on:** July 29, 2005, 03:59:59 PM »

Quote

Originally posted by Charon
I kinda think that's the way it's typically worked, and imagine it was even more pronounced in the 1970s and 1980s.

Charon

LoL I always thought they were too motivated by their self interests to ever think of working together. Guess I was wrong.

Thrawn · « **Reply #11 on:** July 29, 2005, 05:03:10 PM »

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Originally posted by Toad
But over a third of the total Dems in the House voted FOR it.

Heh, one third of the total Dems are paying back pork to the Repubs for pork already received.

ygsmilo · « **Reply #12 on:** July 29, 2005, 05:24:21 PM »

All this energy bill does is to make sure we pump more oil at a faster rate. Don't get me wrong I am not one of the "we will be out of oil in 20 year crowd" but all this does is make sure that we don't spend enough money on R & D.

I just keep buying XLE ETF's and when I buy gas figure I am adding to my return on investment.

Charon · « **Reply #13 on:** July 29, 2005, 05:38:12 PM »

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LoL I always thought they were too motivated by their self interests to ever think of working together. Guess I was wrong.

That's been a fairly recent development, and mainly on big "social" type issues, IMO. One hand washes the other is the foundation of the two party system.

They worked together pretty well on that craptacular drug bill, and many from both parties were "apologizing" for it almost minutes later. Still made the vote though; still get the checks.

Charon