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Business Brokerage With high natural gas prices looming, Senate Republicans want to push through an energy bill quickly but face a series of hurdles, including disputes over global warming and gas mileage requirements.

year politics will jam much legislation, pressed to reject the four because they are so popular, said House Ways and Means Chairman William Thomas ( Calif.). "These are the kind of bills that can break the logjam in the Senate, " asserted Thomas. The House has patiently awaited action by the Senate on a variety of bills including foreign sales corporation repeal and energy policy, and the tax measures may serve as vehicles to address the unfinished legislation.

Forex Broker The bill's floor leader, Sen. Pete Domenici, R-N.M., pleaded with senators Friday to step up the pace. He said he saw no reason why the Senate shouldn't be able to resolve six or seven remaining issues before the scheduled recess a week from now.

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Online Brokerage Yet for most of Friday, the Senate shifted to discussions other than energy, even though the energy bill technically was the order of business. Domenici waited for senators to produce several additional amendments dealing with automobile fuel economy, but they never came.

The bill faces an uncertain future in the Senate. The Senate will not consider small tax extension bills on an individual basis, according to senior tax writers on the Senate Finance Committee. Instead, it would most likely try bundle those bills, such as the AMT extension, to reconciliation instructions for the Fiscal Year 2005 federal budget.

Real Estate Broker Earlier, Majority Leader Bill Frist said ``we simply can't afford'' to delay further on energy legislation, noting the House already had passed its energy bill and President Bush is waiting for legislation to sign. Soaring natural gas prices, predictions of even higher prices this winter and questionable supplies add to the urgency, said Frist, R-Tenn.

It's no secret that energy executives enjoy a cozy relationship with the Bush administration, whose energy policy served as the basis for recent energy bills in both the House and the Senate. But Americans deserve policies that promote safe, clean and affordable energy, not policies that are a grab bag of pricey giveaways to corporate polluters. The measure Mr. Kerrey praises rightly died as Congress adjourned. Lawmakers should oppose efforts to resurrect this flawed legislation next year and instead write a bill that benefits consumers, not campaign contributors.

Agency Brokerage Spark But senators, both Republicans and Democrats, acknowledged there is little in the broad Senate package of energy proposals and tax incentives that will address the short-term natural gas supply problem.

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Business Broker Supporters of the bill said the legislation is aimed at the long-term, promoting diversity of energy sources, boosting clean coal development and nuclear power and helping develop the fledgling wind energy industry.

Brokerage Account Many Democrats said the bill doesn't go far enough to reduce energy use and ignores the issue of climate change altogether. The most dominant of the ``greenhouse'' gases believed to be causing global warming comes from burning fossil fuels, especially in coal-fired power plants and gas-guzzling automobiles.

Stock Broker ``How can you have a serious energy bill and not talk about conserving energy? ... How can you avoid the largest consumer of petroleum products in America, the cars and trucks we drive on the highways?'' asked Sen. Richard Durbin, D-Ill., as debate began on proposals to increase federal auto fuel economy requirements.

Brokerage Online Stock Trading Durbin offered an amendment that would require increasing the corporate average fuel economy (CAFE) standard from 27.5 miles per gallon to 40 miles per gallon by 2014. His is one of four CAFE amendments that are likely to come up for a vote Monday. One proposal, offered by Sen. Kit Bond, R-Mo., and supported by the auto industry, would make no change and require the Transportation Department to consider auto industry job losses, safety and foreign competition among other issues when setting fuel economy standards.

Broker Justin Ticket Proposals such as Durbin's would cost auto industry jobs by forcing automakers to cut back production of sport utility vehicles, pickups, vans and larger cars, ``the vehicles quite frankly that Americans are demanding,'' said Bond.

Real Estate Brokerage Other Democrats, joined by some moderate Republicans, will offer several amendments on climate change, from simply requiring industry to provide data on greenhouse gas emissions to a more ambitious proposal that would set a cap on heat-trapping gas emissions -- mainly carbon dioxide.

Commodity Broker Sen. John McCain, R-Ariz., co-sponsor with Sen. Joe Lieberman, D-Conn., of an amendment that would set limits on carbon dioxide emissions, has conceded it has little chance of being approved. But he said the Senate needs to debate the climate issue in light of the Bush administration's strong opposition to mandatory limits on carbon emissions and its rejection of the Kyoto treaty that would have set such limits.

Brokerage House Without tough new auto fuel economy requirements or significant climate measures, environmentalists believe there is little in the bill that warrants their support.

Real Estate Broker Exam ``It's completely skewed'' toward production, said Alys Campaigne, legislative director of the Natural Resources Defense Council. ``It's a step backward and does nothing that requires utilities to push ahead with renewable'' energy sources.

Brokerage Services Domenici and other GOP supporters of the bill argue that a $16 billion tax package, expected to be added to the bill next week, has numerous incentives for energy conservation. The bill also has incentives to spur clean coal production and development of a $20 billion pipeline that will bring natural gas down from Alaska's North Slope.

Broker Live Ticket The bill would also require refiners to double -- to 5 billion gallons a year -- their use of corn-produced ethanol in gasoline; ban the gasoline additive MTBE, which has been found to contaminate drinking water; provide loan guarantees to build six next-generation nuclear power plants; and expand research and development of hydrogen as a future fuel for automobiles and power stations.

Online Brokerage Firm Associated Press - 7/25/2003

Topic: Energy

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