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It's a victory four long years in the making but for a white house scrambling for good news in a difficult summer. A win is a win. This legislation will help us reduce our dependence on foreign sources of energy and help address the root causes that have led to high energy prices. So what will the energy bill mean to consumers ? In the near term, NOT MUCH !
"I wanna warn you my senator bill is not going to drop your gasoline prices."
And it does a little to curb America insatiable thirst for oil instead only finding new ways to feed it. The minimal progress of this bill doesn't come close to cutting the needs of America. It doesn't come close to meeting the challenge. There are incentives to develop renewable resources like wind power and alternative fuels like hydrogen. People who buy hybrid cars got a tax credit and more corn-based ethanol will be added to gasoline.
But the bill's also loaded with corporate tax breaks - nearly $3bn for oil and gas companies who are expected to pose record profits this year. Even the energy secretary Wince did that and many Democrats sure didn't like the provision to encourage more nuclear power.
The main reason I am voting against this dog of a piece of legislation is because it gives major mega subsidies to the nuclear industry.
Republicans insist the bill is good for America and some Democrats agree it's a good start . But it's certainly not the final battle over energy this year. Why is that is because what's missing from this measure is the president's central demand to start drilling for oil in the Arctic National Wildlife Refuge that Republicans had to drop that to get the energy bill passed. But watch for what to come back again in September attached to a budget bill and it is going to be a major fight over that one, Bob.
Ahh, John I think I know the answer to this. But why do you put daylight saving time in joint energy bill. Should I ask you ?
It's because they feel they can save 100,000 barrels of oil every day in daylight savings. So they extended to buy a month -- earlier two weeks in the spring, two weeks later in the fall, Bob.
You don't have to turn the lights on
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