Bill highlights
Major provisions of the energy bill passed 249 to 183 by the House:
• Open the coastal plain of the Arctic National Wildlife Refuge in Alaska to oil drilling.
• Provide $8 billion in tax breaks over 10 years, mostly for oil, gas, nuclear, coal and electric utilities.
• Provide product liability protection for makers of MTBE against lawsuits stemming from the gasoline additive contaminating drinking water.
• Require refiners to use 5 billion gallons of corn-based ethanol by 2012, a 20% increase over what the industry is expected to produce this year.
• Expand Daylight Saving Time by two months. It would start on the first Sunday in March and end on the last Sunday in November.
• Require mandatory reliability standards for electric power lines, instead of industry self-regulation.
• Give the Federal Energy Regulatory Commission clear authority to override states and local officials in locating liquefied natural gas import terminals.
• Provide $2 billion in royalty relief to oil and gas industry over 10 years for research on ways to recover oil and gas from deep waters of the Gulf of Mexico.
• Provide a tax credit of as much as $2,000 for homeowners who install more energy-efficient windows, doors and insulation.
From the LA Times
http://www.latimes.com/news/nationworld/nation/la-na-energy22apr22,1,1283425.story?coll=la-headlines-nation:mad: