Senate Democrats May Introduce New Energy Bill This Week

Senate Democrats may introduce an energy bill this week to improve safety on offshore oil-drilling rigs and to convert trucks to run on natural gas. Majority Leader Harry Reid may unveil the bill as early as today, and Democrats would like to pass it next week, Reuters reported.

Democrats last week dropped efforts to include climate change measures in the bill, saying they had no Republican votes for measures such as requiring utilities to generate some of their energy from renewable sources.

The slimmed-down bill would hold BP (BP) accountable for the oil spill in the Gulf of Mexico and try to ensure similar disasters don't occur, Reid said last week. The bill would likely raise the liability cap on the cost of oil spills from $75 million to $10 billion or more. It would also offer incentives for truck owners to convert their vehicles to natural gas, which could cost the government $4.1 billion.
Read Full Story


NASDAQ 7,345.29 -19.02 -0.26%
S&P 500 2,711.93 -5.01 -0.18%
DJIA 24,682.31 -44.96 -0.18%
NIKKEI 225 21,461.49 80.52 0.38%
HANG SENG 31,200.29 -214.23 -0.68%
DAX 12,309.15 1.82 0.01%
USD (per EUR) 1.24 0.00 0.08%
USD (per CHF) 0.95 0.00 -0.07%
JPY (per USD) 105.71 -0.22 -0.21%
GBP (per USD) 1.42 0.00 0.10%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.