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July 25, 2008 6:49:29 AM CDT

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Senate Passes Energy Bill

Posted Jun 22, 07 5:00 AM CDT in Politics,  Business,  US 

(Newser) – The Senate gave a green light to an energy plan that would pump total fuel-economy standards to 35 mpg by 2020, and require vehicles to run on 85% ethanol by 2015. Democrats say the bill will reduce America's reliance on foreign oil, help control gas prices and counteract the effects of global warming, while analysts say it's a blow to Detroit.

"I'd thought we were going to be here all night," said Diane Feinstein after legislators approved the plan 65-27 just before midnight. The bill also includes a proviso against price-gouging, but Dems couldn't squeeze a huge tax hike on oil companies in. The proposal faces a stiff debate in the House, probably as soon as next week.

Source CNN

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global warming  • Senate  • gas prices  • auto industry  • House of Representatives  • Detroit  • energy  • ethanol  • fuel  • Dianne Feinstein


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