(Photo of oil rig in Catalina Channel from Flickr and photographer arbyreed)
Washington Report 1: The repeal of $17 billion in tax breaks for major oil companies and “price gouging” penalties for unseemly oil profits garnered only 51 of the 60 votes needed to get to a vote Tuesday in the Senate. Also going down to defeat was yet another bill to extend tax credits due to expire this year on renewable energy and efficiency. On the first bill, GOP Sens. Collins and Snowe from Maine, Coleman from Minn., Smith from Ore., Grassley from Iowa and Warner from Va. voted with the Democrats. Mary Landrieu from La. was the lone Dem against. On the second bill, Republicans Snowe, Smith and Bob Corker of Tenn. voted with the majority, but that made only 50 votes. Key Democrats Obama, Clinton, Kennedy and Byrd were absent, as was Republican John McCain. Both bills faced a veto from the White House. However, Sen. Max Baucus (D-Mont.) said he intends to revive the renewable tax credit bill, which passed the House last fall in a different form. Both parties seem to favor extending the credits, needed to maintain growth in renewable energy, but there’s a dispute about how and whether to pay for it with other taxes. (Sources: Greenwire, E&E News,
AP/Washington Post)
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