Gallery: New Energy Bill Isn’t the Real Thing, Says President Obama


As Senate Democrats revealed their previously-announced completely pared-down energy bill yesterday, President Obama tried to calm the public by saying this was just the first step in a long process. The new bill does outline a number of provisions relating to the offshore drilling industry, including lifting the liability cap for oil spills, denying drilling rights to any company that has 10 or more deaths in the last 7 years on offshore or land based wells (right now BP is the only one), and it supports the President’s plan to create a new governmental agency to oversee the now-stiffer regulations for the drilling industry. As we mentioned earlier this week, it also provides incentives for natural gas vehicles, and to our pleasant surprise better incentives for electric vehicles as well.

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