Despite
praise from renewable energy advocates, an
article by Cathy Landry posted on Platts reports that Bush may veto the energy bill passed by the U.S. House:
US President George W. Bush's senior advisers will recommend he veto the US House energy bills to be debated on the floor later Friday if they are presented to the president in their current form, the Office of Management and Budget said in a State of Administration Policy released Friday.
"Because H.R. 2776 and H.R. 3221 fail to deliver American consumers or businesses more energy security, but rather would lead to less domestic oil and gas production, higher energy costs, and higher taxes, the president's senior advisers would recommend that he veto these bills," the statement said.
The House is to debate Friday two pieces of energy legislation--one a legislative bill designed to promote renewable energy and roll back a number of provisions in the Energy Policy Act of 2005, and the second a tax piece that repeals $15.3 billion in oil and gas industry tax breaks included in the 2005 energy bill, redirecting the cost savings to new funding of incentives for renewable and alternative fuels.
The White House said it was particularly concerned about the repeal of oil and gas industry tax credits, saying they would lead to higher energy costs to US consumers and businesses.
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