The good news is that U.S. Senate leaders have drafted a scaled-back energy bill: the Energy Policy
Act of 2003 (S. 2095). The Senate bill would slash about $17 billion from the conference report, the Energy Policy Act of
2003 (H.R. 6), making the 10-year price tag for this package around $14 billion instead of $31.1 billion.
The bad news is that the new, leaner bill "achieves the same goals the old bill did." In other words, special interests would still receive substantial taxpayer subsidies--just
not as quickly and as much--due in part to budget gimmicks that delay implementation of most of the provisions until later
For example, large agribusinesses would still
be enriched through an ethanol mandate; the coal industry would still receive over $2 billion in subsidies; and uneconomical
renewable resources would still be given preferential tax treatment. ...
[This article analyzes the Senate's bill and outlines the provisions that should be
included in a responsible energy bill - with footnotes and sources.]