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Investor's Business Daily

| May 01, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Cheney Warns On Energy:

Blackout Disease Infectious

1Vice President Dick Cheney warned the U.S. could face California-style blackouts. He outlined a strategy relying heavily on oil, natural gas and nuclear power. Conservation, while virtuous, doesn't make for sound policy, he said. Alternative energy sources are years away, he said, and 1,300-1,900 more power plants are needed. Cheney rejected price controls or using strategic reserves. The Bush team wants to drill in a small part of the Arctic National Wildlife Refuge, boost hydroelectricity and cleaner coal, and build nuclear plants and refineries.

Senate Near Compromise

On Bush Tax Cut Details

2Senate Finance Committee Chairman Charles Grassley said he expects to unveil details of an across-the-board tax cut by next Monday, and that a bill could be on President Bush's desk for signing by Memorial Day. The House has approved the $1.6 trillion cut over 10 years Bush requested. Senate Majority Leader Trent Lott warned against trying to shrink that below $1.3 trillion. TheSenate has approved $1.2 trillion.

Bush May Tie Nuclear Cuts

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