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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
BRAD GOODE, CNBC ANCHOR: After working through the night, exhausted lawmakers have put the finishing touches on an $11.5 billion energy bill. Under the deal, negotiators from the Senate and House rejected a proposal to reduce U.S. oil consumption by a million barrels a day, a proposal requiring utilities to generate more electricity from renewable energy sources such as wind and solar power was also struck down. But the deal calls for doubling the production of gasoline additive ethanol to 7.5 billion gallons a year by 2012, derived mostly from corn, as you know, Ethanol is a popular home-grown answer to oil imports and a boon to farm income. The full House and Senate will vote on the bill this week with President Bush expected to sign it into law next Monday.
Meanwhile, the negotiators also weighing in, this is interesting, on CNOOC`s (CEO) $18.5 billion bid for Unocal (UCL), lawmakers voting to delay a government review of that bid for 141 days. That would give several agencies enough time to conduct a study on how China`s growing energy demand affects...
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