July 30th, 2007
When a lobbyist is like a shark
Lobbyists are exerting serious energy over energy. Money to lobbyists like blood to sharks. And the proposed changes in American energy laws could bring billions of federal money into play.
Everybody from oil companies to vengture capitalists are watching this one. This evening AP is reporting there’s been some move toward settling a few of the outstanding issues that divided Democrats who hold a majority in the U.S. Congress.
The report indicates the bill doesn’t “increase automobile fuel economy, a mandate to use more ethanol as a substitute for gasoline, or to require electric utilities to use renewable fuels.”
In its current form the bill, says AP, “includes tax breaks, loan guarantees and other incentives to develop renewable energy sources, hybrid gas-electric cars that would get their juice from the electricity grid, and new efficiency standards for an array of appliances and equipment. The energy legislation has been the focus of intense lobbying by both industry and environmentalists in recent days.”
Intense lobbying, billions of tax dollars. Of course they go hand-in-glove. Or is that hand-in-pocket. Meanwhile, this energy bill is far from a done deal as the House version doesn’t match one passed by the Senate. This bill will generate a lot of heat in Washington and some extensive power-lunching.
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
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