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Tuesday, August 02, 2005

Bush To Sign Energy Bill at Sandia Labs


Associated Press
      President Bush will sign the energy bill in New Mexico, whose two U.S. senators played key roles in fashioning the sweeping measure.
    Bush will sign the measure Aug. 8 at Sandia National Laboratories in Albuquerque, Republican Sen. Pete Domenici said Tuesday.
    "Before we put the energy bill together, President Bush promised me that he would sign it in New Mexico,'' Domenici said.
    The Senate voted 74-26 last Friday to approve the legislation and send it to the president.
    The measure will funnel billions of dollars to energy companies, including tax breaks and loan guarantees for nuclear power plants, clean coal technology and wind energy.
    Domenici, chairman of the Energy and Natural Resources Committee, led Senate negotiations on the bill with the House.
    Sen. Jeff Bingaman led Democrats in fashioning the bill, which is the first major overhaul of the nation's energy policies in 13 years.
    The legislation contains provisions that are important to New Mexico, Bingaman said.
    "It, of course, calls for substantial research and development work to be done by the Department of Energy, much of which will be done by our national laboratories in New Mexico,'' he said.
    "It also, of course, provides additional incentives and opportunities for development of traditional energy sources — oil and gas in particular,'' Bingaman said.
    The measure encourages development of wind and solar energy, he said.
    Domenici said the legislation "will change the way we view energy.''
    "It will produce stabilized prices, spur the creation of clean technology like solar, wind and nuclear, and boost our economy,'' he said.
    "It is fitting that it will be signed in New Mexico, where energy of all types is so important to our state,'' Domenici said.
    Bingaman said he wishes the legislation had done something about vehicle fuel efficiency.
    "I would have liked to have seen a requirement on utilities to produce a certain percentage of their electricity from renewable resources by 2020,'' he said.
    "I also would have liked to see us do something significant on global warning,'' Bingaman said.