Senate, House energy bills compared

updated 10:43 a.m. ET June 24, 2005

Major provisions in the Senate energy bill, compared with a bill the House passed in April.

SENATE BILL:

• Cost: $16 billion.
• Tax incentives: $18 billion, offset by $4.3 billion in new energy taxes, tilted toward conservation, alternative fuels and renewable energy sources.
• Ethanol: Requires use of 8 billion gallons annually in gasoline by 2012.
• Arctic refuge: Nothing.
• Loan guarantees: For developing clean coal, new reactors, carbon capturing technologies.
• Offshore energy: Calls for inventory of Outer Continental Shelf oil and gas resources.
• LNG: Establishes clear federal authority over siting LNG import terminals.
• Oil Savings: Calls on president to find ways to reduce oil use by 1 million barrels a day by 2025.
• Daylight Saving Time: Nothing.
• Energy efficiency: Tax breaks for purchase of energy efficiency appliances, hybrid automobiles, building energy efficient homes.
• Electricity grids: Mandatory reliability standards and tax incentives for grid improvements.

HOUSE BILL:

• Cost: $8 billion (assumes $2.6 billion expected revenue from ANWR oil leases).
• Tax breaks $8.1 billion over 10 years, almost all for traditional fossil fuels and electric utilities.
• Ethanol: Requires use of 5 billion gallons annually in gasoline by 2012.
• Arctic Refuge: Approves oil drilling in Alaska’s Arctic National Wildlife Refuge (ANWR).
• Loan guarantees: None.
• Offshore energy: $2 billion in government support for research into ultra-deep water drilling.
• LNG: Same.
• Oil saving: Nothing.
• Daylight Saving Time: Extends it by two months.
• Energy efficiency: Tax breaks for homeowners making energy-improvements.
• Electricity grids: Same.

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