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Energy bill's * USA - Winners and Losers
Ethanol wins, Detroil loses, Big Oil dodges the bullet
Washington,DC,USA -MarketWatch, by William L. Watts -Jun 22, 2007: -- Like most pieces of sweeping legislation, the energy bill passed late Thursday by the Senate offers a variety of winners, losers and those that fall somewhere in between... If any industry clearly comes out ahead, it's the ethanol business, analysts say. The Senate bill massively boosts the mandate for ethanol use from 7.5 billion gallons in 2012 to 36 billion gallons by 2022... Ethanol producers have seen their stock prices flag in recent months amid concerns about a near-term supply glut and the impact of rising commodity prices... Detroit setback: Detroit's Big 3 automakers were unable to stave off a major change to corporate average fuel economy, or CAFE, standards... Under current CAFE standards each automaker's fleet must average 27.5 miles a gallon for cars and 22.5 miles a gallon for light trucks for model-year 2008... Big oil dodges bullet: In another dramatic turn, Republican senators blocked an amendment that would have provided $32.1 billion in tax incentives over 10 years to alternative energy producers, offsetting much of the impact by rescinding tax breaks and boosting other revenues collected from big oil and gas firms... Moreover, the tally "confirmed strong majority support for extracting funding from petroleum companies to fund clean and green energy," wrote energy policy analysts Kevin Book and Patrick Hughes of Friedman, Billings, Ramsey & Co.... A smaller package -- in the $10 billion to $15 billion range -- would likely prove more palatable, they said, which indicates a smaller package of alternative-energy subsidies is likely to come out of any House-Senate negotiations on a final energy package later this year...
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