US Senate approves broad energy bill

Christie Moffat

20-Apr-2016

Photographer Sipa Press/REX/Shutterstock A gas tanker transporting LNG to China, South China Sea - 2007 A gas tanker 2007
Legislation aims to streamline LNG exports, among many other changes. The bill now must be reconciled with a House version before reaching the president’s desk. (Sipa Press/REX/Shutterstock)

HOUSTON (ICIS)–The US Senate approved a broad energy bill on Wednesday that aims to streamline natural gas pipeline permits and liquefied natural gas (LNG) export applications, among other policy changes.

The Senate voted 85-12 for the Energy Policy Modernization Act, the culmination of bipartisan efforts since 2014 led by Alaska Republican Senator Lisa Murkowski and Washington Democratic Senator Maria Cantwell.

Among a sweeping array of amendments and energy reform, the bill would see billions invested in renewable energy technologies and greater electric grid reliability.

The energy bill also provides the federal government with greater flexibility to sell crude oil from the US Strategic Petroleum Reserve.

The bill now goes to a conference committee in the House of Representatives, to find a way to combine the legislation with an existing House bill that passed in December.

The White House previously said that it supports some aspects of the Senate legislation, but has expressed concerns about other parts.

The last major energy bill passed by Congress was in 2007, expanding a mandate to incorporate biofuels into gasoline.

INSET IMAGE: Tugboats maneuver a liquefied natural gas tanker ship. (REX/Shutterstock)

READ MORE

Global News + ICIS Chemical Business (ICB)

See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.

Contact us

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?