EIA report on Energy BillIn February 2004, Bush's Energy Information Administration (part of the U.S. Department of Energy) released a report titled "Summary Impacts of Modeled Provisions of the 2003 Conference Energy Bill." It was looking at the 2003 energy bill and came to the following conclusions about oil:
The report can be found here:
An inquiry with the Energy Information Administration (EIA) (on whether they have an updated analysis for this year's bill or if the one from last year is still accurate for this year's bill) revealed that, although they have NOT done any update on this specific issue, there were "no major provisions added to energy bill that would swing those results in either direction either way." Also, it was pointed out that no CAFE (increase in auto fuel efficiency standards) made it into this year's bill. In other words, the report's conclusions from last year are still applicable now.
PIRG did a good write-up on the conclusions of the report in a fact sheet they put out last year. See: http://www.uspirg.org/energy/EIAFactSheet_6_2_04_.PDF or http://newenergyfuture.com/reports/eiafactsheetfinal.pdf
Here are excerpts from it:
Energy Bill Fails to Lower Gasoline PricesThe Bush administration has called on Congress to pass the energy bill to provide consumers relief from high gasoline prices. However, the EIA, the statistical arm of the Department of Energy, found that if the energy bill were passed gasoline prices would actually increase both in the short term and the long term.
Energy Bill Fails to Reduce Oil ImportsProponents of the energy bill have claimed that the bill will make America less dependent on foreign sources of energy, but EIA's analysis concludes otherwise.
Last modified: 14 June 2005