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Wednesday, April 7, 2010 as of 11:14 AM ET

Jeff Bingaman

Jesse Francis "Jeff" Bingaman, Jr. (born October 3, 1943) is the senior United States Senator from New Mexico and a member of the Democratic Party.

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Senate bill squeezes Big Oil to ease deficit

By Timothy Gardner and Deborah CharlesWASHINGTON (Reuters) - Democratic Senators introduced a bill on Tuesday that would repeal tax breaks enjoyed by the five biggest oil companies, freeing up $21 billion over a decade to ease the budget deficit.

Reducing tax breaks for oil and natural gas companies is also a goal of President Barack Obama , who has been keen to tack the blame for soaring gasoline prices on oil companies as he gears up for the 2012 election.Senators Robert Menendez , Sherrod Brown and Claire McCaskill , who face tight races in next year's elections, introduced the bill as U.S. gasoline prices hovered just under $4 a gallon, about 14 cents off a record hit in 2008.Senate Majority Leader Harry Reid said he hoped the measure would come to a vote in the full chamber next week.The bill will likely draw opposition among Republicans, who have said such measures will send gasoline prices even higher.But the bill's sponsors said it would save taxpayers about $2 billion a year, n...

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  1. Cap & Trade Struggles on Capitol Hill

    FBN's Peter Barnes on efforts in the Senate to pass a watered-down version of cap and trade.

  2. Cap & Trade: Necessary or Bad for Business?

    Patrick Creighton DC Institute for Energy Research says cap and trade will kill American jobs while Lester Lave, founder of Carnegie Mellon Electricity Industry Center. aruges it's necessary--who do you agree with?

  3. FOXBusiness.com LIVE: Energy Alternatives

    As cap and trade legislation works its way through Congress, we talk to top experts on energy alternatives. Check out the full hour of FOXBusiness.com LIVE today.

  4. CEO on Why U.S. Needs a Global Warming Plan

    Green Coal

  5. The Congressmen Who Own Stakes in the Automakers

    There's a lot at stake in a potential $34 bn bailout of the automakers, as their chief executives head to Capitol Hill to ask for taxpayer funds.That could include t...

  6. The Congressmen Who Own Stakes in the Automakers « Emac's Stock Watch

    December 3, 2008 11:43 AM UTC by Elizabeth MacDonaldThe Congressmen Who Own Stakes in the AutomakersThere's a lot at stake in a potential $34 bn bailout of the autom...

  7. Powering America

    The need to expand renewable energy.

  1. Senate bill would squeeze Big Oil, ease deficits

    By Timothy Gardner and Deborah CharlesWASHINGTON (Reuters) - Democratic U.S. Senators introduced a bill on Tuesday that would repeal tax breaks enjoyed by the five b...

  2. U.S. Energy Chief Cautiously Defends Nuclear Power

    U.S. Energy Secretary Steven Chu offered a cautious defense of nuclear power Tuesday in the face of a potential disaster in Japan and reassured Americans that U.S. d...

  3. Japan Crisis Shouldn't Curb Growth of Nuclear Energy

    The devastating earthquake and tsunami that have raised fears of a nuclear disaster in Japan are already posing a setback to the global momentum in support of nuclea...

  4. US Democrats Give Energy Committee Seat To Cap-And-Trade Critic

    WASHINGTON -(Dow Jones)- Democrats have assigned West Virginia Sen. Joe Manchin , known for a campaign commercial in which he shot a bullet through a cap-and-trade b...

  5. REFILE-U.S. seen losing renewable energy race to Asia

    WASHINGTON (Reuters) - Several Asian countries inaddition to China could soon challenge the United States in therace to build a renewable energy industry if Washingt...

  6. U.S. seen loosing renewable energy race to Asia

    WASHINGTON (Reuters) - Several Asian countries inaddition to China could soon challenge the United States in therace to build a renewable energy industry if Washingt...

  7. US renewable energy bill faces battle in 2010

    (Corrects paragraph 2 to make clear bill requires 15 perecent renewable by 2021, not 2012)By Timothy GardnerWASHINGTON (Reuters) - A bipartisan group of U.S. senator...

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