Yesterday the Senate passed an energy bill that helps reduce America’s oil dependency and takes an important step toward reducing global warming pollution. Unfortunately, the bill does not close $13 billion worth of tax loopholes and subsidies for the oil industry and reinvest the money in clean and renewable energy technologies. Earlier in the day, 40 senators blocked the bill, forcing Senate leaders to jettison the tax provisions.

Oil companies have given $8 million to senators over the past four years. Yesterday's action by 40 Senators proved they have gotten their money’s worth: $1,600 in tax breaks for every dollar the oil industry has spent in campaign contributions. Here is a breakdown (pdf) of oil and gas company contributions to the 40 senators who blocked a measure to rollback oil company giveaways (source:  Center for Responsive Politics).

Despite this, the bill passed yesterday increases vehicle fuel economy standards by 40 percent and will save consumers $40 billion a year at the pump and help spur innovation and new American jobs. Its improved energy efficiency standards covering a wide range of products, lighting and buildings will also benefit American consumers.

The energy bill also improves provisions that boost homegrown biofuels and reduce our dependency on oil. The improvements include performance-based standards to ensure biofuels significantly curb global warming pollution and help to ease some of the impacts of biofuels production on wildlife and native habitats.

Learn more about the energy bill:
http://online.nwf.org/finishline