Boosting industry hopes that the White House's energy agenda will move forward, Republicans in elections Nov. 5 won narrow control of the US Senate and expanded their hold in the House of Representatives for the new congressional terms that begin January 2003.
"Policy proposals on energy, chemical risks, clean air, and other issues are poised to come up for approval in both houses of Congress in the months ahead. During that time many of the bills initially passed or favored by the Republican House of Represenatives will now have a substantially increased chance of gaining approval and making their way to the president's desk," said Competitive Enterprise Institute.
Democrats control the Senate during a brief postelection "lame duck" session that started Nov. 12, but comprehensive energy legislation appears to be off the table until next year. A final decision on energy legislation is expected before Congress formally adjourns for the year, a possibility at presstime as early as Nov. 15.
More likely to be on the shortened legislative agenda are terrorism insurance issues and creation of a new Department of Homeland Security. Industry has interest in both issues; investors may be more interested in energy infrastructure projects if Congress addresses the insurance issue. And with regard to Homeland Security, industry wanted assurances from lawmakers that the US Environmental Protection Agency will not monitor chemical manufacturing and transport. Congress is also expected to pass a temporary funding measure to keep the federal government operating until the 108th Congress begins. Decisions on the 2003 fiscal year that began Oct. 1 will be decided in late winter and could take until early spring.
Post-lame-duck
Industry is also studying who will be the new faces of power on Capitol Hill come January. In the House, Republicans expanded their control by at least four seats. A few committee chairman slots will change because of retirements, but the basic leadership is expected to stay in place. Industry is watching to see who will take over the Committee on Resources, a panel that considers public land policy. Another important post up for grabs is the chairmanship of the Appropriations Subcommittee on Interior, which oversees spending for many oil and gas programs in the departments of Energy and the Interior.
Democrats meanwhile are making dramatic changes: Minority Leader Dick Gephardt (D-Mo.) stepped down, ostensibly to prepare for a presidential bid in 2004; liberal Nancy Pelosi of California replaced him.
In the Senate, Trent Lott of Mississippi is expected to continue as majority leader; his counterpart Tom Daschle (D-SD) will likely be the top Democrat.
Although having control of the committees will be useful, the balance of power is still fragile enough that extremely controversial subjects, such as Arctic National Wildlife Refuge leasing, will be subject to gridlock under Senate rules that require a "supermajority" of 60 votes to shut down debate. Republicans currently hold 51 seats in the Senate; that number could change depending on the results of a Dec. 8 run-off in Louisiana, although incumbent Mary Landrieu (D-La.) is favored to retain control of the seat.
