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WATCHING GOVERNMENT: Domenici’s call for reason

03/10/2008
US Sen. Pete V. Domenici (R-NM) could see a storm coming. The US House had just passed its latest bill to deny financial incentives to major oil companies and use the money to fund alternative energy programs. Crude prices were days away from breaking their inflation-adjusted record as the overall economy continued to slow down.So the Energy and Natural Resources Committee’s chief minority member sought time to make Senate floor speeches on Feb. 28-29 to address a problem that has grown increasingly political: the economic consequences of allowing oil imports to keep growing.Domenici noted that experts estimate that foreign oil will cost the US $400 billion this year. He cited Natio...
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