House Panel Clashes On Whether Spill Should Prompt Energy Law Revamp

15th Jun 2010 16:17

By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--House Democrats and Republicans on a key subcommittee clashed Tuesday over whether the country's energy policies should be revamped in the wake of the Deepwater Horizon oil spill. Lawmakers at a U.S. House Energy and Commerce Committee hearing quickly divided over whether to pass legislation to address clean energy technology and climate change policies. "Our national energy policy is broken and we're addicted to oil," said Chairman Henry Waxman (D., Calif.). Waxman and other panel Democrats said it was time to pass new laws. Rep. Edward Markey (D., Mass) said he sees several priorities in coming weeks and months, including lifting the cap on oil companies' liability in the event of oil spills, making sure new safety standards are set for the oil industry and promoting technology that protect against oil spills. Republicans, however, warned against using the oil spill in the Gulf of Mexico as a springboard to address larger energy issues. Congress should be wary of passing regulation "with really no thought to the consequences down the road," said Rep. Michael Burgess (R., Texas). Executives from oil giants BP PLC (BP, BP.LN), Exxon Mobil Corp. (XOM), Royal Dutch Shell PLC (RDSA, RDSB, RDSA.LN, RDSB.LN), ConocoPhillips (COP) and Chevron (CVX) were to testify before the panel. The panel's highest ranking Republican, Rep. Joe Barton of Texas, said lawmakers should work with oil companies to clean up the ongoing spill and to address future safety concerns. "The five people most concerned about solving the problem are probably sitting before us today," he said, referring to the oil executives. -By Tennille Tracy, Dow Jones Newswires; 202-862-6619;[email protected]. (END) Dow Jones Newswires June 15, 2010 11:17 ET (15:17 GMT)