U.S. Congress - S.3044 Consumer-First Energy Act of 2008
S.3044 - Consumer-First Energy Act of 2008
A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. view all titles (5)
All Bill Titles
- Short: NOPEC as introduced.
- Short: No Oil Producing and Exporting Cartels Act of 2008 as introduced.
- Official: A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. as introduced.
- Short: Petroleum Consumer Price Gouging Protection Act as introduced.
- Short: Consumer-First Energy Act of 2008 as introduced.
Bill's Views
- Today: 12
- Past Seven Days: 63
- All-Time: 7,962
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Committees
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Latest Vote
Roll call number 146 in the Senate
Question: On the Cloture Motion (Motion to Invoke Cloture on the Motion to Proceed to Consider S. 3044 )
Democrats Voting 'Aye'
Sen. Daniel Akaka [D, HI]Sen. Max Baucus [D, MT]
Evan Bayh
Joseph Biden
Sen. Jeff Bingaman [D, NM]
Sen. Barbara Boxer [D, CA]
Sen. Sherrod Brown [D, OH]
Sen. Maria Cantwell [D, WA]
Sen. Benjamin Cardin [D, MD]
Sen. Thomas Carper [D, DE]
Sen. Robert Casey [D, PA]
Sen. Kent Conrad [D, ND]
Christopher Dodd
Byron Dorgan
Sen. Richard Durbin [D, IL]
Russell Feingold
Sen. Dianne Feinstein [D, CA]
Sen. Thomas Harkin [D, IA]
Sen. Daniel Inouye [D, HI]
Sen. Tim Johnson [D, SD]
Sen. John Kerry [D, MA]
Sen. Amy Klobuchar [D, MN]
Sen. Herbert Kohl [D, WI]
Sen. Frank Lautenberg [D, NJ]
Sen. Patrick Leahy [D, VT]
Sen. Carl Levin [D, MI]
Blanche Lincoln
Sen. Claire McCaskill [D, MO]
Sen. Robert Menéndez [D, NJ]
Sen. Barbara Mikulski [D, MD]
Sen. Patty Murray [D, WA]
Sen. Ben Nelson [D, NE]
Sen. Bill Nelson [D, FL]
Sen. Mark Pryor [D, AR]
Sen. John Reed [D, RI]
Sen. John Rockefeller [D, WV]
Ken Salazar
Sen. Charles Schumer [D, NY]
Sen. Debbie Ann Stabenow [D, MI]
Sen. Jon Tester [D, MT]
Sen. Jim Webb [D, VA]
Sen. Sheldon Whitehouse [D, RI]
Sen. Ron Wyden [D, OR]
Republicans Voting 'Aye'
Norm ColemanSen. Susan Collins [R, ME]
Sen. Charles Grassley [R, IA]
Gordon Smith
Sen. Olympia Snowe [R, ME]
John Warner
Others Voting 'Abstain'
Official Summary
5/20/2008--Introduced.Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primOfficial Summary
5/20/2008--Introduced.Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to:
(1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof;
(2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit;
(3) impose a windfall profits tax on major integrated oil companies; and
(4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming. Petroleum Consumer Price Gouging Protection Act - Declares it unlawful for a supplier to sell crude oil, gasoline, petroleum distillates, or biofuel at an unconscionably excessive price in an area for which the President declares that an energy emergency exists. Grants the Federal Trade Commission (FTC) authority to enforce this Act.
Authorizes the President to declare a federal energy emergency if the well-being of U.S. citizens is at risk because of a shortage or imminent shortage of adequate supplies of crude oil, gasoline, petroleum distillates, or biofuel because of:
(1) a disruption in the national distribution system; or
(2) significant pricing anomalies in the national energy markets for such products.
Authorizes state attorneys general to bring civil actions to enforce this Act. Sets forth civil and criminal penalties for violations.
Directs the Secretaries of Energy and the Interior to suspend acquisition of petroleum for the Strategic Petroleum Reserve until December 31, 2008.
No Oil Producing and Exporting Cartels Act of 2008 or NOPEC - Amends the Sherman Act to make it illegal for any foreign state to act with another foreign state to:
(1) limit the production or distribution of oil, natural gas, or any other petroleum product;
(2) set or maintain prices for such products; or
(3) otherwise take any action in restraint of trade for such products. Denies sovereign immunity or act of state doctrine protections for foreign states who engage in such such illegal conduct. Amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to:
(1) determine that foreign boards of trade subject to CFTC jurisdiction regulate and provide information on off-shore oil trading; and
(2) set a substantial increase in margin levels for all oil futures trades, contracts, or transactions.
...Read the Rest
Recent News Coverage
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OPINION: Americans Need Relief From High Energy Costs
The Consumer-First Energy Act, S. 3044, which I co-sponsored, addresses the root causes of high gas prices by holding the big oil companies, speculators, ...
Crude ideas about crude oil
Exhibit A in the case against congressional Democrats as wise stewards of the energy economy is S. 3044, which failed to advance Tuesday after it got too ...
Bursting the Oil Bubble
Unfortunately, the Senate failed to end debate on the Consumer-First Energy Act, S. 3044, which would have reined in speculators. ...
Recent Blog Coverage
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Senator Boxerâs [Biiiggg] Oil Response to California ...
I am proud to be an original co-sponsor of S.3044, the Consumer-First Energy Act of 2008. This important bill would impose a windfall profits tax on oil companies to discourage price gouging and to help consumers offset the high costs ...
» Survey Shows World Opinion Strongly Supports Emissions ...
Time for a New Green Deal (100%); Climate Change Talks Conclude in Paris (93%); It's Official: EPA Throws Climate "Under the Bus" (93%); Senate Minority Blocks Renewable Energy Tax Incentives (H.R. 6040) and Bows to Big Oil (S.3044) ...
Tax Flash
Last Senate version (S. 3044) failed in two floor votes. Section 199 deduction ⢠Various proposals exist to repeal Section 199. altogether, deny it for all oil and gas production, or. deny it only for major integrated oil companies ...
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