
Senator Robert Menendez at a news conference Wednesday about oil industry legislation.
The drilling bill was approved 263 to 163, with 28 Democrats joining unanimous Republicans, after the majority swatted down several Democratic amendments. The bill would force the Interior Department to act within 60 days on all applications for offshore drilling permits. The House then turned to a second Republican-sponsored bill that would open much of the Atlantic, Pacific and Arctic shorelines to new oil and gas exploration. A vote on that measure is expected Thursday.
The Obama administration vigorously opposed both measures, but stopped short of threatening to veto them - in part because it is highly unlikely they will win enough votes in the Senate to overcome a filibuster.
Meanwhile, House and Senate Democrats continued their push to repeal a variety of tax breaks enjoyed by the oil industry, some of them a century old and others that apply to all companies, not just petroleum concerns.
The Senate version of the bill would peel back $21 billion in such tax incentives over the next decade and devote the savings to deficit reduction. The House version would yield $31 billion in savings over 10 years and use the money for alternative energy programs and deficit reduction. Both bills apply only to the biggest multinational oil companies: Exxon Mobil, Shell, BP, Chevron and ConocoPhillips.











