AP: Menendez acknowledged that the legislation - slated for a vote next week - won't do anything about gas prices exceeding $4 a gallon in many places. - Republican opponents say the companies would simply raise prices if the measure became law. Menendez acknowledged that the legislation - slated for a vote next week - won't do anything about gas prices exceeding $4 a gallon in many places. The measure would also eliminate the so-called oil depletion allowance for the five oil companies. That allowance permits producers a tax deduction comparable to the break given manufacturers for depreciation of the value of an investment in plants and equipment. The other companies that would be affected by the legislation are BP, Chevron, and ConocoPhillips. "It's a shame that this industry hasn't been appreciated for all of the good that it does," Landrieu said.

Politico: Democrats will still have to answer the question of what they are proposing to do to address gas prices - Democrats will still have to answer the question of what they are proposing to do to address gas prices - despite the general consensus that there is little, if anything, lawmakers can do at least in the short term. "It is dishonest for any of us to say that there's some magic wand that can be waved and bring down gas prices, unless of course we want to have government price fixing, which I don't think any of us are interested in doing," McCaskill said.

Senate Minority Leader Mitch McConnell (R-Ky.) is pressing Senate Democrats to reconfirm a Republican member of the Nuclear Regulatory Commission to another term on the body.

McConnell, in a speech Tuesday before a nuclear industry conference, said there's "no reason whatsoever" that the reconfirmation of William Ostendorff should be "delayed another day."

"At a time when the President has asked the NRC to conduct a review of safety at existing US nuclear power plants, it is critical that the only commissioner who actually has any hands-on experience dealing with a nuclear reactor be allowed to continue his service," McConnell said at the Nuclear Energy Institute conference, according to his prepared remarks.

"So this morning I call on those who continue to hold up this nomination to stop playing politics with this nomination and re-confirm this man to his post," he said.

Senate Democrats are letting their politically vulnerable brethren lead the way as they push legislation that would cut billions in annual tax breaks for the largest private oil companies.

Sens. Robert Menendez of New Jersey, Sherrod Brown of Ohio and Claire McCaskill of Missouri are slated to promote the measure at an 11 a.m. press conference today, and Montana’s Jon Tester will also get his name in lights, Brown told reporters last night. All four face reelection in 2012, and Brown, McCaskill and Tester will duke it out in swing states.

Democrats have openly admitted that it’s good politics to take on oil companies at a time of high gas prices and higher industry profits, and they’re hoping associating their vulnerable candidates with the effort will pay dividends come 2012. Goode has more for Pros: http://politico.pro/inDSQN

SORRY, MAX – It’s official: Democrats will deviate from Max Baucus’s blueprint for the bill that would have used the new tax to fund initiatives intended to reduce oil consumption. Instead, Democrats are proposing to put the approximately $4 billion annually toward balancing the budget and daring their Republican colleagues to vote against deficit reduction.

A Louisiana senator is close to ending his hold on President Obama's pick to lead the Fish and Wildlife Service, but other Republicans are delaying Dan Ashe's confirmation over his positions on climate change and endangered species and over new wilderness policy.

A spokeswoman for Sen. Mike Lee said the Utah Republican has placed a hold on Ashe over concerns that Interior Secretary Ken Salazar's "wild lands" order to inventory and protect roadless lands in the West would thwart economic development in his home state.

Lee will also place holds on all Interior nominees until the agency resolves his concerns over wild lands, said spokeswoman Emily Bennion. The policy announced in December circumvents the authority of Congress to designate wilderness protections and could bar recreational opportunities and oil and gas development, Lee has said.

In the debate over rising gas prices, Washington is creating a massive distraction: whether Congress should eliminate tax "subsidies" for oil and gas companies. Of course oil and gas companies don't receive checks, grants, or direct payments from the federal Treasury, so the debate is a red herring. What's really needed is price relief for consumers at the pump. The best way to do that is to produce more affordable energy here at home.

We certainly have plenty of it: according to the non-partisan Congressional Research Service (CRS), America's combined supply of oil, coal, and natural gas is the largest on Earth. Put another way, America's recoverable resources are far larger than those of Saudi Arabia (3rd), China (4th), and Canada (6th) combined. And that's without including America's immense oil shale and methane hydrates deposits.

The CRS report was requested by me and my colleague, Sen. Lisa Murkowski (R-Alaska). It grew out of frustration with the Democrats' refrain that America only has 3 percent of global oil reserves, and therefore, under this view, more drilling and production at home is futile. As President Obama put it, "With 3 percent of the world's oil reserves, the U.S. cannot drill its way to energy security."

President Barack Obama is offering his beleaguered green base some titillating morsels for what he hopes to deliver on energy policy if he wins a second term.

Don't get Obama wrong; these are not campaign promises - yet.

But over the past month, the president has made it clear in West Wing meetings and fundraisers that he wants to rally environmentally minded voters who, thanks in large part to last year's big global warming legislative failure, still feel like his second pick for the prom.

WASHINGTON - Ignored by one agency, a group of U.S. senators led by Oklahoma Republican Jim Inhofe has contacted a second agency about its concerns that a lead paint proposal could backfire and weaken protections for children and pregnant women.

Inhofe and the 10 other Republicans, including Sen. Tom Coburn of Oklahoma, have appealed to an agency within the Office of Management and Budget, which they believe received the lead paint proposal from the U.S. Environmental Protection Agency for approval.

At issue is the EPA's proposed change to require "clearance testing'' to prove the presence or absence of lead following a home renovation project.

WASHINGTON - Long before the recent spike in gasoline prices, the Obama administration sought to eliminate tax deductions peculiar to the oil and gas industry. The goal: to reduce investment in domestic production of fossil fuel-based energy.

And though President Barack Obama this week publicly linked "Big Oil" to his proposal to eliminate the tax breaks, a true target of the plan is independent companies. In fact, the administration wants to eliminate some of the deductions partly because they're biased against big oil companies that produce oil and sell gasoline at retail stores.

It's not a secret. The administration's policy - aimed at reversing decades of incentives for producing domestic oil and gas - has been spelled out explicitly in budgets and in testimony on Capitol Hill.

The Nuclear Regulatory Commission has been in "emergency" status since the United States received tsunami warnings in the wake of a March 11 earthquake that crippled Japanese nuclear reactors last month, documents obtained by Greenwire reveal.

NRC Chairman Gregory Jaczko is using the rarely used status, allowing for the transfer of certain commission decisionmaking powers to himself, because of concerns that the tsunami spawned by the quake could hit the United States. Though that threat subsided within 48 hours, the emergency status continues, according to an email the NRC's Office of Congressional Affairs sent to a senior staffer for the Senate Environment and Public Works Committee.

"The chairman has been exercising his emergency authority since that time," the April 4 email said, noting Jaczko had such authority under Section 3 of the Reorganization Plan No. 1 of 1980. "The agency will return to a non-emergency status when the situation warrants."

Congress passed the law in 1980 to ensure there was decisive leadership for dealing with nuclear emergencies in the aftermath of the partial nuclear meltdown in 1979 at the Three Mile Island plant in Pennsylvania, the NRC said.

Senate Republicans urged the Obama administration yesterday to reconsider U.S. EPA's implementation plan for a new lead-based paint rule.

In a letter to the White House Office of Information and Regulatory Affairs (OIRA), Sen. James Inhofe of Oklahoma led a group of Republicans in criticizing proposed amendments to EPA's Lead: Renovation, Repair and Painting (LRRP) rule.

The original rule took effect last April and requires housing contractors to obtain certification in lead-safe work practices before renovating properties built before 1978, when lead was banned from use in residences (Greenwire, April 23).

EPA sent the proposed amendments to OIRA for review last week. One of those amendments requires "clearance testing" following renovations to ensure lead is not present in homes.

Inhofe, the ranking member of the Senate Environment and Public Works Committee, called that requirement a "dramatic change to the program" that "will amplify the unintended consequences we have heard from our constituents: that the higher costs from current LRRP renovators have pushed homeowners to either hire uncertified individuals or to perform renovation work themselves."