3/30, 5:58 PM (Source: TeleTrader)
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US House passes Republican energy bill

The United States House of Representatives voted on Thursday to adopt the legislation to lower energy prices proposed by the Republicans. The House voted 225-204 in favor of the package.

Among many changes, the Lower Energy Costs Act aims to waive specific environmental review requirements and restrictions on foreign trade of energy products while at the same time ensuring fracking can't be prohibited by an order from President Joe Biden. Finally, the bill seeks to limit Biden's authority in restricting energy projects on federal land.

The Biden administration opposed the legislation, which will have a hard time passing the Democrat-controlled Senate, as it is widely seen as contrasting with Washington's pledge to cut carbon emissions in the coming decades.

Baha Breaking News (BBN) / ND