On February 27, President Bush met with key House and Senate Members to discuss ways to craft new energy legislation. The goal of the meeting was to start a dialogue on energy matters with the "Big Four," which includes the Chairmen and Ranking Members of the Senate Energy and Resources and House Energy and Commerce Committees. Though the Administration does not have a set timeframe for action, a chief White House priority is to implement a 35 billion gallon renewable fuel standard. Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM) expects to have some energy legislation to his panel within a few weeks. Bingaman noted that he wants to establish a Renewable Portfolio Standard (RPS), but he will not link the RPS to a carbon cap-and-trade plan in the same bill. Instead, plans for cap-and-trade will be included in a standalone bill. Bingaman's spokesman said that royalty relief, biofuels, the RPS, energy efficiency and climate change are all possible topics for stand alone bills.
House Majority Leader Steny Hoyer (D-MD) said the House will act on similar legislation in June.