Steel industry dodges a bullet as President signs energy bill

Dec 19, 2007 | 02:44 PM | Rory Carroll

President Bush signed an energy bill into law Wednesday that will require all cars and light trucks to achieve at least 35 miles per gallon of gasoline by 2020.

The legislation also requires an increase in the use of ethanol in motor vehicles and upgrades to government buildings to make them more environmentally friendly.

The bill originally sought to strip energy companies of $21 billion in tax breaks and require manufacturers to make greater use of renewable sources of power, but lacking enough votes to pass those provisions the Democrats settled for a simpler bill.....

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