Democrats hope to establish alternative energy fund

| 12/29/2006

Democrats in the U.S. House of Representatives say they'll set up a special fund to promote renewable energy and fuel conservation once they become the majority party in 2007.

And, according to The Associated Press, they plan to pay for it with revenues from the oil industry.

Details haven't been worked out yet, but The AP reports that the money from big oil could come from increased royalties or cutbacks in the tax breaks the industry receives.