(Xinhua)
Updated: 2007-12-14 15:43

Oil companies welcomed the Senate's decision to drop its tax package, but was otherwise more guarded.

"There are provisions promoting energy efficiency in the legislation that will enhance our nation's energy security," said the API in a statement. "However, we remain concerned by the unrealistic biofuels mandate."

Following the Senate green light, House approval of the revised bill was expected. The White House also said late Thursday that President George W. Bush would not veto the bill.

"If the legislation makes it to the President's desk, he will sign it into law," The White House said in a statement.

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