NEW YORK (CNNMoney.com) -- Democrat leaders in the Senate decided Thursday to sideline a contentious plan to limit greenhouses gases. Instead, they will push for a much more modest energy measure which focuses on conservation and issues related to offshore drilling.
"Many of us want ... a comprehensive bill that creates jobs, breaks our addiction to oil and curbs pollution," said Senate Majority Leader Harry Reid, D-N.V., in a statement late Thursday. "Unfortunately, at this time not one Republican wants to join us in achieving this goal. That isn't just disappointing. It's dangerous."
But it wasn't just Republicans who blocked the plan. Several Democrats, mostly from Midwestern states heavy with coal and manufacturing, also refused to support the original proposal, fearing it would push up energy costs and hurt the economy.
Also shelved Thursday was a plan to require utilities to buy a certain percent of their power from renewable sources.
Reid said any energy bill will now focus on four smaller areas: Money for energy conservation in homes -- known as "Home Star" and sometimes called "cash for caulkers" by critics; unspecified measures to make BP pay for the Gulf oil spill and prevent further accidents; providing incentives for trucks powered by natural gas; and funding for the Land and Water Conservation Fund.
The fate of some trade-offs Democrats had offered in an attempt to pass a compressive global warming bill is uncertain, including increased access to oil and gas in the United States and more nuclear energy.
Reid vowed to revisit a broad energy bill at a later date.
Martin Shkreli, the reviled drug company CEO who faces federal criminal charges, nearly doubled his $3 million investment in KaloBios. More
Brazil's economy contracted 3.8% in the second quarter. The economic news came as President Dilma Rousseff faced an impeachment trial. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
The country's most expensive housing markets have appreciated at a much faster clip than homes in the least expensive markets, according to Trulia. More