(FORTUNE Magazine) – "We haven't had an energy policy in this country," George W. Bush said late last month. He aims to change that with the bill the House passed April 21. Critics deride the legislation as a giveaway to the fossil-fuel industry. They're wrong. It's a giveaway to everyone. There isn't an interest group left out of this 1,035-page mishmash. For example, why is the federal government helping to finance oil and gas production when energy companies are awash in cash? And when, oh, when, will we stop throwing money at ethanol, which despite 20 years of subsidies has never found a place in the market? Perhaps when pigs fly--one of the few programs that didn't get funded. -- Cait Murphy