Renewable Power Rules, Drilling Backed by U.S. Senate Panel

(Bloomberg) — A Senate energy panel approved legislation that would require utilities to get as much as 15 percent of their power from renewable sources and open more of the eastern Gulf of Mexico to oil and gas drilling.

The Senate Energy and Natural Resources Committee voted 15- 8 today for the measure, which would also expand oversight of oil, natural gas and power markets.

The legislation will help push the nation to develop