Washington, D.C. – U.S. Senator Mike Enzi, R-Wyo., said the Senate side-stepped a measure today that could have jeopardized a new avenue for business in the energy industry.

The Senate voted 50-48 not to invoke cloture on an amendment offered by Senator Dianne Feinstein, D-Calif., to the energy bill. The amendment would have burdened energy, metals and other derivative traders with new regulations that could have resulted in greater price volatility in energy markets. The amendment fell 12 votes short of the 60 necessary to invoke cloture which would set the stage for a final vote.

"Energy trading is an industry in its infancy and if we start to regulate it at this time we run the risk of stifling competition and reducing the possibility of it reaching its full potential. Experience has showed that when government steps in and begins to regulate, market forces cease to work the way they were intended," said Enzi. "While I certainly appreciate and respect the attention of members in examining the energy markets, putting forward a legislative change at this time would be premature. Until we know exactly what happened with Enron some of the bills out there right now may do more harm than good. It's important that we consider the matter more thoroughly and evaluate what we've learned so that we can move forward in a reasonable manner."