Here are a couple of informative commentaries on the proposed Senate energy bill, S.14, from a conservative perspective. The Senate Republican Conference offers this summary, and Charli Coon at the Heritage Foundation offers this analysis.
DISCLAIMER: I do not necessarily agree with the contents of these commentaries; in particular, I think Titles VIII and IX (on hydrogen and on R&D) will have particularly distortionary consequences and leave us with a less resilient economy than we would otherwise have. Obviously the Senate Republican Conference is not going to say that! And on ANWR, I would actually argue that we should privatize federal lands, so these sorts of decisions would be made with less political motivation. Analytically speaking, the amount of oil in ANWR is a drop in the bathtub, but if the residents, naturalists, and oil companies can achieve a mutually beneficial expectation of a value proposition, who am I (or who are you folks in Congress) to stop them?