Friday, April 24, 2009
Laura Henderson (202) 621-2951

ACT IV: Waxman Week-Long Cap-and-Trade Carnival
Comes to an End

WASHINGTON – Institute for Energy Research (IER) president Thomas J. Pyle issued the following statement today as the Waxman cap-and-trade parade reached its final turn today, wrapping up the proceedings with testimony from former vice president Al Gore and former House speaker Newt Gingrich:

“The rest of the U.S. House may have today off, but the coordinated campaign to restrict, ration and raise the price of affordable energy observes no vacation. Today we’ll see the full pageantry of that effort on display, culminating in the testimony of Vice President Gore and former Sen. John Warner, co-author of a bill last year that, by some estimates, would’ve bled $5 trillion from the American economy, and imposed a tax of more than $6,700 each year on every American family.

“Four days, nearly 12 hours, and more than 65 witnesses later, many of the questions Americans had on cap-and-trade’s costs, benefits and implementation remain many of the issues unaddressed by these panels. As we’re often reminded, activity is a very different thing from achievement. And it’s not entirely clear these hearings achieved a single substantive thing this week – beyond creating the illusion that Congress was having a full, honest debate on America’s energy and economic future.”

More from IER on carbon regulation:

The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the well-being of individuals and society.


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