WASHINGTON D.C. — The Institute for Energy Research continues to be a driving force behind sensible, pro-growth energy policies. As Congress considers ways to end failed energy subsidies that waste taxpayer money while seeking new revenues to fill budget deficits, IER has provided a path forward with fact-based analysis and original research to promote North American energy security. In today’s release of the House Republican budget proposal, “A Path to Prosperity: A Responsible, Balanced Budget,” the House Budget Committee cites IER data to support a budget that “restores fairness” by ending a system that lets Washington “[pick] winners and losers through its tax and regulatory policy.
“The Institute for Energy Research exists to equip the American people with the facts, and we are committed to providing the research and analysis that sets the course for responsible energy policy. The degree to which this budget proposal, or any budget proposal, will offer a path to prosperity is tied to a realization of America’s vast economic opportunity and the domestic energy resources that make it possible,” IER Senior Vice President Daniel Kish noted.
IER was cited twice in the House Budget Committee proposal released today. The following are excerpts from the budget proposal:
“Many of the administration’s loan-guarantee projects have failed: Beyond Solyndra, the latest ill-fated ventures include a $737 million loan guarantee to Solar Reserve for a 110-megawatt solar tower on federal land in Nevada and a $337 million guarantee for Mesquite Solar 1 to develop a 150-megawatt solar plant in Arizona. Abound Solar, which received $400 million in loan guarantees, was cited by the Colorado Department of Public Health and Environment for hazardous waste left from their failed solar panels. Another bankrupt Department of Energy grant recipient, A123, intends to hand out as much as $4.2 million bonuses to top executives as company’s assets are sold off.” (Page 48)
“The economic benefits of expanding oil and gas development on federal lands are well documented: According to recent studies, 500,000 new jobs a year in high-wage, high-skill employment sectors, and GDP spill-over effects for $14.4 trillion in cumulative increased economic activity would be generated over the next 30 years. But the federal government is standing in the way.” (Page 49)
To read the entire FY2014 House Budget Resolution offered today by Chairman Paul Ryan (R-WI), click here.