FOR IMMEDIATE RELEASE
March 11, 2009
Laura Henderson (202) 621-2951
IER: There May Be No Free Lunch, But There is a Free Stimulus
Domestic energy development would create jobs and government revenue at no cost to the taxpayer
WASHINGTON, D.C. – Institute for Energy Research (IER) president Thomas J. Pyle today issued the following statement after lawmakers introduced a proposal that would provide an immediate shot in the arm to the American economy at no cost to the taxpayer:
“The best and most cost-effective way for the government to invigorate our economy is to allow businesses to responsibly develop our massive and homegrown energy resource base. If the private sector could explore for and produce American energy for American consumers, we would gain access to millions of new jobs and billions in new revenue for the taxpayer—both of which we desperately need in this economy.
“America’s energy resources can do more than just fuel our cars and heat our homes, they can also help power the engine of our economic recovery—without requiring the government to write more checks that the Treasury can’t cash. Though this Administration has given every indication that it plans to make domestic exploration as difficult and expensive as possible, we hope that proposals such as this one will remind the Administration and taxpayers alike just how important our energy industry is to the economy.”
More from IER on the current trends in energy policy:
- Blog Posting: President Obama’s Budget Includes the Largest Tax Increase in History
- Press Release: Interior Decision Locks American Energy Resource Larger than Middle East Reserves
- Press Release: IER Debunks Offshore Energy Production Myths
- IER Study: Green Jobs: Fact or Fiction?
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.