FOR IMMEDIATE RELEASE
February 13, 2009
Laura Henderson (202) 621-2951
IER to Stimulus: We’re Watching You
IER Unveils New Website to Monitor Taxpayer Return on Massive Government Spending Bill
Washington, D.C. – Institute for Energy Research (IER) President Thomas J. Pyle today issued the following statement on the American Recovery and Reinvestment Act of 2009, President Obama’s massive $789 billion spending bill:
“It is disappointing that Congress today forced taxpayers to ante up $789 billion for a massive government spending bill that few people have seen. Aside from meager press reports, the American people have no idea what projects are included in the final measure even though taxpayers are footing the bill for it. This action represents a true missed opportunity; a nation in economic crisis deserves a thoughtful legislative process to find the least expensive ways to effectively stimulate economic growth, such allowing access to the jobs, government revenues, and cheaper energy costs that increased exploration of domestic energy resources would provide.
“Instead, the few projects we have seen engender very little hope for economic improvement, despite their high price tag. Our research shows that both green jobs and electricity decoupling are likely to lead to increased energy costs, higher taxes, and job losses – not economic stimulation.
“Though it has been difficult to nail down exactly what taxpayers will get for their $789 billion, IER will continue to scour the bill to bring the bill’s unknown provisions to light. IER’s Stimulus Watch Website will monitor the outcomes of the bill’s energy provisions and explain their affects on our economy, the cost to taxpayers and the cost of energy used to heat our homes and run our businesses.”
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.