FOR IMMEDIATE RELEASE
July 7, 2009
Laura Henderson, 202.621.2951
Patrick Creighton, 202.621.2947
Senate Global Warming Hearings Present Opportunity to Refocus Debate on Lowering Energy Costs, Creating Jobs
Cap-and-trade will kill jobs, make Americans less secure
WASHINGTON – This week, several committees of the U.S. Senate — including the Environment and Public Works, Finance, and Foreign Relations panels — will convene hearings with key administration officials, outside experts, and governors from states that stand to be hardest hit if a nationwide, one-size-fits-all cap-and-trade regime becomes law. In advance of those proceedings, Thomas J. Pyle, president of the Institute for Energy Research (IER), issued the following statement:
“The Senate is known as the ‘cooling saucer’ of democracy – a reputation we hope will prevail against those who would rather see it used as a ‘rubber stamp’ for harmful carbon regulating policies. Make no mistake: The scope and breadth of the expansion of government envisioned under a cap and trade regime is unprecedented. And the speed with which it has advanced through the House is equally exceptional. Thankfully, the Senate has an opportunity to slow down this runaway train before it barrels over the American economy – hopefully long enough to allow the American people to take a closer look at its contents.
“Rationing and restricting reliable American energy sources – such as coal, oil, nuclear, and natural gas – and subsidizing expensive and unreliable energy forms will weaken our position in the increasingly competitive global marketplace. And higher energy costs will only prolong this current economic downturn. With hope, the Senate will consider ideas that lead to producing more American energy, driving down costs, and creating good jobs. These goals are anathematic to the House approach.”
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.