H.R. 6, the energy bill now under debate in the U.S. Senate, has turned into a very bad piece of legislation, dirigisme at its worst. The bill shows little recognition of the importance of market forces or the need to expand domestic energy supply. Accordingly, the NAM issued a “Key Vote” letter today opposing the bill. An excerpt:
The NAM and our member companies have worked hard to improve the energy legislation that came to the floor last week. Unfortunately, we believe the legislation has progressively worsened and is now beyond repair. We oppose the Reid substitute for the following reasons:
It does virtually nothing to address our nation’s energy supply needs. It includes price controls/gouging schemes that interfere with normal market forces in addressing supply and demand imbalances. Its Corporate Average Fuel Economy standards are unworkable and technologically infeasible.
It’s one of our longer letters of the sort, representing the energy issue’s critical importance to manufacturers. The NAM wants a good bill, and we’re eager to work with members of Congress to achieve that aim. Unfortunately, right now the best way to accomplish that goal is to get rid of H.R. 6.
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