Fossil Fuels Still Essential for Economic Survival

By August 6, 2007Energy

For a piece written before the House’s passage Saturday of the two anti-energy bills, NAM President John Engler’s op-ed in today’s Investor’s Business Daily remains sharply topical.

Congress focused some welcome attention on America’s energy security this summer, but its emphasis was largely misplaced.

We all applaud investing in the research and development of new long-term energy sources such as wind and solar power.

For the short term, however, there must be an equally serious commitment to the development of additional proven energy sources such as natural gas and oil if we ever hope to return to reasonable energy prices in this country.

In addition to energy issues, the Governor highlights the 31.7 percent cost disadvantage companies face in the United States compared to our competitors, issues detailed in the study, The Escalating Cost Crisis.

Passage on Saturday of the two bills to raise taxes and discourage domestic energy supplies showed Congress heading down the wrong path, only adding to those cost disadvantages.

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