House Energy/Tax Bills: Beyond Salvage

By August 2, 2007Energy, Taxation

The NAM sent a “Key Vote” letter up to the House today (text here) on the two energy-constricting, tax-increasing, jobs-destroying, what-are-they-thinking bills due for a floor vote tomorrow. Compound adjectives aside, these are terrible pieces of legislation that do nothing to increase energy supply — supply AND demand, remember? — and will serve mostly to raise the cost of energy. And expand government’s control and direction of the economy. The major points from the letter:

While we applaud Congress’ efforts to improve energy efficiency, expand alternatives and encourage conservation, we believe H.R. 3221 and H.R. 2776 fall far short of addressing our nation’s energy needs. In fact, we believe the bills, if enacted, would result in higher energy costs, fewer energy supplies, a weakened domestic energy industry and more job losses for U.S. factory workers.

We oppose provisions in H.R. 3221 and H.R. 2776 that would:

  • Roll back key improvements in domestic energy development, both onshore and offshore, contained in the Energy Policy Act of 2005;
  • Breach legitimate energy contracts between companies and the U.S. government;
  • Double the time it takes to get government approval for offshore energy projects;
  • Halt a leasing program for oil shale reserves on federal lands;
  • Bar production on federal lands (the Roan Plateau) in Colorado; and
  • Impose $16 billion in massive and punitive taxes on the oil/gas industry, increasing our dependence on foreign sources of energy at a time of international uncertainty.
  • The NAM will oppose any amendments that further restrict U.S. energy development, as well as amendments that call for federal renewable portfolio standard (RPS) mandates.

    The CQ brief and therefore free summary of the bill’s politics as of a couple hours ago is here.

    And to urge your House member to oppose these bills, please click here.

    Leave a Reply