Barack Obama Hits the Right Points on Mining Bill

By November 7, 2007Energy

From The Associated Press:

RENO, Nev. (AP) – Democratic presidential hopeful Barack Obama opposes a federal mining reform bill because he says it would be too burdensome on the industry and could end up costing miners jobs in Nevada and other states.

The Illinois senator said Tuesday that he favors efforts to update an 1872 mining law and will work with Senate Majority Leader Harry Reid, D-Nev., to find a compromise between environmental protection and a healthy mining industry.

We couldn’t agree more. Good for Senator Obama for calling the issue as he sees it (and risking the political support of some green absolutists in the process).

It’s also important to note that the burdens of H.R. 2262, the Hardrock Mining and Reclamation Act, will hit more than the mining industry alone. With excessive new royalties, taxes and limitations on public lands, the legislation will increase the costs of raw materials for manufacturers and eventually U.S. consumers. (NAM release here.)

Reid says the House bill will not stand in the Senate, and if so, good. And thanks to Senator Obama for sticking up for jobs and industry — and U.S. competitiveness, too.

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