Posted: 04/21/2005
Energy Bill is a Good First Step
NCPA E-Team Scholars Say Plan Is Much Improved From Earlier Versions
DALLAS (April 18, 2005) – The bipartisan energy bill passed by the House Energy and Commerce Committee should reduce U.S. dependence on foreign sources of energy, according to scholars with the NCPA’s E-Team project.
“This bill is a good first step in the right direction,” said NCPA Senior Fellow H. Sterling Burnett. “Many of the egregious, market-distorting subsidies are removed or reduced, making it much less expensive and more in line with budget realities.”
The bill also could reduce fuel prices over time by improving America’s energy infrastructure, according to Dr. Burnett, laying the foundation for economic growth by reducing the chance for future supply disruptions by:
- Streamlining the permit process to increase refining capacity and capping the number of regional “boutique” fuels.
- Permitting and expediting new oil and gas exploration and development on public lands.
- Streamlining the process for re-licensing and developing new nuclear and hydropower production.
- Providing incentives for expanding the nation’s electricity grid, which should reduce the chance of black-outs.
Reports say the bill should easily pass the House, but may face opposition in the Senate because it includes a waiver against MTBE liability lawsuits. MTBE is a gasoline additive of a type required by Congress nearly two decades ago.
“MTBE alone should not kill this bill,” Dr. Burnett added. “It includes too many other critical needs, like expanded oil and gas exploration, energy infrastructure improvements and reduced regulation.”