Broun's Briefings

Press Release

This Week: Georgia is one of the three hardest hit states by high gas prices; Treasury Secretary Paulson has his hand out for $700 billion of your money; Oglethorpe Power Corporation is bringing more jobs and more power to Georgia.

Fragile Infrastructure Leads to Low Supply and High Prices

While the refineries on the Gulf Coast restart, there is a serious fuel shortage in the state of Georgia. In fact, Georgia is one of the three hardest hit states by high gas prices and even the availability of gas.

As of today, Georgia, Alaska, and Hawaii have the highest gas prices. The average price for gas in Georgia is $3.90 per gallon, and the average price in Atlanta area is $4.07 per gallon.

As the greatest country on Earth, America's energy supply should not be so easily crippled. There are not nearly enough refineries in this country because Democrats and radical environmentalists have not allowed a new refinery to be built in decades.

America has enough oil and gas to supply all of our needs. We have the technology to pursue nuclear, clean coal, and energy alternatives. Right now, there is a bill in Congress - the American Energy Act- that would be an all-of-the-above solution to America's energy needs.

But Nancy Pelosi won't even allow a vote on the American Energy Act, even though it has bi-partisan support.

The political games that Pelosi and the radical liberals are playing are hurting the poor, the elderly, school systems, and the economy. If you want to know who is actively hurting the American people and our economy, look no further than the current Speaker of the House of Representatives, Nancy Pelosi and the Democrat-controlled Congress.

Another Example of Socialism Gone Awry

On October 12, 1977, President Carter and the Democrat controlled Congress pushed the Community Re-investment Act through Congress. This act forced many banks to approve home loans to otherwise unqualified borrowers. In 1995, Bill Clinton then restructured the CRA and drastically increased the amount of CRA-regulated loans and allowed subprime loans to be securitized (traded on Wall Street). Those banks who were bullied, then sought comfort in the insurance and guarantees offered by Fannie Mae and Freddie Mac.

The government pushed subprime loans through force (CRA regulations) and incentive (Freddie and Fannie's purchase, securitization, and insurance of the bad bank loans). But the government had no business ever getting involved in the private housing market!

The government has already given public tax-dollars to bailout subprime lenders, Freddie Mac, Fannie Mae, and several Wall Street security banks. Now, Congress is debating a possible $700 billion check to continue bailouts.

Make no mistake, this plan of action gets the government heavily involved in the private housing market and is the equivalent of socialism.

I am extremely skeptical about the federal government nationalizing a huge section of our financial services. We have to ensure that our economy is strong and that we create much-needed jobs. I am working to be certain that whatever Congress does in this financial crisis is in the best interest - both short and long term - for America.

Socialism has never worked and will not work. We must look to the private sector, with very little government intervention in that sector, for solutions to almost all problems that we face. I will be looking for solutions to our financial crisis that will not put taxpayers on the hook and will not borrow from our children and grandchildren.

More Jobs and More Power for Georgia

Oglethorpe Power Corporation, the country's largest power supply cooperative, has decided to build three new biomass electric facilities in Georgia. These facilities will help supply electricity to nearly half of Georgia's population.

According to OPC, these plants will bring nearly 1000 jobs to Georgia, will provide growth for our economy, and will provide the electricity that Georgians will need far into the future.

I am excited to see OPC grow, and I hope other providers across America will look to this corporation as a model of environmentally responsible energy.

Georgia has an enormous supply of biomass and OPC is taking advantage of these resources to expand the use of alternative, renewable energy.

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