Issue of Climate Change should be Logical and Balanced
Press Release
Issue of Climate Change should be Logical and Balanced
A recent study by ICF and the American Petroleum Institute (API) have proven that climate change legislation (S. 2191, the Lieberman-Warner cap-and-trade climate bill) currently pending in Congress could actually significantly reduce clean-burning natural gas production and outsource refining jobs overseas.
"At a time when gas prices are getting higher by the day and our nation needs more domestic supplies of energy sources, it is essential that Congress take any and all legislation brought to the floor on this issue seriously," said U.S. Representative Mike Conaway (TX-11). "Congress must take a balanced and logical approach to energy and climate change policy to protect consumers from further price escalations."
While the study did not look at the direct impact of the bill on consumers, the EIA said the bill would "increase energy prices and energy bills for consumers" and "increase the cost of using energy, which reduces real economic output, reduces purchasing power, and lowers aggregate demand for goods and services."
The U.S. oil and natural gas industry has been addressing the issue of climate change through investments in alternative energy and emission improvement technologies, as well as through energy efficiency operations within the oil and natural gas industry. In fact, they invested about $42 billion in greenhouse gas emission improvement technologies from 2000 to 2006, representing 45 percent of the almost $94 billion spent on these technologies by all U.S. industries and the federal government.
Conaway went on to say, "It is important that the American public realize the hard work that is being done by oil and gas companies to combat our nation's energy crisis. For years, America's oil and gas companies of all sizes have been leading the way in researching alternative energy technologies, all while continuing to provide traditional energy domestically. We should not allow these companies to be maligned during this energy crisis, but instead applaud them for their dedication to finding alternative sources of energy for the future of our country."
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