Congressional Energy Legislation May Worsen Supplies
With the House and Senate moving forward to resolve differences in energy bills passed by each body, a group of 234 prominent economists have warned Congress that:
“More taxes, regulations, and subsidies will harm, not help, American energy policy.”
The National Taxpayers Union organized the joint statement by the economists who wrote to tell Congress they:
“"strongly advise against the inclusion of damaging anti-market provisions in the energy bills moving through Congress . . .History has shown that attempts by the federal government to tax, regulate, and subsidize our way to more plentiful and secure energy have failed miserably.”
Will the political elite in Congress put politics above history? If we had to bet, our guess would be that, unfortunately, supplies will worsen and prices will rise.