FOR IMMEDIATE RELEASE – January 29, 2009 Contact: Megan Barnett
WASHINGTON, D.C. — Karen Harbert, president and CEO of the U.S. Chamber’s Institute for 21st Century Energy, today made the following statement on the energy provisions of the economic stimulus package being debated in Congress this week.
“The availability of reliable, affordable, and abundant energy supplies is vital to economic growth and must be a key component of any plan to boost economic activity. However, the $819 billion stimulus bill passed by the House of Representatives last night includes less than 8 percent in direct spending for energy and energy-related infrastructure projects. And according to the government’s own analysis in a Congressional Budget Office report this week, the bill’s clean energy provisions could take seven years or more to be spent.”
“Our economy needs a shot in the arm as quickly as possible. The U.S. Senate has an opportunity to pass prudent legislation to jumpstart job creation, credit market lending, and construction of new infrastructure.
“We are encouraged by the Senate Appropriations Committee’s inclusion yesterday of more than $50 billion for loans guaranteed by the government for nuclear, clean coal, renewable, and other clean energy projects. Programs like this give businesses assurances to make robust investments that will keep energy flowing and America secure for decades to come.”
“Certain other energy provisions must be considered to do this, including accelerating leases for energy production off our coasts, which the Secretary of Interior acknowledged yesterday should be part of a comprehensive energy plan. A recent study by ICF International found that developing offshore areas previously under moratoria would yield more than 75,000 jobs and hundreds of billions of dollars in royalty revenue. In addition, funding for efficiency grants in the stimulus package should be conditioned on a state’s adoption of building codes that emphasize energy efficiency, consistent with federally certified model codes.”
The Chamber recently sent a letter to all Members of Congress on key energy priorities for the economic stimulus. This letter is available at uschamber.com
The mission of the U.S. Chamber of Commerce Institute for 21st Century Energy is to unify policymakers, regulators, business leaders, and the American public behind a common sense energy strategy to help keep America secure, prosperous, and clean. Through policy development, education, and advocacy, the Institute is building support for meaningful energy action at the local, state, national, and international levels. To read more about the U.S. Chamber’s Institute for 21st Century Energy, visit https://www.globalenergyinstitute.org.
The U.S. Chamber is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.