WASHINGTON, D.C.—Karen Harbert, president and CEO of the U.S. Chamber’s Institute for 21st Century Energy, issued the following statement today in response to President Obama’s remarks on energy security:“In his speech today, the president expressed a desire ‘to control our energy future’—a disturbing prescription for our nation, which amounts to a command-and-control approach that stifles the very private sector that it depends upon.“The president’s plan leaves American jobs, growth, and security hanging in the balance. The Administration’s policy embraces arcane regulatory processes, restricts domestic exploration and production, and delays needed nuclear, advanced coal, and renewable energy projects, pipelines, and transmission lines. For example, it proposes further study of the nation’s abundant natural gas rather than employing these resources for our economic recovery. The signal coming through loud and clear to the private sector is to take your capital elsewhere.“Much of what the president said today, particularly in the area of oil and gas development, exhibits a fundamental lack of understanding of how industry works. For instance, the president is advancing the highly misleading notion that America’s oil and gas companies are sitting on a large number of ‘unused’ leases. In most cases, these ‘unused’ leases are awaiting permitting and environmental reviews before exploration and production can occur. And ironically, the increase in oil production the president pointed to came as a result of lease decisions that encouraged new production made under the previous administration.“There are real policy implications to this rhetoric. The administration has indicated that it is considering shortening the length of leases and placing punitive fines on companies that don’t rush the exploration process. It is precisely this type of counterproductive action that will drive energy companies out of America and leave us even more dependent on oil from unstable regions of the world. However, it was heartening to hear the president recognize Canada as a real energy partner with tremendous potential.“On electricity, the president’s proposal for an 80 percent clean energy standard requires a series of mandates and regulations that will have real impacts on our economy. A standard such as the one the president has suggested will virtually eliminate coal from our electricity mix, even though today it is our largest source of power. “Last week the president urged Brazil to produce their offshore resources and sell to the United States. What America needs instead is a plan that makes us more self-reliant and secure. Had the administration followed the Institute’s Blueprint for Securing America’s Energy Future that we delivered to the president-elect in September 2008, our energy future would be on a much better track today.”
The mission of the U.S. Chamber of Commerce's 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 action at the local, state, national, and international levels.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.