Congressional Action Raises Price of Energy
WASHINGTON, D.C. – Today, Americans for Tax Reform (ATR) called on Congress to not interfere with energy production by releasing a chart illustrating the correlation between Congressional action and high energy costs.
ATR President Grover Norquist said, “This isn’t rocket science. When Congress meddles in the free market, the consumers lose every time. When they tried to limit energy investments and tax energy, prices increased. When they did nothing and allowed the bans on drilling to expire and didn’t raise taxes on energy, a shocking thing happened, prices dropped.”
ATR is urging all Senators to oppose Sen. Reid’s $10 billion Omnibus Lands Bill as it makes 300 million barrels of oil and 8.8 trillion cubic feet of natural gas unavailable.
The below graph can be found at http://www.atr.org/content/pdf/2008/nov/110508ot-congress_energycosts.pdf.