NAM criticizes alleged price gouging bill as "insincere and pandering"
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Manufacturing News, Source : The Manufacturer US
Published : 24 May 2007 0:54
WASHINGTON, D.C., May 23, 2007 – National Association of Manufacturers President John Engler (NAM) today criticized the U.S. House of Representatives’ bill on alleged “price gouging” as insincere and pandering to the lowest common denominator, “devoid of substance or constructive measures to ease high energy prices and correct supply shortages.
“History has demonstrated that price controls and allocations simply do not work,” Engler continued. “The U.S. is faced with some of the highest energy cost in the world and our elected officials decide to scapegoat American industry instead of fixing the problem.
“The rules of supply and demand are indisputably simple,” Engler said. “But, faced with convoluted political realities, America’s energy policy falls far short of common sense. Rather than focusing on ill-advised price control policies, policymakers should set their sights on enhancing America’s energy security”
The Federal Price Gouging Protection Act passed by a 284-141 vote. NAM praised House Agriculture Committee Chairman Collin Peterson (D-MN-7), as the lone Democrat to oppose the legislation.
The NAM advocates diversifying and expanding America’s domestic energy supply. This includes increased production of all types of energy, improved energy efficiency, more research on technology and alternative energy, increased access to domestic sources with continued environmental protections, and improved distribution.
“The NAM’s comprehensive Energy Security for American Competitiveness legislation provides an excellent framework from which to begin this critical effort,” Engler added.
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