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NTU endorses the "American Energy Renaissance Act," S. 2170 and H.R. 4286
March 28, 2014
Dear Senator Cruz and Congressman Bridenstine:
On behalf of the 362,000 members of National Taxpayers Union (NTU), I write to endorse the “American Energy Renaissance Act,” S. 2170 and H.R. 4286 in the Senate and House, respectively. This legislation would spur economic growth by increasing energy production and jobs while reducing the national debt.
In his 2014 State of the Union address, President Obama correctly stated that “…one of the biggest factors in bringing more jobs back is our commitment to American energy.” However, as more of our resources have become technologically accessible over the past decade, the regulatory stranglehold on particular sectors of the energy industry has also increased dramatically. By addressing a broad swath of the challenges restricting energy producers, S. 2170/H.R. 4286 clears excessive Washington red tape out of the way of a true “all of the above” energy renaissance.
Specifically, the legislation would streamline the cumbersome permitting thicket that hinders the energy infrastructure we need to move and process energy products. Reining in burdensome regulations would ensure our coal resources remain part of a reliable, low-cost energy profile. Increasing energy production on federal land and on the Outer Continental Shelf would likewise boost vital crude oil supplies. Expanding liquefied natural gas exports and ending the crude oil export ban would ensure the economic activity needed to maintain a thriving energy industry, which in turn helps to deliver debt-reducing revenues without punitive increases in tax rates. Together, these measures would not only boost employment opportunities, but also bring down high energy prices - making everything from transportation to heating costs to food more affordable for American families and businesses.
The Renewable Fuel Standard is a telling example of just how far-reaching a singular energy policy can be into other sectors of the economy. The corn ethanol mandate has created massive market distortions, decreased fuel economy, ruined small engines, and escalated food insecurity. Your legislation would wisely phase out this harmful policy, thus creating a level playing field and relieving economic pressure on everyone from food producers to families.
As consumers and taxpayers continue to suffer from the fallout of stubbornly high unemployment and a struggling economy, Congress should move forward to unleash the energy potential that could be the key to future prosperity. NTU is pleased to endorse the “American Energy Renaissance Act” and urges all Members of Congress to cosponsor this legislation.Sincerely,Nan SwiftFederal Affairs Manager