(Alexandria, Va.) -- At a time when most of the energy proposals coming from Capitol Hill involve increased taxes and regulations on some industries and subsidies for others, President Bush's support of ending government restrictions on the development of domestic energy supplies is a step in the right direction for the nation's energy policy. That's the assessment of the 362,000-member National Taxpayers Union (NTU), which today announced its support of the President?s plan.
"While the search for the energy technologies of tomorrow continues, oil and gas will remain a staple for the foreseeable future," NTU Government Affairs Manager Andrew Moylan said. "Ending the policies that prevent us from exploring domestic energy supplies -- both on and offshore -- will allow America to produce more oil and help alleviate the fundamental imbalance between supply and demand."
Much of the factors leading to current energy prices are outside the control of the federal government, Moylan noted. However, the extent to which we allow domestic companies to explore for energy is very much within our control. Ending these costly restrictions would have the benefit of providing a steady stream of oil supply, thereby helping to calm market volatility.
Moylan added that domestic energy exploration is possible without creating major environmental hazards. The nation's offshore areas where there currently is not a drilling moratorium, such as portions of the Gulf of Mexico, did not experience any oil spills or significant environmental problems after being struck by Hurricane Katrina, a Category 5 storm.
"The time has come for Congressional leaders to abandon their costly opposition to expanding American energy supplies," Moylan concluded. "Rather than recycling the failed, tax-and-spend schemes of the past three decades, Congress should embrace the sound energy policies outlined by the President."
NTU is a nonpartisan, nonprofit citizen organization founded in 1969 to work for lower taxes, smaller government, and economic freedom at all levels. Note: For more information on NTU's energy policy, visit www.ntu.org.