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How Higher Energy Costs Slow our Economy

This week, House Republicans continue their “sit-in” on Capitol Hill, calling on Speaker of the House Nancy Pelosi to return to Washington to permit a vote on more domestic energy production.  According to Representative Mike Pence (R-Ind.), the reason Republicans are doing this is because Congress shouldn’t take a five week paid vacation when Americans can’t take a vacation from gas prices.  “When the world sees America is serious about energy, the markets will respond and we will decrease dependence on foreign oil,” added Representative Bill Shuster (R-Penn.).

And while the energy debate ramps up here at home, some on the international stage are calling for energy policies that could cripple the U.S. and world economies.

In response to last month’s G8 Summit, Myron Ebell, Director of Global Warming and Energy Policy for the Competitive Enterprise Institute, responded to news that at least a 50 percent reduction in carbon emissions by 2050 is part of a hoped-for worldwide agreement by saying, “Any international agreement that would impose mandatory energy rationing on all the major economies, including the big developing countries -- such as China, India, Brazil -- and the United States, would torpedo world economic growth.  It would make the anemic economic growth of European Union and Japan look robust.  Most importantly, a no-growth world economy that would consign billions of people to perpetual energy poverty is not acceptable.”

Recently, Mr. Ebell joined Renee Giachino, CFIF’s Corporate Counsel and Senior Vice President, to discuss U.S. energy policy, expanded oil and gas exploration and drilling.

What follows is the interview originally heard on "Your Turn - Meeting Nonsense With Commonsense" on WEBY 1330 AM, Northwest Florida's talk radio…[Listen to the interview here.]

[Posted August 14, 2008]

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