Washington, D.C. – U.S. Representative Charles W. Boustany, Jr., (R-Southwest Louisiana), today voted against legislation that would hamper our domestic supply of energy, raise taxes, and lead to higher energy prices for Southwest Louisiana.

 

“A purported energy bill without any potential to increase our domestic energy production is simply ridiculous and reeks of politics,” Boustany said. “There is no silver bullet to solve our energy crisis, but one element of the solution must be an increase in our production at home to help stabilize the price at the pump and to lessen our dependence on foreign sources of energy.”

 

The Democratic bill, H.R. 6, imposes $21 billion in new taxes on energy producers, requires 15% of electric power to be produced by a limited list of renewable sources, picks winners and losers in the biofuel industry that would stifle innovation and reduces access to domestic production of oil and gas. House Speaker Nancy Pelosi (D-San Francisco) struck a deal with environmental groups to move the legislation forward before it was reviewed by any congressional committee.

 

According to a study conducted by CRA International, an economic consulting organization, many of the provisions in H.R. 6 would limit supply, drive prices higher, and damage the U.S. economy, resulting in a loss of 4.9 million American jobs. New requirements on electric power producers adversely harm Southern states including Louisiana because renewable sources of electricity are not readily available.  This lack of support will lead to higher electric prices, crippling industry across the region. In addition, the bill would limit current production of oil and gas, creating even more speculation in the market and fluctuation at the pump. Higher taxes and more regulation on the oil and gas industry will impact thousands of families across Southwest Louisiana.

 

“America faces an energy crisis that cannot be solved by more government bureaucracy. We must increase our domestic production in a responsible way to stabilize prices, decrease our dependence on foreign sources, and promote continued economic growth in Southwest Louisiana and across the country,” Boustany concluded.