CEI Comment on Obama Address to Congress

CEI Comment on Obama Address
to Congress

Read Commentary on Economy, Energy,
Environment, and More

D.C., February 24, 2009—As
President Obama prepares to deliver his first formal address to Congress as
President, experts at the Competitive Enterprise Institute cautioned against
elements of the President’s plans with respect to the energy, the environment,
the economy, and other issues.

Statement by Myron Ebell, CEI Director of
Energy and Global Warming Policy:

While President Obama focuses on
short-term economic recovery, he proposes long-term energy and global warming
policies that will lead to economic decline. Federal subsidies for
"green" jobs and mandates for renewable energy will raise energy
prices and thereby suck money out of people’s pockets and jobs out of

But President Obama’s green jobs
fantasy is only the beginning of the bad news he has in store for American
consumers, workers, and taxpayers. He is also urging Congress to enact a
cap-and-trade scheme to reduce greenhouse gas emissions. Cap-and-trade is
another name for energy rationing. It is a sneaky tax that will benefit some
big business special interests by raising people’s electricity, gasoline, and
heating bills through the roof. It should not be a surprise that many big
corporate CEOs support President Obama’s energy rationing policies. They stand
to make huge profits, so why should they care what sharply higher energy prices
will do to working American families struggling to pay their bills?

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