Washington, D.C., August 30, 2005—The disruption to oil and gas operations off the coast of Louisiana by Hurricane Katrina this week has raised concern that the oil processing facilities in the rest of the country may be unable to maintain supplies, leading to dramatically higher gas prices. The threat of those price increases emphasizes the need to throw off government restrictions and disincentives to investment in new energy infrastructure. <?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />
“The damage that Hurricane Katrina might do to our nation's oil supply chain could cause gas prices to skyrocket in the near term,” said Myron Ebell, the Competitive Enterprise Institute’s Director of Global Warming & International Environmental Policy. “Katrina exposes the facts that our aging and inadequate energy infrastructure is stretched to the limit and that any disruptions will therefore cause major problems.”
“The American people should support long-term policies that will encourage the rebuilding and expansion of <?xml:namespace prefix = st1 ns = “urn:schemas-microsoft-com:office:smarttags” />America's energy supply system,” Ebell continued. “This is the opposite of the policies advocated by many environmental groups over the past three decades to restrict energy use, raise energy prices, and block access to energy resources.”
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