By EPW Blog ——Bio and Archives--March 11, 2011
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[EPA and NHTSA] have harmonized many elements of program design, such as the form of the standard (the footprint-based attribute curves), and the definitions used for cars and trucks...Given the common technical issues before each agency, the similarity of the factors each agency is to consider and balance, and the authority of each agency to take into consideration the standards of the other agency, both EPA and NHTSA are establishing standards that result in a harmonized National ProgramIf anything, EPA's cap-and-trade agenda-designed to make fossil fuels more expensive - will result in higher gas prices. How? By restricting supply. Take the example of Lion Oil. Vice President Steve Cousins recently testified before the House Energy and Commerce Committee that his company began a major $2 million expansion of its El Dorado refinery in 2007, with 2,000 construction jobs, but its completion has since been stalled. As Cousins explained, "The uncertainty and potentially prohibitive costs associated with possible cap-and-trade legislation and EPA's greenhouse gas regulations were a critical factor leading us to delay the completion of the expansion." Cousins also testified in 2009 that cap-and-trade legislation would have forced his company out of business. He sees the same threat looming at EPA:
It is our fear that left unchecked, EPA will use the Clean Air Act to drive to exactly the same goals as the defeated cap-and-trade legislation that Congress so wisely chose not to pass. And in that pursuit, EPA will inflict the same damage on our company and our nation's economy.In today's press conference, President Obama said that we "need to continue to boost domestic production of oil and gas" to make sure that Americans are not overwhelmed by rising gas prices. Mr. President, take an important first step: support the Energy Tax Prevention Act.
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