Chamber Applauds House Passage of Energy Plan

WASHINGTON, D.C. — The United States Chamber of Commerce today applauded the House passage of a comprehensive energy plan that is vital to America's national security and future economic growth.

"This is a huge step forward for American businesses faced with historic energy costs," said Thomas Donohue, Chamber President and CEO. "A national energy plan will help refuel our economy and ensure affordable and reliable energy supplies for America's future."

The Energy Policy Act of 2003 (H.R. 6) promotes a forward-looking, market-based national energy strategy, including improved energy efficiency and conservation; increased energy supplies and generation to meet demand; expansion and modernization of the energy infrastructure; incentives for investment in new technologies; and assistance to America's most vulnerable families, according to the Chamber.

Recent spikes in energy prices serve as a reminder that our nation still needs a balanced plan to meet the energy demands of a dynamic American economy. The unprecedented growth of America's economy over the past quarter century has rapidly outpaced our ability to develop and deliver the resources our nation needs to sustain this economic growth.

By 2025, the Energy Information Administration estimates that the U.S. will need 43% more energy, including 47% more petroleum, 54% more natural gas, 34% more coal, 54% more electricity, and 65% more renewable energy — just to meet the energy needs of a growing economy and growing population.

"For American business, workers and consumers, our nation's limited capacity to meet growing energy demand has been ignored too long," Donohue said.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

# # #

03-68