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API statement on Senate climate bill hearing

WASHINGTON, October 27, 2009 –The American Petroleum Institute issued the following statement today from President Jack Gerard on the Kerry-Boxer climate bill hearing:

“Like the House climate change bill, the Senate’s Kerry-Boxer bill would hurt our economy by killing American jobs, increasing energy costs and undermining our nation’s energy security.

“The cost of Kerry-Boxer is even more than the House bill, and punishes consumers and businesses that depend on transportation fuels. Anyone who drives, rides a bus, flies on an airplane or ships goods to market is likely to see their costs rise. An analysis of the House bill by the federal government’s Energy Information Administration said it could push gasoline prices above $5 a gallon and diesel prices above $5.60 a gallon.

“Using a flawed EPA analysis of the House bill, proponents argue Kerry-Boxer will only cost Americans 30 cents a day. The truth is, according to the Energy Information Administration, total costs for the average U.S. household could increase up to $1,870 in 2030.

“The Kerry-Boxer bill is a giant tax that could kill more than 2 million net jobs, even after accounting for the creation of green jobs, according to multiple studies. With our economy struggling to recover from a historical recession, now is not the time to enact job-killing legislation.            

“The Kerry-Boxer bill would undermine America’s energy security. Under the bill, many refining and related jobs would likely move offshore to countries that have lower costs because they do not have similar climate change laws. Americans would be more dependent on foreign sources of gasoline and other refined products. More than 9 million Americans depend on the oil and natural gas industry for their jobs. We should not be sending any of these jobs overseas.”

Updated: October 27, 2009
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