Cato Scholar Comments on New Energy Bill

Wednesday, December 19, 2007

Jerry Taylor, senior fellow:

The energy bill to be signed by the president today is arguably the worst piece of energy legislation ever enacted into law. It will substantially increase the price of automobiles, increase highway fatalities, increase fuel prices, worsen air pollution, and force consumers to buy products (like super-efficient light bulbs) that they manifestly -- and for very good reason -- do not want to buy. It will transfer huge amounts of wealth from the consumer to the farm lobby in the course of promoting a dubious product -- ethanol -- that will make energy supplies less reliable and greenhouse gas emission higher than necessary.

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