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NAM says amendment will lower energy prices and create jobs.

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May 9, 2008 - According to John Engler, NAM President and CEO, S.2958 amendment to Flood Insurance Bill S.2284 offered by Senator Mitch McConnell, would encourage environmentally responsible domestic energy production on Outer Continental Shelf and Arctic National Wildlife Refuge. It would also accelerate production of advanced energy technology and alternative resources such as renewable fuel. In contrast, bill introduced by Sen. Reid would impose onerous taxes, mandates, and regulations.

NAM Says Sen. McConnell's Amendment Will Lower Energy Prices And Create Jobs


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National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004
USA



Press release date: May 7, 2008

Calls Amendment "The Most Sensible Energy Strategy on the Table"

WASHINGTON, D.C., May 7, 2008 - The National Association of Manufacturers (NAM) welcomed the energy plan (S. 2958) offered today by Senator Mitch McConnell (R-KY) as an amendment to the Flood Insurance Bill (S. 2284) and expressed concerns about the bill offered by Senator Harry Reid (D-NV).

"The energy plan in Sen. McConnell's amendment will help to diversify our fuel, lower the cost of energy, create jobs and increase America's energy security," said NAM President and CEO John Engler. "It's an important step toward the comprehensive domestic energy policy that America needs for the long-term health of manufacturing and the economy."

Engler called Sen. McConnell's amendment "a sensible approach to America's critical energy needs." In contrast, a bill introduced today by Sen. Reid would impose onerous taxes, mandates and regulations. "That's not the way to reduce energy prices and create more jobs. This bill will have the unintended consequences of fewer jobs and higher energy and food costs," Engler said.

"Manufacturers welcome Sen. McConnell's amendment because it would encourage more environmentally-responsible domestic energy production on the Outer Continental Shelf and Arctic National Wildlife Refuge and accelerate the production of advanced energy technology and alternative resources such as renewable fuel," Engler said.

"Manufacturing is the most energy intensive sector of the economy. U.S. manufacturers are disproportionately affected by energy price instability and consume roughly one-third of our nation's available supplies. Rising energy prices threaten the well-being of all Americans - consumers and businesses alike," he continued.

"We appreciate Congress finally focusing on the energy crisis. The NAM will continue to work with Members of Congress to advance practical solutions to America's critical energy needs," Engler concluded.

The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM's award-winning web site at www.nam.org.

CONTACTS: LAURA NARVAIX (202) 637-3104 KEITH MCCOY (202) 637-3175
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