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2003 Ron Paul Chapter 118

Not linked on Ron Paul’s Congressional website.

Congressional Record [.PDF]

Best Energy Policy Is The Free Market
18 November 2003

2003 Ron Paul 118:1
Mr. PAUL. Mr. Speaker, today we are once again voting to take our Nation further down the path toward a system of centralized Federal planning of our energy supply. The very notion of a national energy policy is collectivist; it assumes that an energy supply would not exist without a government plan. Yet basic economics teaches us that nothing could be further from the truth.

2003 Ron Paul 118:2
The best energy policy is the free market! Energy is no different than any other commodity — free market, competition produces the most efficient allocation of resources. In a true free market, conservation of scarce energy resources occurs naturally. When coal, natural gas, or other nonrenewable sources are depleted, the price goes up. When alternative energy sources like wind and solar become economically feasible, demand for such sources arises naturally. There is always a natural market for clean and cheap energy. Only an unregulated free market creates the environment that allows critical technological innovation to flourish, innovation that holds the key to cheaper and cleaner energy.

2003 Ron Paul 118:3
The approach we take today, however, distorts the market and favors certain industries and companies at the expense of American taxpayers.

2003 Ron Paul 118:4
It’s always the same old story in Washington: instead of allowing the free market to work, Congress regulates, subsidizes, and taxes an industry, and when inevitable problems arise, the free market is blamed! The solution is always more Federal intervention; no one suggests that too much Federal involvement created the problems in the first place.

2003 Ron Paul 118:5
Let me provide just a few examples of the most egregious, wasteful spending measures and corporate subsidies contained in this legislation: It spends even more than the President requested; it provides $90 million in subsidies for hydroelectric power plants; it provides $500 million for research and development of Biomass; it authorizes almost $2 billion for the Energy Department to do what the private sector would if it was profitable — develop hydrogen cars; it allows FERC to use eminent domain to ride roughshod over State and local governments; it increases failed ethanol subsidies to favored agribusiness companies, while providing liability protection for those companies; it requires States to reduce energy consumption by 25 percent in 2010, including States with growing populations like Texas; it forces taxpayers to guarantee loans for pipeline projects, despite the easy availability of cheap credit; it spends $20 million for the Labor Department to recruit and train Alaskan employees to build a new pipeline; and it authorizes the Energy Department to create efficiency standards for vending machines!

2003 Ron Paul 118:6
Mr. Speaker, this conference report represents the usual pork, subsidies, protectionism, and regulations that already distort our energy markets. I strongly urge my colleagues to vote “no” on this terrible bill.



















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