WASHINGTON – The Federal Price Gouging Protection Act, which passed by a 284-141 vote, was criticized on Wednesday by John Engler, the President of the National Association of Manufacturers (NAM), as “devoid of substance or constructive measures to ease high energy prices and correct supply shortages.”
The NAM praised House Agriculture Committee Chairman, Collin Peterson (D-MN-7), as the lone Democrat to oppose the legislation.
“History has demonstrated that price controls and allocations simply do not work,” Engler said. “The U.S. is faced with some of the highest energy cost in the world and our elected officials decide to scapegoat American industry instead of fixing the problem.
“The rules of supply and demand are indisputably simple,” Engler continued. “But, faced with convoluted political realities, America’s energy policy falls far short of common sense. Rather than focusing on ill-advised price control policies, policymakers should set their sights on enhancing America’s energy security.”
The NAM believes that the nation’s domestic energy supply should be diversified and expanded through increased production of all types of energy, improved energy efficiency, more research on technology and alternative energy, increased access to domestic sources with continued environmental protections, and improved distribution.