The stability of the U.S. economy depends on access to affordable energy. Every sector of the economy relies on energy to power its facilities, transport its goods, or manufacture numerous consumer products. For many industries, the utilization of energy is the biggest expense, sometimes eclipsing the cost of labor.
The last few decades clearly demonstrate that government meddling in the market and its policy initiatives have made the price of energy more expensive. With less and less competition allowed by the government, we inevitably see higher prices and lower efficiency.
The basics of economics teach us the market is driven by supply and demand. The structure of our economy relies on abundant and affordable energy— in all forms. When government acts to internalize environmental impacts through regulation, it destroys the competitive advantage of our free marketplace.
Of course, government has a role to ensure externalities are addressed, and we have an extensive federal regulatory structure in place to addresses those need. The consequences of high-energy costs are genuine. Families living paycheck to paycheck cannot be forced to absorb higher costs in the name of poor policies. Every piece of legislation, every proposed regulation, every action undertaken at the federal and state levels that affects energy production and utilization should be vigorously assessed to evaluate impacts to energy costs, not only on the environment, but the welfare of the people.