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President's Energy Policy Puts Pressure on Small Business Owners - Your Bottom Line

Author: KChandler for Chernoff Date: August 07, 2013

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Energy costs rank third on list of 75 problems faced by small business owners, says Dunkelberg. #smallbiz http://on.nfib.com/14mdQRB Tweet this »
 
Quick Facts:
  • 33% of NFIB members find energy costs to be a critical issue in business operations.
  • As the United States works to reduce coal emissions, China and India continue to increase emissions.
  • President Obama has not yet approved the Keystone Pipeline project, which would provide new jobs and a convenient supply of crude-oil for refineries.

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August 7, 2013 – President Obama’s plan to solve pollution problems by converting to wind, solar-powered and renewable fuels presents multiple problems—especially for small business owners, says NFIB chief economist Bill Dunkelberg.

Obama has been utilizing the Environmental Protection Agency to enact energy-policy changes, which have included efforts to crush the coal industry and reduce coal-based emissions in the United States.

As American businesses struggle to absorb government-influenced cost increases and comply with the emission regulations, China and India continue to increase their emissions. Businesses are mandated to use corn ethanol—known to actually cause more harm to the environment than help—at the hand of Congress, lobbyists and corporate executives.

In addition to strict regulations, the President’s energy plan will require heavily subsidized funding and cause energy costs for ordinary consumers to skyrocket.

More than 33% of NFIB members find energy costs a critical issue in business operation, with the issue ranking third on a list of 75 currently faced by small business owners.

Dunkelberg reports that small business owners can expect no relief until the government enacts some sensible, market-oriented policies, rather than those that reduce world emissions at the expense of American citizens and business owners.

“Small businesses are struggling to absorb more and more government-influenced cost increases, and the President’s energy plan only exacerbates the problem,” says Dunkelberg.

About Your Bottom Line with Bill Dunkelberg

NFIB's web series Your Bottom Line With Bill Dunkelberg helps small business owners learn more about what drives the economy and how economic issues affect their businesses. William Dunkelberg, NFIB's chief economist and one of the nation's top experts on small business, entrepreneurship, consumer behavior and consumer credit policy, hosts the series.

About NFIB

NFIB is the nation's leading small business association, with offices in Washington, D.C., and all 50 state capitals. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. NFIB’s powerful network of grassroots activists send their views directly to state and federal lawmakers through a unique member-only ballot, thus playing a critical role in supporting America’s free enterprise system. NFIB’s mission is to promote and protect the right of members to own, operate and grow their businesses. For more information visit www.nfib.com.

About William Dunkelberg

Bill DunkelbergWilliam C. Dunkelberg has been chief economist for NFIB since 1971. He is currently professor of Economics at the School of Business and Management, Temple University, and served as dean from 1987-94. He was director of the Center for the Advancement and Study of Entrepreneurship from 1991-94.

Dunkelberg is a nationally recognized authority on small business, entrepreneurship, consumer behavior and consumer credit policy. He has been an advisor to cabinet officers, a member of the Consumer Advisory Council of the Federal Reserve System and is a past president of the National Association of Business Economists. He has chaired the Census Advisory Committee and is an elected member of the Conference of Business Economists and the National Economic Issues Council. He is also a frequent contributor to broadcast and cable news programs and is often quoted in leading newspapers and magazines.

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