This week, the U.S. Senate debated S. 3268, the Stop Excessive Energy Speculation Act of 2008, a bill to mitigate the impact of speculators on crude oil markets. However, this bill did not deal in any way with drilling for more oil in the United States. NFIB sent a letter to the Senate urging them to include language to increase the offshore and onshore domestic production of oil and natural gas in S. 3268. Unfortunately, Senate leadership refused to allow debate and a vote on adding such language to the bill.
NFIB also joined the Coalition for Affordable American Energy in sending to the Senate a letter urging enactment of legislation to facilitate production of oil, natural gas and coal, and to encourage both conservation and the development of renewable and alternative energy sources.
Today, the Senate failed to invoke cloture (end debate) on S. 3268. Because of the current stalemate in the House and Senate (the House has held no vote on related legislation) no vote on drilling-related legislation is expected to take place until September, at the earliest.
NFIB will continue to press Congress to pass meaningful relief from the current energy crisis!
- The second most pressing problem for small businesses is the cost of natural gas, gasoline, propane, diesel, and fuel oil (2008 NFIB Small Business Problems and Priorities).
Two commonsense energy supply policies involve allowing for offshore oil and gas exploration and lifting the ban on Western oil shale production.
- Energy costs are one of the top three business expenses in 35 percent of small businesses (NFIB’s Energy Consumption poll).
The rise in energy prices recently has taken a toll on most small business owners, especially for owners that rely on energy for a number of purposes essential to operating their business.
- 78 percent of small business owners agree that the federal government should make it easier for more refineries to be opened (NFIB November 2006 member ballot).
Small businesses need immediate relief and exploring domestic supplies of energy in an environmentally-friendly way is a critical step towards reducing prices.
In addition to increased offshore exploration, NFIB also strongly supports:
- suspending the federal gas tax;
- reducing the federal diesel tax from 24.3 cents per gallon to 18.3 cents per gallon; and
- the current, temporary freeze on oil shipments to the Strategic Petroleum Reserve
NFIB will continue to push Congress to act immediately to increase our domestic energy supply.
