Carper Urges Greenspan to Support a National Energy Policy

WASHINGTON, DC – Senator Tom Carper today urged Federal Reserve Chairman Alan Greenspan to improve the nation’s economy by supporting the creation of a national energy policy that focuses both on increasing conservation and responsible production. Greenspan testified today before the Senate Banking Committee, of which Carper is a member, on the state of the nation’s economy. “With the energy crisis, particularly of electricity in California and increases in natural gas prices, the stars were perfectly aligned to compel us as a nation to formulate a national energy policy,” Carper said. “I have a concern now that as the crisis appears to be abating, we might lose this opportunity to create a policy that both conserves and produces more energy. I filled up with gas yesterday in Harrington, Delaware, for $1.23 a gallon, which is great to see. But we must not allow a temporary rollback to lull us into complacency. Now is not the time to rest on our good fortune, but to push forward for a long term solution.” Greenspan agreed with Carper about the need to both increase energy conservation and increase energy production in the coming years. “Senator, I fully agree,” Greenspan said. “These are issues which you cannot address overnight. They are long-term problems. And unless we address them, while we are, in fact, in temporary surplus, we’re going to find that it’s going to become really much more difficult and the type of problem which is going to induce us to make the types of decisions which are probably mistakes.”