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Energy Regulation: State-Level Issues
On September 12, 2013, energy experts, lawmakers, and industry leaders convened at the Bush Center in Dallas, Texas, for a day-long conference focusing on the economic growth potential of the energy sector. Hosted by the 4% Growth Project, the Bush Institute’s signature economic growth initiative, the conference demonstrated the impact that sometimes-arbitrary regulation has on economic growth. With this in mind, the conference featured five panels, each discussing and analyzing different ways in which the energy industry and regulation converge. Over the next few days, we will post brief summaries of each panel, beginning with the first, below.
Panel I: The Record of Growth and Regulation in the States
Moderated by Karen Harbert, the President and CEO of the Institute for 21st Century Energy, this first panel discussed the implications of allowing each state to determine its own energy policy. Against this backdrop, the audience heard Pennsylvania Governor Tom Corbett emphasize the importance of educating his state’s citizens about the energy industry. Former North Dakota Governor Ed Schafer explained how, in North Dakota, it was important to have high regulatory standards in order to keep the federal government from overreaching, while simultaneously promoting an environment that was suitable for investment. A recurring theme throughout the panel was the interminable quest to strike the right balance between legislation, taxation, and the free-market at the state level. Other panelists included Diana Furchtgott-Roth and Michael Orlando who both presented research showing the immense economic benefits that the state of New York could enjoy if its policy toward hydraulic fracturing were different.
You can view a video of the entire panel here. Stay tuned for more updates.
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