Focus Point - The Bush Energy Plan's PayoffCommentary by Pete du Pont
August 24, 2001
I'm Pete du Pont with the National Center for Policy Analysis. In case you wondered what the benefits of the Bush National Energy Plan would be the center for data analysis figured it out. I doubt it will shut the critics up, but then what would?
By increasing energy efficiency and supply, the Bush Plan would increase the average annual rate of economic growth by a tenth of percentage point every year from 2005 to 2025. For the same twenty-year period, the unemployment rate would average 4.8 percent instead of 5.1 percent and 1.5 million more Americans would be employed.
It would increase investment by an average of $65 billion a year and GDP would be $540 billion higher in 2025. And annual disposable personal income for an average family of four would be more than $1,828 higher by 2030.
This is the plan that critics have called a sop to energy lobby? A policy that sparks 20 years of growth and stability? If that's instability, give me more.
Those are my ideas, and at the NCPA we know ideas can change the world. I'm Pete du Pont. Next time...