February 26, 2001

Washington, D.C. - With the high cost of energy threatening the resilience of many of our nation's small firms, Small Business Survival Committee (SBSC) Chairman Karen Kerrigan voiced support for the National Energy Security Act of 200l, joining the bill's chief sponsor, Senate Energy Chairman Frank Murkowski (R-Alaska) at a Capitol Hill press conference this morning.

"Affordable energy is particularly important to small firms.  For most, the cost of energy is not only the difference between profits and losses, but their survival and durability in a competitive and uncertain marketplace. Their ability to maintain and create jobs is at stake, which is so essential to the health of our overall economy," stated Kerrigan.  

The bill is a comprehensive package of proposals, encouraging increased production of traditional sources of energy while offering tax and regulatory incentives for advanced cleaner technologies. At the press event, Senate Majority Leader Trent Lott (R-Miss.), and Senators Chuck Hagel (R-Neb.), Pete Domenici (R-NM), Larry Craig (R-Idaho) expressed concern about the mounting energy crisis, and the importance of quickly moving forward on a plan to increase the supply of energy while reducing U.S. dependency on overseas sources. Chairman Murkowski stated that a central part of his plan is devoted toward moving the U.S. in this direction by "using the fuels of today to get to the technologies of tomorrow."    

In regards to components of the bill to support emerging technologies, Kerrigan said: "We are encouraged by the measures to review regulatory barriers to emerging technologies, and to provide incentives for firms to innovate.  Small firms are the well-spring of innovation and new cutting-edge technologies and removing impediments to innovation is very important not only for continued investment, but more importantly bringing energy-efficient technologies to market more quickly."  

In summary, Kerrigan noted that the National Energy Security Act of 2001 would increase access to critical energy supplies, and improve the infrastructure to move those supplies to consumers.  This, in turn, will make for more reliable and affordable electric power and transportation fuel -- essential to small business's economic health and well- being.

SBSC is a nonpartisan small business advocacy organization.  For more information, please visit SBSC's website at www.sbsc.org.