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Contact: Paula Weis
(202) 974-5282

FOR IMMEDIATE RELEASE

SPI LAUDS CONGRESS ACTION ON ENERGY BILL

WASHINGTON, DC, July 29, 2005 -- The Society of the Plastics Industry, Inc. (SPI) today praised members of the House and Senate for passing the first comprehensive energy legislation in 30 years.

"This is a very, very good bill," commented Gene Steadman, chair of SPI's Energy Task Force, noting that SPI members and staff had spent many hours working with congressional staff on specific provisions important to the industry.

Among these were:

  • Provisions to ensure an adequate supply of natural gas in coming years.


  • Clarification of the federal government's exclusive authority to site liquefied natural gas facilities.


  • A clear process for siting natural gas infrastructure such as pipelines and storage.


  • Provisions to streamline oil and gas development on existing federal lease sites to bring the fuels to market sooner.


  • Agreement to develop an inventory of the nation's oil and gas resources on the Outer Continental Shelf.


  • Coastal impact assistance to energy-producing states.

Steadman praised the bipartisan leadership of energy conference chairman Rep. Joe Barton, Sen. Pete Domenici, and ranking Democrats Rep. John Dingell and Sen. Jeff Bingaman. "They did a great job for the American people," he said.

"Did we get everything we wanted in this bill? No. In our view, it does not do enough to bring down the cost of natural gas, which is of vital importance to our industry as a feedstock as well as a fuel. But we can build on this. It gives us a solid foundation for future legislation - and there will be future legislation," Steadman said.

SPI will continue pressing for congressional action to significantly increase the supply and bring down the cost of natural gas, he said. "We have to bring down those costs in order to stay competitive in the global market. Congress now understands this - thanks in part to the tremendous grassroots efforts of SPI's member companies."

Steadman said that overall, the bill will be good for the American economy and for American manufacturers. "Together with the House's ratification of the CAFTA trade treaty, this has been a very good week for industry in general and the plastics industry in particular."

Founded in 1937, The Society of the Plastics Industry, Inc., is the trade association representing one of the largest manufacturing industries in the United States. SPI's members represent the entire plastics industry supply chain, including processors, machinery and equipment manufacturers and raw materials suppliers. The U.S. plastics industry employs 1.4 million workers and provides nearly $310 billion in annual shipments. For more information, visit SPI on the Web at www.plasticsindustry.org.


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