Unintended consequences

Unintended consequences

Cry Wolf Quotes

Elimination of sections 327 and 328 [of the Safe Water Drinking Act] would not make production of oil and natural gas in the United States any safer, but could substantially increase domestic oil and natural gas production costs, thereby decreasing domestic supply.

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David E. Bolin, deputy director of the State Oil and Gas Board of Alabama, Testimony, Committee on Oversight and Government Reform, U.S. House of Representatives.

CBA also disputed administration claims that eliminating the FFEL program would not result in poorer customer service to students and parents. More than 30,000 people are currently involved in helping students via the FFEL program. These experts understand students' loan obligations and how to get students the help they need when facing difficultly in repaying their loans. Firing them and hiring some untrained replacements, as the President proposes, would be a huge setback for educational opportunity.

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The Consumer Bankers Association’s Director of Government Relations, Marcia Z. Sullivan. Consumer Bankers Association’s press release.

The more efficient new cars won’t save a drop of gas until they’re purchased. If they don’t sell, not only energy conservation, but pollution and safety improvements will be set back.

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Unidentified GM Spokesman, Chicago Tribune.

Such a tax inevitably discourages capital investment that is so important for the development of new energy resources. There is a definite psychological effect on investors who know that any success will be subject to a tax that could consume almost the entire profit.

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Walker Winter, of the U.S. Chamber of Commerce, Statement at the House Committee on Ways and Means.
02/05/1974 | Full Details | Law(s): Windfall Profits Tax