Since Waxman and Markey plan to push legislation that will crush the economy regardless of the costs, the API released a statement.

Here is part of the statement:

Those who drive, fly or take the bus or train to work will shoulder a disproportionate burden and this must be rectified. Emission allowances will be distributed inequitably, ultimately imposing greater costs on consumers and producers of oil and gas. According to independent studies, domestic production will decline, increasing reliance on imports.

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