Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Lucas Attacks EPA Regulatory Decision
Tamara Hinton (202) 225-0184
WASHINGTON –Today, Ranking Member Frank Lucas issued the following statement in response to the announcement from the Environmental Protection Agency (EPA) that the agency will begin the process to regulate carbon dioxide and other gases under the Clean Air Act:
“Time and again, the Obama administration makes it clear it is intent on putting greater burdens on our farmers and ranchers. This EPA decision is just another example of how much this administration is out of touch with the realities of our current fragile U.S. economy. Piling on huge regulatory costs for our producers will only wreck agriculture and further damage an already weak economy. I fear that this sets up the opportunity for a push to do sweeping cap and trade legislation as an alternative to the EPA regulatory action. Cap and trade is not a viable alternative and will only be destructive for American farmers and the general economy. The answer to a bad problem is not a bad solution. We must seek a workable solution to this problem,” said Ranking Member Frank Lucas.