Key Points:

• The U.S. needs to promote a comprehensive policy that addresses a sustainable, affordable and secure supply of energy. For years, Washington has failed to sufficiently address the issue of rising energy costs and, as a result, the country now faces a true energy crisis. The U.S. is the only country in the world sitting on known reserves of oil and gas that are not being developed.
• Regrettably, the energy issue is placing an ever-increasing burden on the consumer, pushing up the cost of just about everything they buy. It’s no longer just gasoline and heating bills, it’s now hitting food and other everyday essentials – from trash bags and diapers to shampoos and detergents.
• Energy and feedstocks are the lifeblood of manufacturing.  As they remain high and volatile in the U.S., the decline of our country’s manufacturing sector will continue.  The price of natural gas – which is both an energy source and a feedstock – was once a competitive advantage for U.S. manufacturers. Today, it is a disadvantage. Millions of manufacturing jobs have been lost since the turn of the millennium – primarily due to the cost of hydrocarbons and energy.  Some 120,000 chemical industry jobs have been lost, along with five times as many indirect jobs.
• Dow has improved energy efficiency by 22% from 1995 to 2005, saving 900 trillion Btu, enough energy to power eight million homes for a year. We're targeting another 25% by 2015.  We’re investing all over the world for alternative sources of low-cost energy.  We're making great progress – but the staggering increases in our energy costs over the past few months have forced us to take even more extraordinary measures.
• Dow’s recently announced price increases were necessary to cover spiraling energy costs. In the first three months of this year our feedstocks and energy costs climbed 42%, while our total costs increased by 22%.

Energy Policy Reform:

U.S. energy policy needs to promote a sustainable, affordable and secure supply of energy. To be truly comprehensive, this policy must:  increase energy supply by removing restrictions to oil and natural gas exploration in the U.S.; expand the use of energy efficiency, renewable energy and clean coal technologies through tax incentives and other funding initiatives; accelerate nuclear power deployment; and improve the transparency of energy markets.