1975, when they were considering these efficiency standards they were supposed to consider that the technology was really feasible and that there was an economic justification for it. But today thats beginning to be blurred and we know, certainly, at epa when they consider it, they certainly dont consider whether its technologically feasible or economically justified. So if we wanted to have a more balanced approach what were trying to do is hear from people who are involved in this on a daily basis because the American Public when they go to the Appliance Store to buy an appliance, they dont understand all about this efficiency. They just know what the price is, and then some people are telling them well you are going to save money even though its a lot more, because of the electricity that will go down. And other people make the other argument. So one of our objectives today is to just try to get a better understanding of what is the reality of this. And thats why were here. So i wan
Costs of the new appliance . I would say that these standards have very different affects on different households based on some of the characteristics i mentioned and also some that i state as well in my written testimony. For instance, if you live in texas, maybe its more benefit for you to have an Efficient Air conditioner but do you care how efficient your furnace is . In that case you may not save money by getting an efficient furnace. So i would say that different situations geographical area would have an impact on it . Absolutely. And you indicated the use of the product, obviously, would have an impact on it. And you mentioned, i think, some elderly people who maybe use it less would have less benefit from it as well, is that correct . That is correct. And the Department Notes that in its analysis. So all of us make comments about, oh, this is going to save money and so forth, but it certainly is possible in many instances, i would assume, that lowincome people and elderly are
Winning documentaries at student cam. Org. Industry leaders testified about proposed Energy Efficiency rules for Household Appliances at a house energy and commerce subcommittee hearing. They talked about the possible effect of regulations on Consumer Prices and efficiency of large appliances, including dishwashers, re refrigerators and washing machines. This is two hours and 10 minutes. Like to call the hearing to order this morning. And im going to thank our panel of witnesses for being with us. Im going to introduce you right before we right before you give your Opening Statements and ill introduce you individually at that time. I would like to recognize myself for five minutes for an Opening Statement. Todays hearing is entitled Home Appliance energy firsefficiency standards. Since 1987 weve had energy efficience standards for certain appliances. It came about because back in 1975 there was a federal Energy Policy act that established that format. The Reagan Administration was sued
With that, mr. Chairman. Actually that process that youre describing used to be used by the department of where manufacturers wouldan opportunity to test a product under a new standard or to even employ a new Test Procedure before you could determine whether a standard was appropriate. But what weve seen in the last several years is because so many rulemakings are going on at the same time, that d. O. E. Has not been able to go through this very thorough process of lets do a Test Procedure and make sure that works, a test can be repeatable and reproducible before we set a standard. So that companies can see if you can test a product. Its very manufactures spend an enormous amount of resources on compliance to these standards. The testing is very complicated. These products are more sophisticated than they used to be, so you want to get that right. You dont want to mess that up. And whats happened is the process has become con flate and its very difficult conflated and its very difficul
Explain. We begin with stocks rallying for a third consecutive day. The first time they have done that all year. Were on correction watch at this hour. They take the dow and the s p to the brink of exiting that precarious position. Big move in oil. The s p is out of correction by about a point. The dow still has some work to do by about 100 points. Believe in this move over the last three days . Theres really positive signs, scott. The transports are playing a big role here and thats been whats ailing one of the factors ailing the market for so long that disconnect. Bio techs bouncing really hard up 15 off their lows. Small caps out performing large caps up 7. 5 versus 6 and the banks are the only s p sector still down double digits on the year and you dont want to see such weakness given what we were worried about to begin with. Do you believe this three day moves . The other rallies have been punked. They sell right into it. Not even a couple of days. I think you have 24 hours in mos