Professor James Angel Testifies Before U.S. Senate Committee

March 07, 2008

James Angel, Associate Professor in the McDonough School of Business at Georgetown University, recently testified before the U.S. Senate Committee for Homeland Security and Governmental Affairs regarding three legislative discussion drafts to control excessive speculation in the commodity markets. Committee Chairman Joe Lieberman, ID-Conn., and Ranking Member, Susan Collins, R-Me., heard the testimony.

Three proposals were put forth and are meant to bring relief to consumers.

Angel testified, "Our security faces serious challenges from energy and food price inflation. Various forces are involved in this inflation, ranging from production constraints and developing-country demand to interest rates and the value of the dollar." He outlined his analysis of the three proposals and summarized by saying, "For the long run, the best way to cut energy and related prices is for the U.S. to quickly adopt a serious and credible policy to transition permanently away from carbon-based fuels, especially those imported from unstable or hostile regions. This transition would pay large economic, national-security, and environmental benefits."

You can find more information regarding the hearing here:

Press Release from the Senate Committee

Hearing Webcast and Testimonies
 

About the Robert Emmett McDonough School of Business
Georgetown University's McDonough School of Business is a premier business school located in the nation's capital. Founded in 1957 to educate undergraduate business students through the integration of liberal arts and professional education, the McDonough School today welcomes approximately 1,300 undergraduates, 620 MBA students, and more than 500 participants in its executive education programs annually. For more information about the McDonough School, visit http://msb.georgetown.edu.

About Georgetown University
Georgetown University is the oldest Catholic and Jesuit university in America, founded in 1789 by Archbishop John Carroll. Georgetown today is a major student-centered, international, research university offering respected undergraduate, graduate and professional programs on its three campuses. For more information about Georgetown University, visit http://www.georgetown.edu.