Governor Mitt Romney strongly supports North American energy independence as the foundation of renewed US employment and prosperity. President Obama is waging war on fossil fuels, job creation, and efforts to end our economic recession and reduce dependence on Middle Eastern and Russian oil.
Romney’s emphasis on careful analysis and due diligence brought him and Bain Capital notable winners like AMC Entertainment, Burger King, Burlington Coat Factory, Domino’s Pizza, Dunkin’ Donuts and Staples. Obama’s focus on ideology, political calculation, cronyism and campaign contributors produced losers and scandals like Abound Solar, Crescent Dunes, Ener1, Fisker, Mountain Plaza, Solyndra, Tesla, and a host of wind and biofuel projects that would collapse if their taxpayer subsidies were cut off.
Not surprisingly, US gasoline prices are double what they were the day Obama took office. Some 25 million Americans are without full-time jobs – leaving 23% of the workforce unemployed, involuntarily working part-time or at jobs where they are overqualified, making far less money than they did previously, or no longer looking for a job. Our 64% “labor participation rate” is at a 30-year low.
There are still 4.5 million fewer jobs than in 2007, even though our population has grown; the hourly wage of college-educated Americans age 23 to 29 fell 4.7% between 2007 and 2011; median household income plummeted $3,040 since the recession (supposedly, officially) ended in June 2009; and a record 45 million Americans are on food stamps.
Meanwhile, the ever-unstable Middle East is even more unstable. Terrorists murdered our ambassador to Libya. A pitiful anti-Islamist video excused riots in Egypt where a Muslim Brotherhood leader is now president. More than 33,000 have died in a nasty Syrian civil war. Internecine conflicts continue in Iraq and elsewhere. The seemingly perpetual Israeli-Palestinian conflict remains poised to intensify and spread. And the Taliban and Al Qaeda continue to build power and launch vicious attacks, such as gunning down the US embassy’s Yemeni security chief in Sana’a.
Outside the Middle East, the Putin government is using energy to pressure and blackmail European nations dependent on Russian oil and gas, while orchestrating anti-fracking campaigns to keep EU countries from tapping their abundant shale gas supplies. Politics, events and human rights violations raise further questions about Russia, Ecuador, Venezuela, Nigeria and Sudan. And many of these countries are among our most important oil suppliers – because we refuse to develop our own deposits.
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