With our Presidential candidates clear, there's no better issue to contrast our choice than energy policy. At MittRomney.com, Romney provides an energy plan for the future that balances economic growth and jobs, diversified energy development, and realistic environmental safeguards. His approach stresses a rational and streamlined approach to regulation, approval of the Keystone Pipeline, and opening America's vast energy resources for development. By freeing companies to capitalize on our oil, natural gas, nuclear, and alternative energy options, America can stimulate economic growth and provide sustainable energy jobs.
In addition to putting conservative principles in action, Romney hopes to contrast the president's record with his rhetoric, "The president has always been good at saying things that sound wonderful, but now we have not just his words but his record." Nowhere is that contrast more clear than in energy.
In an interview with CNBC anchor Maria Bartiromo, Chevron CEO John Watson observed, "About 75% of the price of gas is really dictated by crude oil. World crude oil consumption is close to 90 million barrels a day. Most of the growth in demand is from China.... We're seeing little spare capacity,...tensions and pressures, primarily in the Middle East, where most of our oil is produced, and ...and restrictions in supply."
Natural gas in America has decreased in cost because of the dramatic expansion in supply. The same could be done with oil. Watson said, "There are some things that we can do in this country to spur supply on world markets. People forget we're the third-largest oil producer in the world. If we have policies that are pro development, we can affect world supplies if we used the resources that we have. For example, 85% of our continental shelf is off limits to development." Many reserves in Alaska and other federal lands are also off limits.
President Obama blames environmental concerns, but America has the safest and most-environmentally stringent rules in finding, developing and delivering oil to the market. Relying on foreign sources for most of our oil makes an environmental catastrophe more likely.
Our limited domestic production has security implications. By relying so much on Middle Eastern sources, we've given OPEC virtual monopoly control on the price of crude while transferring unprecedented wealth to regimes who are hostile to our interests and often knowingly fund “violent extremists." Terrorists must think us stupid!
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