In Focus: Mitt Romney’s Energy Plan

romney face In Focus: Mitt Romney’s Energy Plan

The Romney platform is called “Believe in America: Mitt Romney’s Plan for Jobs and Economic Growth“; it also contains the candidate’s energy policy.

But before Romney details his plan, he takes some swipes at the Obama administration’s energy plan:

As the Obama administration wages war against oil and coal, it has been spending billions of dollars on alternative energy forms and touting its creation of “green” jobs. But it seems to be operating more on faith than on fact-based economic calculation. To begin with, wind and solar power, two of the most ballyhooed forms of alternative fuel, remain sharply uncompetitive on their own with conventional resources such as oil and natural gas in most applications. Indeed, at current prices, these technologies make little sense for the consuming public but great sense only for the companies reaping profits from taxpayer subsidies.

Romney accuses the Obama administration of having an “unhealthy obsession with green jobs” and cites studies which show that green jobs might actually hurt employment rather than help it. Obama’s delay of the construction of the Keystone XL pipeline is also labeled a job killer; the document cites an arguable figure of 100,000 jobs lost in not constructing the pipeline that would originate at the Alberta Tar Sands.

Here is Romney’s energy platform, excerpted from his website.

What’s at Stake

Producing more domestic energy would create good jobs and bolster local economies in a wide variety of energy-producing regions that effectively “export” their product to the rest of the country. While countless jobs are engaged in the actual energy-production process, they are a small fraction of the full workforce that benefits. For instance, before the first barrel of oil is pumped out of the ground, entire industries are hard at work creating the equipment and providing the services used in drilling, production, and the long chain of supporting industries that brings energy from inside the earth to the consumer.

The ripple effects into the non-energy sectors of the economy are commensurately important. If instead of sending hundreds of billions of dollars overseas we can send them to our own energy-rich centers, the nation as a whole will experience the economic benefits that we currently see other countries enjoying at our expense.

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