What Caught My Eye Today - Mitt Romney's Energy Plan

Fred's Note: It occurs to me that in recent posts regarding the upcoming U.S. Presidential election that I am guilty of doing the same thing as various media outlets by rendering opinions on statements that I may have taken out of context.  To be fair, I'm not a professional journalist and doubt very much that my blog will ever reach the critical mass that the New York Times does. However, the information is readily available to anyone who truly wants to make an informed decision come Election Day in November. With that in mind, over the next several days and weeks, I'll be posting excerpts from the websites of both the Republican presidential candidate, Mitt Romney and the incumbent Democratic candidate, Barack Obama. It goes without saying that I will be adding some color commentary, but the content will be from the candidates themselves.

Fifth in our series, Mitt Romney's energy plan. First, an overview of Romney's overall philosophy including a rebuke of the policies of the current administration , followed by a more detailed account of the Romney energy plan.

An affordable, reliable energy supply is fundamental to a prosperous and growing economy. With the right policies in place, America can become an energy superpower – and we can end our expensive and dangerous dependence on OPEC. A successful national energy strategy will have a fundamental influence on the well-being of the nation. Dramatically increasing domestic energy production can bolster the competitiveness of virtually every industry in the country, creating millions of new jobs from coast to coast. With fewer energy imports and more exports of manufactured goods, America’s trade deficit will decline and the dollar will strengthen. And all Americans can rest assured that the nation’s security is no longer beholden to unstable but oil-rich regions half way around the world. Sounds great, don't it? So great in fact, that Obama is essentially saying the exact same thing. But I'm getting ahead of myself. We'll get to Obama's energy platform next time.

President Obama has described his own energy policy as a "hodgepodge," sent billions of taxpayer dollars to green energy projects run by political cronies, rejected the Keystone XL Pipeline as not in "the national interest," and sought repeatedly to stall development of America’s domestic resources. He has gone so far as to impose regulations designed to "bankrupt" the coal industry, and his Administration was held in contempt of federal court for illegally imposing a moratorium on drilling in the Gulf of Mexico. Is it just me or does the Romney camp have a "thing" for using quotation marks?Under the Obama Administration, leasing and permitting on federal lands and offshore are down by half. Last year, oil and gas production on federal lands plummeted. Today, the Gulf of Mexico is producing hundreds of thousands fewer barrels per day than expected. And the EPA predicts that another coal power plant will never be built in this country. Is this necessarily a bad thing?

Mitt Romney will make America an energy superpower, rapidly and responsibly increasing our own production and partnering with our allies Canada and Mexico to achieve energy independence on this continent by 2020. This will require genuine support for increased energy production, a more rational approach to regulation, and a government that facilitates private-sector-led development of new energy technologies by focusing on funding research and removing barriers, rather than chasing fads and picking winners and losers.

• States will be empowered to control all forms of energy production on all lands within their borders, excluding only those that are specifically designated off-limits. Federal agencies will certify, but the states will lead.
  Pretty consistent with his overall smaller government platform, though it is not exactly clear to me how much this will change how we do things now. There is no guarantee that energy production will dramatically rise under Romney's plan, especially given that federal agencies still have the final say, even under his plan.
• Romney will establish the most robust five-year offshore lease plan in history, that opens new areas for resource development – including off the coasts of Virginia and the Carolinas – and sets minimum production targets to increase accountability.
  Last I checked, more offshore drilling has been brought online in the past 4 years than in the 8 years of previous administration (Some dude from Texas, if I recall).
• Romney will approve the Keystone XL pipeline, establish a new regional agreement to facilitate cross-border energy investment, promote and expand regulatory cooperation with Canada and Mexico and institute fast-track regulatory approval processes for cross-border pipelines and other infrastructure.
  The pipeline agreement is going to pass under either administration. Of course, for those who don't follow this stuff, it makes for a great sound bite.
• Instead of relying on decades-old surveys developed with decades-old technologies, Romney’s plan facilitates new energy assessments to determine the true extent of our resource endowment.
  Much better than the put on a blindfold and hope for the best approach that the Obama administration appears to have been relying on. Of course, some might have a hard time reconciling that with the record high production of natural gas and oil, but what do I know.
• Romney will pursue measured reforms of our environmental laws and regulations to strengthen environmental protection without destroying jobs or paralyzing industries. Romney's plan will also streamline the gauntlet of reviews, processes, administrative procedures, and lawsuits that mire so many new projects in red tape.
  It certainly sounds better, but lacks the whimsy and bumper sticker appeal of "drill baby, drill.".
• Romney will promote innovation by focusing the federal government on the job it does best – research and development – and will eliminate any barriers that might prevent new energy technologies from succeeding on their own merits. Strengthening and streamlining regulations and permitting processes will benefit the development of both traditional and alternative energy sources, and encourage the use of a diverse range of fuels including natural gas in transportation.
  Yeah, I'm pretty sure this is a dig at that Solyndra mess. Not Obama's finest hour, but you have to figure you are going to roll a few snake eyes every now and again. 

Nothing terribly controversial nor overly creative that I can see. However, I doubt anyone thinks energy policy is going to decide who will reside at 1600 Pennsylvania Avenue next January.

You can read up on Romney's position on energy here. Next time, Barack Obama's energy plan.