Governor Mitt Romney strongly supports North American energy independence as the foundation of renewed U.S. 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 scandalous losers like A123, 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, U.S. gasoline prices are double what they were the day Obama took office. Some 25 million Americans are without full-time jobs — leaving 23 percent 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 percent “labor participation rate” is at a 30-year low...Since oil is sold in a world market, producing more in the United
States means we could import less from abroad, free up more oil for
other nations, and push prices down. Exporting US natural gas and
drilling, fracking and production expertise would make other nations
less dependent on the Middle East and Russia, bring natural gas prices
down further, turbo-charge economies, and encourage African countries to
use gas to generate electricity, rather than “flaring” it as an
unwanted byproduct of oil production. Romney understands this. He is calling for more oil and natural gas
production here in the United States, changes to excessive and
counterproductive federal regulations that raise energy costs and kill
jobs, and increased use of friendly Canadian oil to serve America’s
consumers. He knows this will protect us against disruptions in Middle
East oil supplies, reduce the flow of American dollars to totalitarian
human rights violators, create American jobs, increase tax revenues, and
jumpstart our sluggish economy. President Obama, by contrast, continues to ignore reality and embrace
policies based on hope, green dreams, and a determination to
“fundamentally transform” America’s Constitution, economy, society and
business system. He continues to waste billions of taxpayer dollars to
subsidize unreliable, unsustainable, inefficient, insufficient energy
forms that are at best decades from competing in the free market — even
as 80 percent of Department of Energy grants and loans went to companies owned or controlled by Obama contributors; DOE restructured its $465 million loan to Tesla, to make sure the electric-car company doesn’t run out of cash right before the election; and President Obama says malnourished, energy-deprived Africans should avoid fossil fuels and rely instead on wind, solar and biofuel power. Many recipients of involuntary taxpayer largesse are donors to Obama
and Democrat re-election campaigns; have electoral clout in crucial
swing states, where corn growers and others benefit from ethanol, wind
and solar schemes; or provide crucial propaganda and campaign services
via government employee and labor unions and tax-exempt radical
environmentalist organizations...Environmental activists and the Obama Administration express outrage about subsidies
for traditional, efficient means of generating electricity, which
amount to $0.25-$0.44 (25-44 cents) per megawatt-hour for coal and
natural gas and $1.59 per MWH for nuclear. But they are eerily silent
about enormous subsidies for wind ($23.37 per MWH) and solar electricity ($24.34 per MWH). They express equal outrage about importing petroleum from Canada’s
oil sands via the Keystone Pipeline — but are silent about imports of
thick, gooey crude from Venezuelan dictator Hugo Chavez. They brag about
increased U.S. oil and gas production on private lands, but insist that
there be little or no drilling in the Outer Continental Shelf, Arctic
National Wildlife Refuge, Rocky Mountains or even National Petroleum Reserve Alaska,
which Congress set aside decades ago specifically to safeguard our
national security by increasing exploration in areas with the best
potential for oil and gas...more
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