President Obama’s energy policies have kept investment and jobs out of America; Romney’s energy plan can bring money and jobs back. Analysts are picking apart Romney’s 21-page energy plan that was introduced in Hobbs, New Mexico, on Thursday. Is energy independence by 2020 possible, or is it, as the Financial Times posited, “an act of hubris”? More important than whether or not his energy play is realistic is the international implications of his “independence” assertion and how he plans to get there.
As the news coverage reminds us, “Every US president since Richard Nixon has set an objective of reducing the country’s reliance on foreign oil, and most of them have failed.”
President Obama’s approach has been to “end the age of oil.” To that end, he has poured billions of dollars into green energy projects—many of which were risky investments that have now failed or are headed for failure. His approach has done nothing to reduce our reliance on foreign oil—though we are importing less due to the bad economy and high prices (and the new oil boom presently centered on North Dakota.) To companies looking to invest in any kind of extractive endeavor, his policies have screamed “You can’t!”
Read more at EPAabuse.com. By Marita Noon.
Photo credit: Cain and Todd Benson (Creative Commons)