1.3: Energy
Unleash America’s full energy production potential in oil, natural gas, coal, biofuels, wind, nuclear oil shale and more,
creating jobs, stimulating a sustainable manufacturing boom, lowering gasoline and other energy prices, increasing government
revenues, and bolstering national security.
Other Information:
The United States has more energy resources than any other country in the world – more than Russia, Saudi Arabia, Canada,
or Brazil. Expanding the development of these resources could create up to 1.1 million new jobs and deliver $127 billion in
new government revenues by 2020, according to a recent Wood Mackenzie study. With the right regulatory policies, the United
States could be the largest oil producer in the world by 2017. It is time to harness the immense natural energy resources
our country has, get Americans back to work, and lower gas, diesel, and other energy prices for every American. Yet we pay
nearly $4 per gallon for gasoline and continue to import nearly half of our oil from foreign countries, many of which have
governments hostile to the United States. Meanwhile, millions of Americans in energy-rich regions of the country remain unemployed.
My administration will pursue an “all of the above” American Energy Policy that allows expanded development of oil, natural
gas, coal, biofuels, wind, and nuclear sources of energy. An effective pro-American energy bill will lead to a boom in American
jobs, a dramatic increase in the value of the dollar as we spend less on energy from overseas, and more revenue for state
and federal government from royalties and increased economic activity. As President, I will immediately reset our energy policy
by removing bureaucratic and legal obstacles to responsible oil and natural gas development in the United States. This means
development of offshore oil and natural gas resources in places currently blocked by the federal government, such as the Atlantic
and Pacific Outer Continental Shelves and the eastern Gulf of Mexico. It also means ending the restrictions on oil shale development
in the western U.S., where we potentially have three times more oil than Saudi Arabia. Under this plan, coastal states will
receive a share of the royalty revenues the federal government takes in – a benefit that states that drill on land already
enjoy -- to give them an incentive to allow offshore development. This plan will also ensure that federal agencies get out
of the way in places where drilling is already allowed. For example, even though companies have been cleared to drill in the
western Gulf of Mexico for months, the Department of Interior has dragged its feet on reissuing permits – and Gulf Coast economies
continue to languish. Through citizen action, we can liberate America’s energy resources. For example, in the spring of 2008,
gas prices were surging towards four dollars a gallon, a citizen-led petition called Drill Here, Drill Now, Pay Less, called
upon Congress to immediately address the energy crisis. One and a half million signatures later, Congress voted to end its
25-year ban on offshore drilling. By the end of 2008, gas prices had plummeted to under $2 dollars a gallon. A pro-American
energy plan must also recognize the enormous natural gas potential in the United States, especially the development of vast
shale gas resources across the country. America is a world leader in responsible shale gas production, and we must continue
to promote this form of safe domestic energy production that is creating jobs and strengthening our economy, from Pennsylvania
to Texas to Colorado. This also means maintaining the strong and effective regulation of hydraulic fracturing at the state
level and ending the federal government’s attempts to clamp down on this vital technology that has been used safely for more
than 60 years. We must also replace the EPA, which pursues an anti-jobs agenda the economy simply cannot sustain. A pro-growth
Environmental Solutions Agency in its place will operate on the premise that most environmental problems can and should be
solved by states and local communities. Rather than emphasizing centralization and regulation, it would emphasize coordination
with states and local communities, the sharing of best practices, and focus on incentives for new solutions, research and
technologies. The imperative to unleash American energy is not just economic. It is also a basic question of national security.
The more energy we can produce here, the less dependent we are on foreign countries, many of whom have interests hostile to
our own. At the same time, we must strengthen our relationships with close allies that have vast natural resources, such as
Canada. For example, we must immediately authorize the construction of the Keystone XL pipeline, which will bring 700,000
barrels of oil a day from Western Canada, Montana, Oklahoma, and the Dakotas to Gulf Coast refineries in Texas, reducing our
dependence on Latin America and the Middle East and creating tens of thousands of new jobs. I look forward to learning more
about your ideas and solutions for a bill that will end our man-made energy crisis, and pursuing solutions that will create
jobs, bring in more revenue, and lower prices for all Americans. We have done this before, and we can do it again.
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