Mitt Romney’s plan to bring back the Economy

Filed in Gather Politics News Channel by on August 23, 2012 0 Comments

Presumptive Republican nominee Mitt Romney revealed a plan during a speech Thursday in Hobbs, NM., which he says will create 3 million jobs plus generate more than $1 trillion in revenue. Romney’s plans for turning around the economy include ramping up offshore oil drilling. He also wants to give states more control over energy production on federal land, believing that states would be better suited to develop, adopt and enforce regulations based on the unique resources, geography and local concerns of the individual states.

As reported by the Associated Press, offshore drilling is a cornerstone of Romney’s plan—part of which would include drilling in the mid-Atlantic, a practice currently banned.

While presidents have tried to enact such proposals before without success, Romney insists that his plan is an achievable objective.

Considering the fact that giving states the power to establish all forms of energy production is such a departure from current policy, Romney would likely face an uphill battle to implement this part of his plan. It would almost certainly be strongly opposed by Congress.

Romney’s plan also includes approving the Keystone XL pipeline that would run from Canada to U.S. refineries in Texas. Additionally a five-year leasing plan for offshore oil production that would aggressively open new drilling locations, beginning with the coasts of Virginia and North Carolina, would also be part of this strategy.

So, what are Romney’s views on renewable sources of energy like wind and solar, which President Obama has enthusiastically supported? While Romney says he likes wind and solar as much as the next person, he adds that he doesn’t want the law to be used to prevent the production of oil and gas and coal, accusing Obama of trying to block oil and gas production in an effort to help renewable energy companies prosper.

Romney did attempt to appease environmentalists by stating that he would prevent energy production on federal lands designated off-limits.

According to The Ticket, Mitt Romney’s goal is to increase domestic oil, coal and natural gas production to the extent that energy independence could be achieved by 2020.

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