NCPA: Romney's Overall Energy Plan Gets A 'B'
Better to Halt All Energy Subsidies, Including Those to Fossil Fuels
August 23, 2012
(Dallas, TX)— Proposed energy policies outlined today in New Mexico by GOP hopeful Mitt Romney will help boost domestic oil production, reducing the U.S. dependence on imported oil – but National Center for Policy Analysis Senior Fellow H. Sterling Burnett gives mixed grades to his other energy proposals.
“Compared to Obama’s plan it’s a clear winner, but if I were grading, I’d give it a B,” said Burnett. “I agree that it is well past time that we opened additional areas to off-shore oil production and beginning in Virginia seems right since state officials have indicated a desire to open offshore areas to production.”
Burnett calls Romney’s plan to give each state the responsibility for managing its public lands’ energy production “a great, innovative idea,” adding that “Only political hacks and pure partisans could say it’s a giveaway to the oil and gas industry since Romney also supports development of renewable resources. He should go further and give states the right to manage all the natural resources on public lands within their borders.”
Burnett applauds Romney’s call for end the wind energy tax credits, renewable grants and loan programs but says he should not stop there. “To create a truly level playing field, Romney should also end all energy subsidies, including those for fossil fuels. This would allow the market to truly function to deliver the most efficient, lowest cost energy to the public.”
“Finally, Romney loses points for his insistence on continuing the insupportable renewable fuel standard which turns food into costly, inefficient fuel,” said Burnett. “This is arguably the most ill-conceived energy subsidy in existence and the only people who truly benefit from this are the farmers, distillers and blenders. The rest of the country and the world are paying dearly for it.”