Mitt Romney Releases Energy Plan in New Mexico

Mitt Romney stumps in the expanded Battleground state of New Mexico today and launched his plan for rapidly expanding energy production in the US and putting the country on a the towards energy independence:

Seeking to refocus his presidential campaign on the economy after days of distraction, Republican is promoting energy proposals aimed at creating more than 3 million new jobs and opening up more areas for drilling off the coast of two politically critical states, Virginia and North Carolina. Romney is traveling from Arkansas to New Mexico on Thursday to discuss what aides cast as a comprehensive energy plan that would result in more than $1 trillion in revenue for federal, state and local governments, plus millions of jobs.

The most significant aspects of Romney’s plans hinge on opening up more areas for offshore oil drilling, including in the mid-Atlantic, where it is currently banned. Romney also wants to give states the power to establish all forms of energy production on federal lands, a significant shift in current policy that could face strong opposition in Congress.

In a supporting document, Romney says it now takes up to 307 days to receive permits to drill a well on federal land. By contrast, states such as North Dakota issue permits within 10 days and Colorado within 27 days, Romney said. “States are far better able to develop, adopt and enforce regulations based on their unique resources, geology and local concerns,” the statement said.

In an effort to appease environmentalists, Romney says he would prevent energy production on federal lands designated as off-limits. Romney’s plan focuses heavily on boosting domestic oil production, including approving the Keystone XL pipeline that would run from Canada to U.S. refineries in Texas.

The proposal would establish a new five-year leasing plan for offshore oil production that “aggressively opens” new areas for drilling, starting with the coasts of Virginia and North Carolina. Virginia’s Republican Gov. Bob McDonnell has pushed to expand offshore drilling as a boost to Virginia’s economy.

The Obama administration has proposed a plan that would allow energy companies to begin seismic testing to find oil and natural reserves in the Atlantic Ocean. Companies would use the information to determine where to apply for energy leases, although no leases would be available until at least 2017.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: