How Romney and Obama differ on fossil fuels and the energy debate

How Romney and Obama differ on fossil fuels and the energy debate:
Filed under: Ethanol, Solar, Legislation and Policy, USA




Last week, Mitt Romney released a comprehensive energy plan. While taking a backseat to the economy and job creation, energy issues have been discussed regularly by presidential candidates Romney and Barack Obama, and their viewpoints diverge widely. In its online magazine, conservative think tank American Enterprise Institute broke out the core issues that separate the candidates:



Planned vs. free market energy economies: Obama wants more federal funds going toward clean energy, especially wind and solar power, and to stop giving tax subsidies to oil companies. Romney is advocating more of a free-market model, repeating the conservative attack on federal investment in the Solyndra solar energy company that later went bankrupt as an example of how Obama's policies are failing. He would rather see policies in place that promote more traditional energy sources like oil, gas, coal, and nuclear.



Energy affordability: The article makes a statement that Obama's cap and trade policies and strong Environmental Protection Agency mandates on greenhouse gas emissions reduction are possibly being done to gain support from wealthy donors concerned with radical environmentalism. According to AEI, "In contrast to Obama, Romney remains wary of higher energy prices and plans to unleash the free market as a prime means of cost containment by allowing already successful industries like drilling to flourish."



Energy Independence: Both Obama and Romney agree that freedom from Middle East oil imports is something to embrace. They differ in opinion in how to bring this about - Obama is pushing strong federal government leadership to gain energy independence, and Romney is advocating a free market approach that includes more support for oil reserve drilling in the U.S.



The liberal blog Daily Kos notes that Romney's energy policy plan completely ignores the idea of climate change: "Not once is the word, 'climate,' mentioned. But the plan would, Team Romney claims, create three million new jobs. While renewables would get bupkis, the big five oil giants alone would get another $2.3 billion annually in tax breaks."



Nonetheless, Romney's policy was cheered on by the Renewable Fuels Association and the Biotechnology Industry Organization because it supports the Renewable Fuel Standard that sets federal standards for ethanol and advanced biofuels production. Obama has been supportive of RFS, as well.
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How Romney and Obama differ on fossil fuels and the energy debate originally appeared on AutoblogGreen on Tue, 28 Aug 2012 19:53:00 EST. Please see our terms for use of feeds.

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