Energy Policy

Promote Clean, Affordable Energy Here and Abroad

American economic prosperity is closely tied to the availability of affordable, abundant, and clean energy supplies. If we continue to restrict domestic production and refuse to build new energy infrastructure, jobs will be shipped overseas and America will be less competitive.

Energy demand in the United States could grow by as much as one-third between now and 2030; it's growing even faster around the globe, but new taxes are undermining the strength of U.S. business – particularly in the U.S. oil industry.  The oil industry has lost 270,000 jobs, and if a new tax proposal is signed in 2010 that will significantly add more taxes to the industry, this will reduce R&D efforts for new energy sources, eliminate more jobs, and make the U.S. even more dependent on foreign oil.   Another dire consequence is that reducing profitability will impact investors, including the mutual fund market, which owns 43% of all oil shares. Imagine what impact this will have on the entire stock market.

Internationally, environmental issues-including global climate change-must be answered with commonsense solutions that harness technologies, promote economic growth, and achieve environmental benefits.

VOTE DOWN THE CAP AND TRADE BILL

The Cap and Trade Bill, if passed, will be a disaster.  Capping carbon emissions in the U.S. will have zero impact on the environment if two of the world’s biggest polluters – China and India -- don’t sign on to the agreement.  Estimates are that if the U.S. cut its carbon emissions to zero, within as little as two years, carbon emissions wafting over from China would boost U.S. levels above current levels.  It is now predicted by 2030 China’s CO2 emissions will equal the entire world’s carbon dioxide production of today. 

It would be irresponsible to believe the wanton destruction of China’s environment and the surrounding region is their problem alone. It is sheer idiocy to suggest American trade policies towards China have not contributed to the greatest environmental meltdown in the history of our planet.

It is time to fess up. Over thirty percent of Chinese emissions are a direct result of exports for consumption by the United States and the European Union. Most of China’s emissions come from its outdated coal-fired electrical generation plants and furnaces that use technology developed prior to World War Two.

The U.S. must be part of the solution by taking responsibility for its foreign energy policies and forcing China to commit to a long term policy for reducing CO2 levels.  It will help the world breathe easier.