Jon Huntsman President 2012

ENERGY SECURITY

The nation is drowning in competitive energy supplies from domestic sources. We must employ those resources, or risk allowing foreign nations to control our energy future.

ENERGY SECURITY

To create jobs and strengthen national security, America must end the scourge of our addiction to foreign oil. 50 years ago President Eisenhower warned we should import no more than 20 percent of our oil; today we import 60 percent, much of it from unstable and unfriendly regimes.

America is drowning in energy resources, yet every year we send $300 billion – half our trade deficit – overseas for oil. That money should be going to American energy suppliers to create American jobs. Moreover, 10 of the last 11 recessions were preceded by sharp spikes in oil prices. When oil prices rise, and motorists and truckers have no choice but to pay more at the pump, it depresses economic growth. Today oil remains in the high 80’s despite a global recession.  Imagine where prices will be when the global economy recovers.

Energy security can no longer be a catchphrase; it will be a driving force behind Governor Huntsman’s administration. He proposes an “all of the above” energy policy, with two main elements.

Breaking Oil's Monopoly: we must break oil’s monopoly and create a truly level playing field for competing transportation fuels to enter the marketplace. This includes eliminating the subsidies and regulations that support foreign oil and inhibit domestic alternatives such as compressed natural gas (CNG), electricity, biofuels, and coal-to-liquids, which are not price-controlled by OPEC.  Energy security, as Winston Churchill once said, “lies in variety and variety alone.” 

Increasing Domestic Energy Production: to end OPEC’s pricing and supply power and create jobs, we must increase the production of domestic energy sources.  This includes expediting the process for reviewing and approving safe, environmentally sound energy projects, including the development of North American oil and gas reserves; oil and gas in the Gulf of Mexico and Alaska; shale gas and oil in the U.S.; and Canadian oil sands.  Such an effort will dramatically lower our trade deficit and will grow our domestic manufacturing sector. 

These reforms will not just promote national security; they will create American jobs.  The current administration is pursuing regulatory policies that will effectively stop construction and prevent thousands of new jobs. At the same time, government has erected barriers to harnessing cheap, domestic supplies of energy. By removing those barriers and shifting our regulatory policy, we will build the foundation of affordable energy upon which American industry—especially manufacturing and transportation sectors––can grow.

The nation is drowning in competitive energy supplies from domestic sources.  We must employ those resources, or risk allowing foreign nations to control our energy future.

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