2012 U.S. Presidential Candidates Mitt Romney (left) and Barack Obama (right).
With the 2012 U.S. Presidential election coming up on November 6th, some people might be wondering where the candidates Mitt Romney and Barack Obama stand on energy issues. Energy issues would include oil and gas, ethanol, alternative energy, etc. Here is a short list of energy sources and issues and where each candidate stands with them.
Obama – Has opened more coastal area and federal lands to oil production, and has increased regulations on oil companies. Wants to eliminate tax breaks for oil companies. Wants to expand environmental regulations and green house gas regulations in regards to producing energy.
Romney – Supports opening more federal land for drilling. Wants to reduce regulations that would preserve environmental gains, but not paralyze the industry. Supports tax breaks for oil companies.
Obama – Initially opposed the building of the Keystone Pipeline over concerns for the safety and health of American citizens. Will reassess the pipeline at the beginning of 2013. Wants to continue expanding shale gas drilling, and wants to follow up on federal safety standards for hydraulic fracturing.
Romney - Supported the building of the Keystone Pipeline. Wants to increase the amount of shale gas that is produced in the U.S. and wants to partner with Mexico and Canada in order to help do this. Wants to help Europe develop shale gas so they can reduce their dependence on Russian gas.
Obama – Supports tougher rules for coal fired power plants.
Romney – Wants to streamline rules and regulations for coal plants.
Ethanol and Biofuels
Obama – Supports the Renewable Fuel Standard. Wants to become energy independent and believes that by increasing biofuel production over 300 million barrels of oil will be saved by 2022. Supports increasing the blend of ethanol in gasoline and supports the development of biodiesel and other biofuels.
Romney - Supports the Renewable Fuel Standard. Wants the U.S. to become energy independent by 2020, and wants to eliminate regulatory barriers to the diversification of the fuel system. No comments have been made on whether he would increase biofuel use in the U.S.
Obama – Supports nuclear energy and the creation of more nuclear reactors. Has used federal guarantees to reduce the cost of developing two new reactors in Georgia.
Romney – Supports nuclear energy and the creation of more nuclear reactors. Wants to reform regulations on the Nuclear Regulatory Commission, and wants the commission to approve new designs for nuclear reactors within two years.
Obama – Announced 1 billion in tax credits for the production of alternative energy and trucks. Supports alternate forms of fuel for vehicles, this includes ethanol, natural gas, and electric powered cars. Also supports wind energy.
Romney – Supports renewable and alternative energy but not at the expense of traditional energy sources like oil, gas, and coal. Would end the tax credit being given to wind energy producers.