Presidential hopeful Mitt Romney has outlined an energy plan that he projects would achieve North American energy independence by the year 2020. He wants to pursue dramatic regulatory reform to accelerate the exploration and development of oil and gas and to facilitate construction of vital infrastructure. Romney wants to modernize outdated environmental laws to take cost into account. Romney says he will increase production – permitting access to resources in the Gulf of Mexico, the Outer Continental Shelf, western lands and the Alaska National Wildlife Refuge. He also plans to approve the Keystone XL pipeline on day one if elected President. Finally – he will invest in new energy technologies. More specifically – the Romney energy plan would support increased market penetration and competition among energy sources by maintaining the Renewable Fuel Standard and eliminating regulatory barriers to diversify the power grid, the fuel system and vehicle fleets.
Renewable Fuels Association President and CEO Bob Dinneen applauded Romney’s commitment to domestic renewable fuels and his recognition of the importance of the RFS. He noted the RFS is helping to reduce America’s reliance on imported oil and create hundreds of thousands of jobs all across rural America. By working to remove barriers to market access for renewable fuels – Dinneen says America can help spur an economic recovery while securing our energy future.
Advanced Ethanol Council Executive Director Brooke Coleman also commended Romney’s recognition of the importance of the RFS to the economic and environmental welfare of the country and the need to open up the marketplace to renewable fuels. Coleman said the RFS and market access are two critical pieces of the puzzle when it comes to the ongoing development of the domestic biofuels industry. The AEC also noted the importance of the tax code when it comes to domestic energy development – and hopes Romeny will me more explicit in his campaign’s support for parity in the tax code for renewable fuels. Coleman says an ‘all of the above’ energy strategy isn’t possible if the U.S. tax code continues to offer incentives to oil and gas developers that are not being offered to renewable fuels projects. According to Coleman – leveling the playing field in the tax code is absolutely critical to achieving the energy security goals set forth by the Romney Campaign.
Growth Energy President and COO Jim Nussle also weighed in on the Romney energy plan – stating he was pleased to see the importance of renewable fuels highlighted. Nussle said the support for the RFS and a diversification of vehicle fleets and fueling systems is an essential tool in achieving increased market access for home-grown American energy and providing consumers with a choice when they fuel up.
Source: NAFB News Service