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Oil Markets Await the Next OPEC+ Announcement

Oil Markets Await the Next OPEC+ Announcement

Oil prices remained rangebound in…

Energy Independence by 2020 with Romney?

Presidential candidate Mit Romney on Thursday promised voters a US entirely energy independent by 2020, the allegedly detailed plan for which he plans to unveil on his campaign tour stop in New Mexico later today.

The key to Romney’s ambitious promise is to aggressively increase local production of oil and natural gas on federal lands and on the country’s coasts.

Romney reportedly put the finishing touches on his plans during a $6-million luncheon in Houston yesterday with the help of oil industry majors. The plan would also necessarily seek to remove a number of federal regulations aimed at reducing pollution.

Key to the plan is a state-centric strategy that would allow each state to manage its own development of energy resources on federal land, effectively removing federal government control over these lands and allowing states to determine the issuance of exploration licenses.

The grand plan also promises to create 3 million energy jobs.

On a broader level, the plan would lift the Obama administration’s suspension of fossil fuel development off the coast of Virginia in response to the 2010 BP oil spill. In addition, the plan would boost development of the Keystone XL pipeline.

By. Charles Kennedy of Oilprice.com



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  • Bob on August 24 2012 said:
    Oh my!! Another overly simple answer from a Politician.. I'll give you energy independence if you allow big oil to pollute your water and air.. Brillant!! I will increase funeral, healthcare workers by 3 million, cause your all going to get a lot sicker.. Renewable energy is for democrats and liberals and who cares about the sun.. Solar, tidal, wind power are a thing of dreams.. We don't need clean, domestic energy when we can pollute your ocreans, , rivers, drinking water and air.. What's a little toxic waste, so your kids cough a little..Polticians : if there were only a WISDOM pill..
  • David on August 24 2012 said:
    This is a great example of moral unfairness. Appeal to those voters not able to capture all the elements in a coherent opinion but who will lunge for jobs jobs jobs. Preferably would be an aggressive plan to reduce consumption of oil in the fleet much like Europe did decades ago without any effect except big vehicles got more expensive. Use more gas, and how will Mitt's plan do that when some of his closest are oil men? And maybe some of us don't think the approach in BP to rush in a well in a reckless way when other regulator's required at least some contingency as a better approach. But just say stuff to get elected is immoral. Now how are ya going to satisfy the religious right Mitt and those coal miners, they're dependin' on ya and you want the votes.

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