LITTLE ROCK — Mitt Romney on Thursday will outline a plan that he projects would achieve North American energy independence by 2020 by opening new areas for offshore oil drilling, starting in Virginia and the Carolinas, and by empowering the states to lease federal lands for oil, coal and natural gas development.
Under the plan, environmental statutes and regulations would be removed or loosened to green-light more coal production and other industry priorities, and the United States would reach agreements for energy production with Canada and Mexico, including to build the Keystone XL Pipeline.
While President Obama has funneled federal dollars toward subsidies and loan guarantees for wind, solar and other green-
energy industries, Romney would spend more broadly on research for new energy technologies.
The presumptive Republican presidential nominee plans to announce his agenda in a speech in Hobbs, N.M. His campaign advisers previewed the policies with reporters Wednesday afternoon.
In a 21-page report released by his campaign, Romney says the United States would become “an energy superpower” by the end of his second term.
“We have an unprecedented opportunity to make our natural resources a long-term source of competitive advantage for our nation,” Romney says in the report. “If we develop these resources to the fullest, we will not only guarantee ourselves an affordable and reliable supply of energy, but also enjoy benefits throughout our economy.”
Romney’s campaign estimates that the plan would have an economic impact of $500 billion and result in three million new jobs, including more than one million in the manufacturing sector. The campaign projects more than $1 trillion in revenue for federal, state and local governments, although it did not specify over what period. It promises lower energy prices for middle-class families.
Romney’s plan caters heavily to oil and coal interests, and oil executives are some of his biggest benefactors. Romney spent Tuesday raising an estimated $7 million across Texas, including $3 million at a dinner at the Petroleum Club of Midland. He spent the night at the home of Miles Boldrick, founder of Statewide Minerals Co., which has stakes in more than 25,000 oil wells.
Obama has attacked Romney over supporting subsidies to oil companies, suggesting those tax breaks should instead go to producers of renewable domestic energy such as wind and solar.
“My opponent thinks new sources of clean, homegrown energy like wind energy are ‘imaginary,’ ” Obama said Saturday in Rochester, N.H. “That’s what he called them. Congressman Ryan said they were a ‘fad.’ Listen, since I took office, America has doubled the use of renewable energy. Thousands of good American jobs have been created. It’s helping us to reduce our dependence on foreign oil. That’s not imaginary, that’s real.”
Romney’s strategists believe his energy policy offers a sharp contrast with Obama and could be a winning issue for the Republican ticket. Senior adviser Ed Gillespie said Romney plans to campaign on his energy plan through the fall sprint, adding, “We think it’s a very high-priority issue for American voters.”
Romney’s plan for federally owned lands represents one of the most sweeping leasing policies ever. The Interior Department controls leasing programs, but under Romney the states would oversee the development and production of all forms of energy on federal lands — and states, according to the plan, would have “maximum flexibility to ascertain what is most appropriate.”
This has long been a priority for conservatives, especially those in Western states who want to speed up the permitting process. Romney’s campaign says it takes 307 days for the federal government to approve permits to drill a well, while North Dakota can permit a project in 10 days.
In Utah, for instance, the Republican governor has signed legislation demanding that the federal government transfer control of 30 million acres to the state. Environmentalists strongly oppose transferring power to the states.
“Giving control of federal lands to states like Utah would result in destroyed treasured landscapes, including those surrounding national parks,” said Scott Groene, executive director of the Southern Utah Wilderness Alliance.
“Sagebrush rebellion rhetoric comes and goes,” he added, “but it always stops when Westerners realize what an economic and environmental disaster it would be for us to hand over control of federal lands to the states.”
Eilperin reported from Washington. Steve Mufson in Washington contributed to this report.
