Big Oil Buys Gusher: 5 Pro-Oil Planks In Romney Energy Plan

After raising nearly $10 million in Texas oil money in two days, Mitt Romney announces an energy plan on the Texas-New Mexico border later today that includes billions of dollars in giveaways to industry contributors.

Romney will call for extensive expansion of oil and gas drilling – including along the coasts of Virginia and the Carolinas – and eliminating most federal safety and environmental standards that govern the development of energy resources on our public lands.

This corporate polluter agenda should come as no surprise, as the Washington Post noted:

“Romney’s plan caters heavily to oil and coal interests, and oil executives are some of his biggest benefactors.”

Romney’s energy team is comprised of oil and coal industry insiders, from oil billionaire Harold Hamm, the chair of Romney’s energy policy team – and $1 million donor to the conservative Restore Our Future Super PAC — to coal lobbyist Jim Talent, as well as retreads from the George W. Bush administration. Politico described it as “Bush energy advisors going to Romney.”

The Romney-Ryan plan once again claims mysterious “trillions” of dollars in government revenue; however, a recent Congressional Budget Office analysis found that their proposals would bring in only limited federal revenues over the next decade. Instead, the Romney-Ryan energy plan includes billions of dollars of tax breaks to corporate polluter allies, access to lands and waters owned by all Americans, and fewer restrictions on mercury, toxic, and carbon pollution.

Here are five facts about the Romney-Ryan “oil above all” energy strategy you ought to know in advance of his energy speech in New Mexico today.

1. The Romney-Ryan plan gives the big five oil companies a $2.3 billion tax cut above and beyond existing tax loopholes

Both Romney’s plan and the House-passed Ryan budget would retain $2.4 billion in annual tax breaks for the big five oil companies – BP, Chevron, ConocoPhillips, ExxonMobil, and Shell – that made a record $137 billion in profits last year, and over $60 billion so far in 2012. Perhaps more outrageous is that the Romney-Ryan proposed cut in the corporate tax rate would provide a $2.3 billion tax cut for the big five oil companies. With the existing tax breaks, the big five companies would skim over $4 billion annually from the U.S. Treasury.

2. Romney plan gives Americans’ lands and waters to dirty energy interests

Romney also proposes the extreme idea of giving states control over energy development on America’s public lands.  This is a misguided proposal that would end the tradition of managing lands that belong to the entire country for the wide array of resource values to “meet the present and future needs of the American people.” Instead, on a state by state basis these unparalleled national assets – including national parks – could be turned over to energy companies, making energy development the primary use of the land, at the expense of grazing, hunting, fishing, and all other forms of recreation. A similar proposal was too radical even for arch conservative Arizona Governor Jan Brewer. She vetoed a bill turning all federal lands over to her state.

3. Romney and Ryan would cede clean energy innovation, exports to China, Germany, other nations. They outsource energy jobs to our greatest competitors.

The worldwide market for clean energy technologies will be $2 trillion by 2020. Yet Romney and Ryan would cede this market to other nations by opposing incentives to help emerging technologies grow to scale. Romney and Ryan oppose the extension of the Production Tax Credit to encourage wind energy. The PTC helped the U.S. double its wind electricity generation over the past four years, and ending it could cost at least 37,000 jobs this year.

An American Wind Energy Association analysis predicts that New Mexico and Texas could lose up to 5,000 and 20,000 jobs, respectively, if the PTC expires.

4. Romney plan won’t reduce oil and gasoline prices

Romney falsely claims that his energy plan will “lower energy prices.”  Oil prices are set on the global market, regardless of domestic production. Even oil independent nations such as Canada experienced high gasoline prices this year. The Wall Street Journal reiterated that “Producing a lot of oil doesn’t lower the price of gasoline in your country.” To determine whether domestic oil production lowers gasoline prices, the Associated Press analyzed 30 years of production and price data. AP determined that there is:

“No statistical correlation between how much oil comes out of U.S. wells and the price at the pump.”

5. Romney and Ryan support continuing mercury contamination from power plants

The Obama administration issued overdue reduction standards for mercury and cancer causing pollution from power plants.  The standard saves thousands of lives of children, seniors and other vulnerable people. Yet Romney promises to undo it on his very first day in office by issuing an executive order that

“Directs all agencies to immediately initiate the elimination of Obama-era regulations that unduly burden the economy or job creation.”

The Mercury and Air Toxics Standard will produce “$3 to $9 in health benefits” for every dollar in pollution reduction costs, according to EPA.

In spite of record-breaking temperatures, severe droughts and raging wildfires plaguing the U.S. this year and worsened by manmade climate change, Mitt Romney has put the interests of big donors over science once again. The Romney-Ryan energy plan is simply a handout to their biggest polluter supporters, ignoring the devastating impacts of continuing to rely on a fossil-fuel based economy that does nothing either to address the growing threat of global warming or to increase our competitiveness in the growing clean energy economy.

— Daniel J. Weiss is a Senior Fellow and Director of Climate Strategy at the Center for American Progress Action Fund, Noreen Nielsen is CAPAF Energy Communications Director, and Christy Goldfuss is the Public Lands Project Director.

21 Responses to Big Oil Buys Gusher: 5 Pro-Oil Planks In Romney Energy Plan

  1. Bill says:

    As they said in Casablanca

    “I’m shocked, shocked to find that gambling is going on in here.”

  2. Leif says:

    The biggest sell out in my view is not discussed at all. That, IMO, is the right of the select few to profit from the pollution of the commons. I can’t do it. You can’t do it, unless you get some skin in the game. Corporations, now Corpro/People, can do it. That ability has produced the wealthiest corporations in the world and becomes self fulfilling in that as their the wealth grows, so does there influence. (Money now votes!) All built on the ability to exploit and pollute the commons for profit. The very foundation of capitalism. Throw a paper cup out the car window, you get fined. You don’t. Pollute the commons with toxic chemicals that are threatening the survival of species world wide out the tail pipe? It is all good because the “Right” Corpro/People get rich. The GOP do not fund abortion with their tax money. Fine, a precedent! How come my tax money funds the the destruction of Earth’s Life Support Systems via subsidies to ecocide fossil fuel barons and I cannot even get the question addressed, much less stopped? Stop profits from the pollution of the commons, humanity might just have a chance, if not it looks like Toastville for the Kidders…

  3. Zimzone says:

    Great point.
    Double standards & stupidity abound today.

    Unfortunately, stupidity remains legal…

  4. Robert E. Huie says:

    Drain America first! Isn’t this a proposal to destroy the American chemical industry?

  5. William Scanlon says:

    Wow the selling off of America. I really hope Americans are smart enough to not vote this idiot Romney in. Sure this all sounds good for the short term bottom line. Problem is it is short sighted to sell off to the lowest bidder. The economy will work without RandRs interference. Like I said earlier this morning The Romney/Ryan campaign is behaving like a drug dealer: hand out Crack to the wealthy and to the MULTI-NATIONAL CORPORATIONS that have no particular allegiance to the USA but will do whts necessary for max profit. Give the uber-wealthy a tax break it is like a drug. Once you give it to them once they will want more. Romney feeds Americans more BULLS#$T is tomorrows headline.

  6. Mike says:

    Also included in his policy is approval of the Keystone XL pipeline. This is a pet project of Republicans because they know that it’s very easy to lie about. They want to manipulate and trick people into believing that it will do all sorts of wonderful things, meanwhile, it will destroy the planet and just make the wealthy more wealthy.

    Republicans push the Keystone XL pipeline because they are lying.

    1) The pipeline will divert oil away from the US, driving up oil prices, not bringing them down.
    2) Since the oil would be destined for use outside of the US, the pipeline would do nothing to make us “energy independent”
    3) It would not create 1 million, 20K, or even 6.5K jobs as Republicans claim. Those numbers are either completely made up (by FOX) or based on such ridiculous metrics such as “if you have a job for 5 years, that counts as creating 5 jobs.” It would only create 500-1400 temp jobs, with the long-term effect of destroying jobs.
    4) More jobs would be created if we embraced green energy, rather than continuing to support oil companies.
    5) Global Warming is real, and is caused by extracting oil from the ground and burning it. Jim Hansen – our foremost climatologist – said of the Canadian tar sands: “tap this stuff heavily, and it’s game over for the climate.”

  7. Earl Richards says:

    Big Oil, Wall Street and the GOP area are a bunch of morally, bankrupt jerks. Romney is already oil-bought. Romney/Ryan will be worse than Bush/Cheney.

  8. Jan says:

    “Money doesn’t talk, it swears” Dylan

    O, The Kochs grew fat on their fossil fuels,
    And hired a nest of false fossil ghouls
    Who fed lies to the minions of fossil fools
    As they vote for the Koch-sucking fossil tools
    So more treasure protects the Koch’s deadly rule.

    Romney is already (today) telling the electorate that we need to drill more in this country, that it will hurt the economy otherwise. Even were there no such thing as climate change, he would be wrong. Wind/solar industries are growing and create more jobs. Keystone brings us nothing but trouble. And WITH c/c…?

  9. Dennis Tomlinson says:

    The mark has taken the bait. The R&R (it matters not which R is first) is now committed to the wrong side in the debate on the future of our home planet. Master political chess player B. Obama can now saunter into the other side of the debate with a 75%-25% starting advantage; win re-election in a landslide; become a world-leading advocate in the War on CO2; avert runaway climate change; and make the future safe for the grandkids.

    And then I woke up.

  10. richard wiscomb says:

    My god if these two clowns are elected no more middle class you will have the rich and than the poor. I can not believe white poor and middle class people are falling for there lies
    why would somebody vote for more tax breaks for the top 2% and have there taxes go up to give the rich more tax break’s. America has to be the most uninformed and un logical people in the world when it comes to voting for there own self interest.

  11. Mulga Mumblebrain says:

    In certain circles it has become compulsory.

  12. Mulga Mumblebrain says:

    Pleonexia is, by definition, insatiable.

  13. Mulga Mumblebrain says:

    Like Coleridge. ‘Hopium’ produces the most wondrous dreams.

  14. We seem to have reached the stage of post truth politics and we have a media that, for the most part, is not willing to server the public. Like, when they tell us what a politician says, is there not an obligation to also mention whether the politician’s statement is factually true. If they don’t do this, then what function do they perform… oh sorry, to keep us up to date on celebrity gossip.

    He said, she said, or sports reporting reading of the score card (latest poll) is not serving the public. Every time we post here, we must also make sure that the leading media folks know just how much more we expect than they are deelivering.

  15. I hope you realize the Obama will build the rest of the Keystone XL Pipeline too. Nader was right in that there is little difference between the two major parties on issues like this… social issues are different, but not energy / economy.

  16. Sally Morita says:

    Nadar didn’t see enough difference between Al Gore and George W. Bush either.

    I don’t know anyone who believes Al Gore would have gotten us bogged down into two wars which resulted in hundreds of thousands of civilian Iraqi and Afghan lives and what is probably now over ten thousand American lives, not to mention the tens of thousands who have been left to suffer from their injuries.

    And you know Gore would have been much more serious about climate change.

  17. NWA Granny Who Cares says:

    I laughed out loud as I watched Romney run through his pat little speech about raping the earth–including Federal Lands–for oil and gas. (See C-Span) He was at a tire store in Hobbs, NM. While he was pandering to the rich oil and gas dudes, the WIND was really blowing, even interrupting his pat speech at one point and slightly fluffing some of his lacquered hair! You go, WIND! And you, go, President Obama, as you work for alternate energy sources–one sane voice in an increasingly insane America!

  18. Mulga Mumblebrain says:

    As Ralph Nader said, upon Obama’s election ‘Prepare to be disappointed.’ Not so hard really-like Chomsky he simply looked at Obama’s real record, not his honeyed tongue.

  19. PJMD says:

    Only if we MAKE HIM DO IT!

    Nice dream, by the way. “And now it seems, everybody’s havin’ them dreams”

  20. Paul Klinkman says:

    “What Climate Change?” is the key question with Katrina on the brain all week.

  21. Rakesh Malik says:

    Americans will vote in whoever has the most expensive ad campaign. The issues, their lies, their track record, the fact that they’re shirking their jobs to go on tour on our dime, none of that makes a damn bit of difference.

    In the end, it’s all about money, and who does a better job of buying the election than the others.