Ending Energy Dependence

For too long, America has been entangled with and dependent on foreign suppliers of oil. As long as America imports much of our oil from unstable regions and countries around the world, our national security and economic prosperity is threatened. Because Energy independence is crucial to our economy and our national security, we must establish it as a top administration priority, and lead the U.S. to a future with affordable and secure Energy.

CHALLENGE: For too long, America has been entangled with and dependent on foreign suppliers of oil. Since the 1970s, Americans have endured and been vulnerable to economic shocks caused by our reliance on foreign oil. In recent years, the price of oil has tripled, putting pressure on the American economy. As long as America imports much of our oil from unstable regions and countries around the world, our national security and economic prosperity is threatened.

GOVERNOR ROMNEY: "We use about 25 percent of the world's oil supply to power our economy, but according to the Department of Energy, we possess only 1.7 percent of the world's crude oil reserves. Our military and economic strength depend on our becoming Energy independent – moving past symbolic measures to actually produce as much Energy as we use." (Governor Mitt Romney, Rising To A New Generation Of Global Challenges, Foreign Affairs, July/August 2007)

GOVERNOR ROMNEY: "The United States must become Energy independent. This does not mean no longer importing or using oil. It means making sure that our nation's future will always be in our hands. Our decisions and destiny cannot be bound to the whims of oil-producing states." (Governor Mitt Romney, Rising To A New Generation Of Global Challenges, Foreign Affairs, July/August 2007)

The Romney Plan: Achieve Energy Independence Through Innovation

Provide Presidential Leadership. Because Energy independence is crucial to our economy and our national security, establish it as a top administration priority, and lead the U.S. to a future with affordable and secure Energy.

Invest In Research. Dramatically increase federal spending on research, development, and demonstration projects that hold promise for diversifying our Energy supply and increasing our Energy efficiency, such as:

Basic research in key technologies like improved Energy storage
Bringing clean Energy technology to market through commercialization of large-scale renewables and advanced nuclear technologies
Improved smart-grid technology for power distribution
Clean, efficient uses of existing fossil fuels, e.g. clean coal, coal-to-liquids, carbon sequestration

Increase Focus On Energy Security. Shift federal priorities to emphasize issues of Energy security, particularly at the Department of Energy.

Promote Nuclear Technology. Accelerate construction of new nuclear power plants in order to ensure that nuclear power continues to be a part of a robust, cleaner, and reliable Energy mix.

Increase Domestic Production. Pursue our domestic sources of Energy, drawing from our broad and diverse base of options, including opening ANWR to oil and natural gas development.

GOVERNOR ROMNEY: "I want to initiate a bold, far-reaching research initiative – an Energy Revolution, if you will. It will be our generation’s equivalent of the Manhattan Project or the mission to the Moon. This will be a mission to create new, economic sources of Energy, clean Energy. We will license our technology to other nations and of course we will employ it here at home. It will be good for our national defense, it will be good for our foreign policy, it will be good for our economy." (Governor Mitt Romney, Remarks At The George Bush Presidential Library Center, 4/10/2007

GOVERNOR ROMNEY: "This kind of Energy independence will also mean pursuing ample domestic sources of Energy: more drilling offshore and in ANWR, nuclear power, renewable sources, ethanol, biodiesel, solar, wind, and full exploitation of coal – both solid and liquid." (Governor Mitt Romney, Remarks At The George Bush Presidential Library Center, 4/10/2007