Tuesday, September 29, 2015

Event:            Governor Bush to Deliver Energy Policy Address

Location:      Rice Energy Company

400 Woodcliff Drive

Canonsburg, PA 15317

Unleash the Energy Revolution

The Energy Revolution and Growth

A Once-in-a-Generation Economic Opportunity

A Manufacturing Renaissance, a million new jobs

An Energy Plan for Americans to Rise

1. Lift Restrictions on Exports of Oil and Natural Gas

Current law bans the export of crude oil and makes it difficult to export natural gas to non-Free Trade Agreement countries such as Japan, China and the European Union.

Lifting the ban on crude oil exports and liberalizing natural gas exports would create hundreds of thousands of additional jobs and significantly lower net energy costs within two years. For instance, estimates from various studies indicate retail gasoline prices would drop by approximately 6 cents a gallon within 2 to 3 years of lifting the crude oil ban.

2. Approve the Keystone XL Pipeline

President Obama and Hillary Clinton have baldly politicized the government permitting process by opposing the Keystone XL pipeline. After seven years and an unprecedented level of environmental review, there is now no credible reason for the President to stand in the way of this privately-funded project. Its approval would increase GDP by over $3 billion and support 42,000 jobs while the pipeline is under construction. Once built, it will be an essential piece of infrastructure more safely and cheaply moving both Canadian and U.S. resources to consumers.

3. Reduce Overregulation

Energy resources must be developed in a way that protects human health and the environment. Rules play an important role in making sure this is the case. But the Obama Administration’s excessive rules too often usurp state and tribal authority and go beyond what is necessary.

Overregulation affects energy directly and indirectly. Some new rules, such as overwriting state and tribal standards for hydraulic fracturing operations, directly discourage investment in domestic oil and gas operations. Other, broader regulations, such as Obama’s Carbon Rule, attempt to impose the President’s conception of how everyone should produce and consume energy.

The damaging effect such heavy-handed regulation has, not only on energy security but on American households, is largely hidden to the average consumer. For instance, unless it is quickly addressed by the courts, in the near-term, Obama’s Carbon Rule will increase electricity prices for everyone and threaten the system’s reliability.

Obama’s Carbon Rule will increase electricity prices for everyone and threaten the system’s reliability

Perhaps worse, such regulation saps America’s dynamism. We have, thus far, benefited from the Energy Revolution simply because Washington did not have time to quash it, but we will never know how many other innovations have been lost due to overregulation.

Addressing this regulatory mess requires a president willing to restore regulators’ accountability to the American people.  A week ago, I proposed significant reforms that will broadly improve the rulemaking process. Because affordable energy is so important to American families and our economy, rules and permitting practices that unnecessarily suppress domestic energy production and raise prices need to be immediately addressed by the next president. Some, such as Obama’s Carbon Rule, need to be stopped in their tracks.

Rules and permitting practices that unnecessarily suppress domestic energy production and raise prices need to be immediately addressed by the next President.

4. Defer to Willing States and Tribes

At least two states, Alaska and Virginia, have expressed an interest in further developing energy resources but have been thwarted or constrained by the Obama Administration. For instance, Alaskans overwhelmingly want to develop onshore and offshore energy resources in or near their state. Yet the President has severely limited the extent to which these lands can be explored and developed. Even more extreme, Hillary Clinton has indicated she would flatly prohibit drilling off the northern coast of Alaska.

This must change. Washington should generally defer to the will of states and tribes. Their citizens and leaders are best able to weigh the benefits and costs of oil and gas development.

Sustaining Growth

Once achieved, the nation must maintain higher growth with energy policies that continue to increase jobs and lower costs over the long-term. In the coming months, I will release additional proposals that will complement our status as an energy superpower by revitalizing our position as the superpower of energy innovation.

For instance, we can further accelerate the discovery of game-changing technologies by boosting funding for high-priority basic research and increasing the effectiveness of our national labs. The private sector often underfunds energy research that could greatly benefit society. Government can correct that. My record and experience in Florida shows how world-class research contributes to jobs and technological advances that can improve everyone’s quality of life.

In addition, we must create a level playing field for all energy sources including, but not limited to, nuclear, renewables, coal, natural gas, oil and alternative fuels. We unnecessarily drive up energy costs on Americans when we play favorites and suppress the dynamism of free markets.

Further, producers and consumers must have better access to new technologies such as “intelligent” electricity management devices, unconventional transportation fuels, advanced nuclear power designs and cutting-edge energy conservation methods. We must remove burdensome government regulations, subsidies and other barriers that get in the way of adopting and exploiting such innovations.

Energy, Unleashed, Can Help All Americans Rise

Taken together, these policies will fully unleash the Energy Revolution, creating more jobs, higher wages, cheaper gas and cheaper electricity, while better protecting our interests abroad and our environment. This plan will help us quickly achieve, and sustain, 4% economic growth.

With North American resources and American ingenuity, we can finally achieve energy security for this nation – and with presidential leadership, we can make it happen.

But to achieve these policies, we have to change the way Washington works. And we have to change who we send there to lead. With North American resources and American ingenuity, we can finally achieve energy security for this nation – and with presidential leadership, we can make it happen in the near-term. If we do all of this, and if we do it right, we will make the United States of America an economic superpower like no other.

DNC Response to Bush's Energy Plan