As Republicans and Democrats meet at their conventions to propose policies for the next four years, the contrast between Republican and Democratic energy policies is greater than ever.
Republican Speed it up It would cut oil and natural gas production, eliminate electric vehicle purchase mandates, eliminate subsidies for renewable energy, and end dependence on China. Democrats propose electrifying the energy supply, removing gasoline-powered vehicles and natural gas appliances from the economy and replacing traditional fuels with solar and wind power. (Related: David Blackmon: The flood of energy absurdity will never stop)
Through a series of executive orders and regulations, President Joe Biden Diminished Federal Oil and Gas Leasing. The United States 373.1 Technically recoverable crude oil resources are 1 billion barrels, 2,973 There are 1 trillion cubic feet of technically recoverable natural gas resources, equivalent to an 85-year supply, and the next Republican administration is expected to encourage production and use these resources to lower energy prices both at home and abroad.
A Republican president would be able to reverse Biden's executive orders and regulations. Increasing energy production is No. 4 of his 20 pledges. 2024 Republican Policy Platform“We will keep drilling, drilling, drilling until we become energy independent and even dominant again. America has more liquid gold than any other country, and we're not even close. Republicans will harness that potential to power our future.”
A Republican administration would allow car choice. Republican Platform They are calling for the EV mandate to be repealed.
The Biden administration Inflation Control LawCompanies will be paid to manufacture these EVs, and consumers will receive tax credits to buy them. Required By 2032, 70 percent of new cars and 25 percent of new trucks sold will be battery electric or plug-in hybrids.
The Biden administration has placed a strong emphasis on wind and solar power supply. Billions With tax deduction Infrastructure and Employment Law and the Anti-Inflation Act, which determines who is eligible to receive funding for energy projects, either directly or through access to banks and Wall Street investors.
But government control of energy is control of the people and the economy, which is one of the reasons why the trend toward nationalization of the energy industry through government decrees, bans on the production and use of oil and natural gas, and reorganization of the power grid is so dangerous.
Under a new Republican administration, the Federal Energy Regulatory Commission would focus on speeding up pipeline approvals rather than delaying them, the Bureau of Land Management would prioritize approvals for onshore and offshore drilling permits, the Securities and Exchange Commission would no longer review the climate impacts of corporate investments, and the Office of the Comptroller of the Currency would no longer review the climate impacts of bank loans.
The Democratic Party's energy policy is increasing our dependence on China. Accounts for approximately 80% of Batteries of the world Seven of the world's 10 largest solar panel manufacturers and seven of the world's 10 largest wind turbine manufacturers are based in China. China has monopolies over critical mineral resources, including: lithium The company sources the cobalt it needs for its EVs through its own mines and by purchasing mines in Africa and Latin America.
Trade with China is neither free nor fair. China subsidizes labor, capital, and energy, which allows it to produce low-cost products. China uses forced labor in Xinjiang, provides cheap loans to favored companies, and is not bound by Western clean energy regulations.
The next administration should leverage America's domestic resources to provide the tools we need to support our allies and deter our adversaries.
Diana Ferchtgott Ross is a former Assistant Secretary for Research and Technology at the U.S. Department of Transportation and currently director of the Heritage Foundation's Center for Energy, Climate, and the Environment.
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