Today Mitt Romney held a speech on the border of Texas and New Mexico where he laid out his plans for the US’s energy future. And if two words come to mind from his proposals they are these: Robbery and Ruin.
Just yesterday, Romney received more than $10 million dollars in campaign contributions from the coal and oil industry. Money he is trying to hand back many times over in special perks, subsidies, and give-aways to his big polluting backers.
First, Romney proposes to take public lands from the people of the US and hand it over to states who would then be encouraged to give these land rights, free of charge, to oil, gas, and coal companies. He would take a resource in the public trust, one of America’s great treasures, and hand it over to what amounts to a group of corporate looters. The ghost of Teddy Roosevelt must be turning over in his grave as Romney offers up this sacrifice to his corporate masters. For it would result in public lands being transformed from something like this:
Into something like this:
Romney’s second big giveaway is to cut taxes for the highly profitable oil companies again. I say again because it was the same thing Bush did when he was elected back in 2000. And it is also ironic to see a massive influx of Bush energy advisers finding places of prominence on Romney’s energy team.
This year, oil companies already received more than 2.3 billion dollars in subsidies and tax assistance. This public support after having recorded over $137 billion dollars in profits. But Romney seems to think that greed is its own virtue and has decided to give another 2.4 billion away in additional tax breaks. This 5 billion dollars in tax-payer support each year would come on top of record profits from the highest oil prices ever and the great American land giveaway described above.
But Romney’s plan goes still further. Romney would cut regulations that keep coal companies from dumping massive volumes of mercury into the air and water. Coal companies have often complained that the public health protection measure is too expensive. But what Romney and his coal backers don’t reveal is that the added pollution kills more than 30,000 people each year. For Romney and big coal, profits are far more important than lives. So the protections for Americans must go.
In general, all these policies draw support from a vast and ongoing denial over the damage caused to the United States by an intensifying climate crisis. Just this year alone, over $100 billion in damages will likely be inflicted on the US economy by a number of climate-related disasters. Romney’s push to double down on big oil and big coal will only worsen the damage that is still to come.
Romney’s plan is first a dire insult to American interests in the form of a giveaway to a destructive industry. Romney’s plan is second a harm that results in added toxins spewed into the atmosphere and an ever-decreasing likelihood of dealing with the ongoing climate crisis.
But the crowning black jewel to the whole dark and devastating Romney energy policy is this: attack the wind and solar industry.
Romney plans to bring down all competitors to oil and coal through direct policy measures. He is gunning to devastate the wind and solar industry by removing the production tax credit even as he pushes to further subsidize the heavily polluting oil and coal industries. His plan would gut US innovation and progress in wind and solar energy. It would cede leadership in a 2 trillion dollar alternative energy market to China and Germany. And it would result in the loss of tens of thousands of US jobs. Worse, it would remove the prospect for creating hundreds of thousands more jobs in the future and shackle us to an energy source that is bound to abandon us during our hour of greatest need.
Republicans and Romney often deride industries that require subsidy support. However, the oil and coal industry still receive subsidies after more than 150 years of operations. The level of subsidies they receive is far higher than those of the burgeoning alternative energy industry. Typically, for a new industry to effectively get off the ground it needs a higher level of support than a traditional, established industry. And considering that the oil industry has become so profitable through its effective cornering, total dominance and monopolization of all transportation markets, giving it any subsidy at all simply amounts to paying tribute to a tyrant. It is unnecessary, wasteful, and encourages the worst behavior.
Yet this is exactly what Romney and Ryan are pushing to double down on. And they would lay the slain carcass of the alternative energy industry at the feet of their fossil fuel masters.
Given the intensifying climate crisis. Given the depleting and increasingly expensive fossil fuels. Given the need for America to create sustainable jobs in a sustainable industry. And given the fact that if we fail to lead in the alternative energy revolution, others will in our stead, it is absolutely necessary that the American public reject Romney. Reject Ryan. Reject robbing from the American people for the profit of special interests and reject policies that will ruin our future. And, last of all, reject the vicious and anti-American agenda of the oil and coal company barons who stand behind them.