As Republicans and Democrats meet at the conventions and propose policies for the next four years, the contrast between Republican and Democrat energy policies could not be greater.
RepublicansĀ would speed up oil and natural gas production; eliminate mandates to purchase electric vehicles; get rid of subsidies for renewables; and end dependence on China. Democrats propose to electrify the energy supply, ridding the economy of gasoline-powered vehicles and natural-gas appliances and substituting solar and wind for legacy fuels.
Through a series of executive orders and regulations, President Joe Biden has reducedĀ federal oil and gas leases. America hasĀ 373.1Ā billion barrels of technically recoverable crude oil resources, andĀ 2,973 trillion cubic feet of technically recoverable natural gas resources ā an 85-year supply. Expect the next Republican administration to encourage production and use these resources to lower energy prices at home and around the world.
A Republican president would be able to reverse Bidenās executive orders and regulations. Increasing energy production is fourth out of 20 promises in theĀ 2024 Republican Platform, āWe will DRILL, BABY, DRILL and we will become Energy Independent, and even Dominant again. The United States has more liquid gold under our feet than any other Nation, and itās not even close. The Republican Party will harness that potential to power our future.ā
A Republican administration would allow a choice in cars. TheĀ Republican Party PlatformĀ calls for cancelling the mandate for EVs.
The Biden administration is subsidizing electric vehicles through the Inflation Reduction Act. Companies are paid to manufacture these EVs and consumers get tax credits to buy them. The Environmental Protection Agencyās final tailpipe ruleĀ would requireĀ 70% of new cars sold and 25% or new trucks sold to be battery powered electric or plug-in hybrid by 2032.
The Biden administration has focused on providing wind and solar power throughĀ billionsĀ in tax credits in theĀ Infrastructure and Jobs ActĀ and the Inflation Reduction Act. Either directly or through access to banks and Wall Street investors, it is deciding who is suitable to receive funding for energy projects.
But government control of energy is control of people and the economy. This is one reason why the trend toward nationalization of our energy industry through government mandates, bans on the production and use of oil and natural gas and reorganization of the electric grid is so dangerous.
Under a new Republican administration, rather than slowing down pipeline approval, the Federal Energy Regulatory Commission would focus on speeding it up. The Bureau of Land Management would prioritize approving both onshore and offshore drilling permits. The Security and Exchange Commission would no longer look at climate effects of companiesā investments, and the Office of the Comptroller of the Currency would not look at the climate effects of bank loans.
Democrat energy policies increase dependence on China because ChinaĀ makes nearly 80%Ā of theĀ worldās batteriesĀ and is home to 7 out of 10 of the worldās largest solar panel manufacturers, and 7 out of 10 of the worldās largest wind turbine manufacturers. China dominates the critical minerals such asĀ lithiumĀ and cobalt required for EVs through its own mines and by purchasing mines in Africa and Latin America.
Trade with China is not free or fair. China can produce lower-cost goods because it subsidizes labor, capital and energy. It uses forced labor from Xinjiang; gives low-interest rate loans to favored companies; and is not bound by the clean energy regulations of the West.
The next administration should use Americaās domestic resources and provide tools to assist our allies and deter our adversaries.
Diana Furchtgott-Roth, former deputy assistant secretary for research and technology at the U.S. Department of Transportation, is the director of The Heritage Foundationās Center for Energy, Climate and Environment.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
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