“Let the US Export Oil and Natural Gas”
Former Florida Governor Jeb Bush released his official energy plan today, outlining four initiatives that his plan states will create one million manufacturing jobs.
- Lift Restrictions on Exports of Oil and Natural Gas: “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.”
- Approve the Keystone XL Pipeline: “Its approval would increase GDP by over $3 billion and support 42,000 jobs while the pipeline is under construction.”
- Reduce Overregulation: “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. Rules and permitting practices that unnecessarily suppress domestic energy production and raise prices need to be immediately addressed by the next president.”
- Defer to Willing States and Tribes: “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…[rather than] preventing willing states, such as Alaska and Virginia, from fully developing energy resources.”
The Bush energy plan website reports, “Dartmouth University found that every $1 million of oil and gas extracted from an oil or gas well generates, within 100 miles of that well, an additional $263,000 in wages and 2.8 new jobs. This plan will help us quickly achieve, and sustain, 4% economic growth.”
