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The Schork Report’s Stephen Schork on Mitt Romney’s plan for the U.S. to achieve energy independence by 2020.
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Sources that we can get from Canada from Mexico as well as tight oil here.
Biofuels here onshore that energy and offshore gets North America to energy independence within eight years.
That's something people have been talking about for a long time it's something -- committed to doing.
That was Mitt Romney laying out his plan for energy independence in an exclusive interview today on Fox Business.
He wants to see America energy independent by 20/20.
-- to bring an energy analyst and -- Are performing even short Stephen thanks for joining us tonight.
Not great to be here thank you so what do you think Romney's plan is energy independence and eight years are really -- realistic goal.
-- the fact that we can even talk about energy independence at this stage is just quite remarkable.
We have to remember even ten years ago not even ten years ago.
The market was concerned that North America -- was running out of its energy resources.
So -- the Romney plan what we're getting now is that decision whether we want to stay with the current top down.
Command driven economy with regard to energy policy.
Where an ever increasing amount of our source of energy is dictated to us by government Fiat.
Or do we want to go the other methods allow market forces allow price to dictate where we get our sources.
Now what we've seen here are how do you asked do we go from natural gas where it -- Canada the United States was running out of the stuff ten years ago.
To now to the point where we might have enough gas in this country and intended to last this next 100 years and we even talking about potential and -- energy independence.
This is what we're getting this is the decision that we have to we wanted to stay on the current path of command driven or -- wanna go demand driven.
Well we really have an outline of the plan at this point Steven but billionaire oil man and tycoon.
Boone Pickens just came out and said.
You know I backed the plan I support the plan -- heard the plan however and he was concerned about the lack of mention of natural gas in there.
Well given the way he's been touting his his plan though over the a lot -- -- irrational.
Well yeah well that not just that we're real the real par -- with our box but I know the the general outline.
First and foremost is Romney -- wall according to the planet -- on day one fast track the Keystone Pipeline.
And this suggests that a decision that made absolutely no sense it was a no brainer to appropriate.
We have a tremendous amount of oil sitting up in North Dakota Montana up through -- -- Get that oil to the market the fact that we nixed the the plan based purely on.
Up political lines absolutely makes no market cents so that's first and foremost the second -- key point coming out the plan.
Was to hand more power take it away from the federal fallout from the federal system and landed back to the states the states are in the best possible decision.
Opposition to make the decisions with regard to accessing the resource is given these specific geology each individual state.
We just have to look at north -- to see how successful this could be.
And a time where we cannot federally get unemployment below 8% North Dakota has -- just over 3%.
The state now is producing more oil -- Ecuador in fact the State's business so much oil.
It qualifies as an OPEC member so give this dates back more power to access the resource they have.
More taxes they have the more product gets the market it goes hand in hand high prices are the best cure for high prices.
It worked for natural gas let it work for oil.
They're talking to a former trader you don't have to teach me that one.
He but you know you talk about jobs and that is it crucial aspect of all this -- says that the keystone pipe while create three million jobs.
But the approval of the Keystone Pipeline is just one aspect of his new energy plan.
More drilling fewer federal regulations.
I'm curious Stephen if there is anything in this plan that you didn't like.
What I would've liked it seemed more.
I attention being paid towards renewables.
I think my biggest knock -- the current administration is they played a zero sum game.
Where -- date regardless of price.
Are dictating how supplies getting to the market I think all options should be on the table at this point I did not see anything detailed in the Romney plan.
I would like to see good more investments more research into the feasibility of renewables trying to decide which renewables work.
But at the same time not to the detriment of other.
The sources of hydrocarbons the biggest concern is I would like I would have liked it seen or I'd like to see more I detail on what they do plan to do investing in the renewable sector.
RA we're gonna have to leave it there but Stephen your real quick forecast do you believe that if this plan was implemented we would see lower oil and gasoline prices.
Dot indeed indeed with all the good -- you've got oil trapped in the -- North Dakota.
And Canada which is 152030.
-- below the global price of oil get that oil to the market it -- more supply.
Get a not the market our rights even shark of the -- report thanks for joining us.
