Obama and Romney on Energy Issues
November 7, 2012

Energy issues have long been a major topic in presidential election campaigns, and this year is no exception. The details do vary every four years, however. In 2012, the swift development of shale gas fracking has made natural gas substantially cheaper, and increasing oil prices have made exploiting shale oil deposits highly profitable, opening up new reserves. But reducing carbon emissions has become more critical than ever, as climate change's effects become more apparent .
The best energy policies are not always obvious. For instance, cheaper natural gas is displacing more expensive and dirtier coal, leading to fewer carbon emissions. But many are worried about environmental impacts provoked by the hydraulic fracturing of rocks to release natural gas, including water contamination and the release of methane into the atmosphere.
It is not surprising, therefore, that Barack Obama and Mitt Romney offer different visions of what America's energy policy should be. While both presidential candidates are in favor of expanding oil and gas drilling, both support the development of natural gas resources and hydrofracking, and both would like to see more North American energy independence, their opinions differ on some key energy issues, as outlined in the table below.
Energy Issue | Barack Obama | Mitt Romney |
Climate Change | Obama | Romney |
Climate Change | Believes it is one of the biggest issues of this generation | Believes there is a lack of scientific consensus on climate change |
Policy reaction to climate change | Need smart policies that lead to growth in clean energy and result in social and economic benefits | Climate change science is an input to public policy decision but should not dictate a particular policy response |
Carbon Emissions | Obama | Romney |
Carbon-pollution limits (e.g. cap and trade) | Proposed carbon-pollution limits (cap and trade) | Against carbon cap and trade (because it could devastate the U.S. economy) |
The Environmental Protection Agency's power to regulate carbon dioxide (a part of the agency's Clean Air Act mandate) | Maintain EPA's authority | Strip EPA of its authority |
Renewable Energy &
Energy Efficiency |
Obama | Romney |
Clean energy goals | Vows that 80% of U.S electricity will come from renewable resources by 2035 | States that Obama's goals are running "on faith rather than fact" |
Clean energy research and development | Funded the Department of Energy's Advanced Research Project Agency-Energy (ARPA-E) which focuses on transformational energy research | Concentrate alternative energy funding (such as long-term, apolitical mechanisms like ARPA-E) on basic research |
Tax credits for renewable energies | Maintain incentives for renewable energy (wind and solar power generation have doubled during Obama's administration) | Stop "wasteful" subsidies (windmills and solar plants have failed to become economically viable). The government should not steer investment toward politically favored technologies |
Specifically: Production tax credit for wind energy projects | Renew wind energy production tax credit | Let wind energy production tax credit expire |
Energy efficiency standards | Supported new efficiency standards | Supported energy efficiency initiatives as governor of Massachusetts but views Obama's energy efficiency standards as extreme |
Federal mandate for ethanol use in gasoline (requires refiners to use a minimum amount of ethanol) | Maintain the federal mandate for ethanol use | Maintain the federal mandate for ethanol use |
Federal standards for fuel efficiency of cars and light trucks | Raised federal standards to 54.5 MPG by 2025 | Opposes federal standards |
Fossil Fuels | Obama | Romney |
Tax breaks and incentives for oil and gas drilling ($4 billion a year) | Eliminate oil and gas tax breaks | Keep oil and gas tax breaks (accuses Obama of "waging a war" against coal and oil industries) |
Drilling on federal lands and waters | Open more offshore areas for drilling (e.g. off Virginia) and maintain leases in the Chukchi and Beaufort Seas of Alaska. Maintain moratorium off the Pacific and most of the Atlantic coasts | Open all federal lands and waters for drilling (including the entire Pacific and Atlantic coasts and the Arctic National Wildlife Refuge) |
Interior Department's ability to lease and issue permits for drilling on federal lands and water | Maintain Interior Department's leasing authority | Strip Interior Department of this power and give it to states (which, Romney believes, will issue permits faster and more efficiently |
EPA regulations on coal development | Maintain and strengthen coal regulations to reduce greenhouse gas emissions (many aging coal plants are being replaced with natural-gas fired plants) | Remove obstacles and EPA regulations on coal |
Use of hydraulic fracturing in drilling | Supports, but should be subject to federal safety standards | Supports, but should be regulated by the states |
Keystone XL pipeline (which would carry crude oil from Canada to the Texas Gulf) | Approved southern leg of the pipeline but remains undecided about the northern leg | Would approve on day one of his administration |
Nuclear Energy | Obama | Romney |
Future of nuclear power | Conditionally committed to support the financing of the first commercial nuclear power plant approved in the U.S in more than 3 decades. | Expand Nuclear Regulatory Commission’s (NRC) capabilities for approval of additional nuclear reactor designs. Streamline NRC processes to ensure that licensing decisions for reactors on or adjacent to approved sites, using approved designs, are completed within two years. |
Sources
- Ahead of the 2012 Vote, Energy Generates a Lively Debate
- Mitt Romney: Energy
- Obama vs. Romney: A Stark Contrast on the Environment
- Obama vs. Romney: Where Their Energy Policies Differ
- Ryan Backs Romney on Wind Energy Tax Credit
- Science Debate: The Top American Science Questions 2012
- The White House: Securing American Energy
- The White House: Obama Announces $4 Billion Investment to Make Buildings More Energy Efficient