President Obama Has Helped Reduce Our Dependence on Foreign Oil to a 20-Year Low; Romney and Ryan Shill for Big Oil and Would Take Us Back to the Failed Policies of the Past
Energy Independence: President Obama believes America’s energy independence is critical to creating jobs here at home and creating an economy built to last.
- President Obama has taken concrete steps to make us more energy independent by out-innovating and out-building our competitors around the world.
- Romney would cede leadership of critical energy sectors of our economy to competitors like China and India – and the jobs that go with them – by slashing investments in clean energy and energy efficiency.
Oil Imports are Down: Our dependence on foreign oil has reached a 20-year low, down 25 percent since President Obama took office. Our oil and petroleum imports fell by about 3 million barrels a day since 2008, a nearly 30 percent drop. We import less than 43 percent of our oil, down from nearly 60 percent in 2008.
- The President believes we can’t just drill our way to lower gas prices and his all-of-the-above strategy will keep creating jobs and developing homegrown American energy.
- Mitt Romney and Paul Ryan’s only solution is drilling.
Domestic Production Is Up: Oil production has gone up every year since the President took office, and domestic oil production is at a 14-year high.
- President Obama believes we can responsibly develop our natural resources so we can strengthen our economy without damaging our environment.
- Romney and Ryan want to approve drilling projects without ensuring safeguards needed to protect areas vital to tourism, our environment, and our national security.
Record-High Natural Gas Production: Under President Obama, we’re once again the world’s top natural gas producer.
- The President’s plan to safely and responsibly develop our near 100-year supply of natural gas will help support more than 600,000 jobs.
- Romney-Ryan’s plan for more fracking with fewer safeguards would risk contaminating drinking water.
Creating Clean Energy Jobs: President Obama’s clean energy investments have supported nearly 225,000 American jobs and helped double the amount of electricity we generate from wind and solar.
- The President believes we need to keep investing in such a promising industry to create jobs in the U.S., not overseas.
- Romney has described wind and solar as not “real energy,” and Ryan has called them a “fad.” Romney and Ryan would eliminate the wind production tax credit, risking tens of thousands of American jobs.
Saving at the Pump: President Obama is nearly doubling fuel economy standards for cars and trucks to save families more than $8,000 at the pump per car.
- That means we’ll need about 2.2 million fewer barrels of oil a day by 2025.
- Romney attacked higher fuel economy standards and Ryan voted against them.
Romney and Ryan Shill for Big Oil: Romney, Ryan and their SuperPAC allies have taken nearly $9 million from oil and gas interests.
- They promise to keep giving $4 billion a year in taxpayer dollars to oil companies posting record profits.
- They would eliminate protections against Wall Street speculators who manipulate oil prices.