Energy policy: Is there any right answer?

Speaking on the issue of offshore drilling, Fmr. Speaker of the House Newt Gingrich (R-Ga.) said, “You have to maximize oil production in the United States.”

In a discussion at the American Enterprise Institute for Public Policy Research (AEI), Gingrich advocated for clean coal technology calling the use of this technology “green conservatism.” Gingrich cautioned that if the United States tries other forms of technology too quickly, there is the possibility that the U.S. “doomed [itself] to no energy.” He called the costs of changing to other forms of energy such as wind, solar, and natural gas “a breathtaking investment.”

Gingrich was adamant that the U.S. does not have an energy crisis, but a “policy crisis.” He claimed that with its total range of resources, the U.S. “has the capacity to have ample energy at a reasonable price.”

Robert Hahn, Senior Fellow at AEI, said that offshore oil drilling would make little or no impact of domestic gas prices “anytime soon.” Hahn advised President -elect Obama to “limit his focus” on the issue of energy to potential investments and climate change. Hahn said that the potential jobs that would be opened by energy reform should not factor into Obama’s decisions. Hahn also cautioned that Obama not allow energy to turn “into complete political pork barrel” with potential wasted spending.

Irwin Stelzer, Senior Fellow and Director of the Hudson Institute’s Center for Economic Policy, said the U.S. cannot run solely on domestic oil because it is “too few and too costly.” However, he said that renewable energy cannot replace fossil fuels because it is too difficult and expensive to attain. He put down the idea of nuclear energy because he believes Congress will not solve the issue of nuclear waste disposal. Stelzer was not in favor or natural gas because he doesn’t believe it can replace liquid energy. He said that the U.S. could practice conservation if U.S. citizens want to live “as the Japanese.” Stelzer said that the U.S. will probably remain “heavily dependent” on other countries for oil.