Ted Cruz: How Would A Republican President Affect Oil Prices?
A quick google search on republicans and energy policy will ultimately lead to the following conclusion: Less Restrictions, More Domestic Production. By the way, be sure to check out our thoughts on Donald Trump.
In regards to a front-runner for the GOP nominee you don’t have to look further than Ted Cruz’s own website to quickly find where he stands in regards to Energy, Cruz on Energy. The site summarizes his stance very succinctly, “In the spring of 2014, Sen. Cruz introduced the American Energy Renaissance Act (AERA) to unleash the full potential of America’s energy resources and rein in regulations that stifle jobs and economic growth. This legislation opens opportunities to encourage responsible energy exploration (including hydraulic fracturing), build the Keystone pipeline, modernize refineries, increase offshore drilling, expand energy exports, and broaden energy development on private land, generating revenue to reduce the national debt.
It is quite contrasting to the current regime’s stance when you see the political fire power of the GOP utilizing the word renaissance next to energy. Furthermore, unlocking regulations that hold back the private industries potential is something most business and all republicans welcome, less restrictions, more freedom.
When reviewing other major players such as Marco Rubio or even Jeb Bush, sorry Jeb not sure if you will make it past the next debate, the news looks to be reporting the same message, open up the gates. This article from nationaljournal.com. Why Ted Cruz And Jeb Bush Have (Basically) The Same Energy Plan puts it, quite frankly, clearer than I have in this blog, “That’s awfully similar to what Bush and some others want. Consider the energy plans of three hopefuls with detailed platforms: Bush, John Kasich, and Marco Rubio. They sound a lot like Cruz’s plan: allowing much wider drilling, exporting crude oil, approving Keystone XL, generally keeping fossil-fuel regulation at the state level, and killing President Obama’s sweeping rules to limit carbon-dioxide emissions from power plants and Interior Department regulation of fracking, among other regulations.”
How do these fellow party goers feel about climate change? Would their stance in regards to this large movement affect their policies if brought in to the office? Taking a look at Rubio it is quite clear the republican mantra holds steady for this issue at hand as well, During the September 2015 GOP debate, Marco Rubio said he would not support environmental regulations regarding climate change that hindered business development. “The bottom line is, I am not in favor of any policies that make America a harder place for people to live, or to work, or to raise their families,” Rubio said.
Mr. Ben Carson, you seem to be the quiet one at this debate, I mean blog, any thoughts on climate change? Carson discussed climate change in his op-ed in the Reno Gazette-Journal on March 29, 2014. He wrote, "Whether we are experiencing global warming or a coming ice age, which was predicted in the 1970s, we as responsible human beings must be concerned about our surroundings and what we will pass on to future generations. However, to use climate change as an excuse not to develop our God-given resources makes little sense. Expanding our wealth of energy resources, as well as encouraging the development of new renewable energy sources, would provide an enormous economic lift with obvious benefits, but it also would bolster our role as a formidable player in the struggle for world leadership."
These two opinions and statements were shared through this link, Presidential Candidates On Natural Resources, more thoughts on all candidates can also be found there.
So it is hard to say the affect that a republican candidate will end up having on the actual price of the commodity itself, but there is no doubt a republican president on any part of the right line is going to be pro-industry and who knows how that could help shape our future.
When the tide does turn, it will be those who follow the famous oilman’s J Paul Getty’s word who come out on the shiny side of the coin, quoting Mr. Getty, “Formula For Success: Rise Early, Work Hard, Strike Oil.”
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