Five-dollar gas has been sighted in the District of Columbia, while six-dollar gas lurks in the haunted tourists traps of Orlando. Newt Gingrich put together a half-hour video address in which he speaks at greater length on his ideas for developing American energy resources. A full transcript of the address can be found here.
Gingrich sees energy independence as related to “national security, relates to your personal family budget, relates to the economy, and relates to balancing the federal budget, all four in one topic.”
“I know that science, technology, entrepreneurship have made tremendous progress,” he explains. “And I know that the politicians in Washington, the old‑time establishment, the elite news media, the bureaucrats don’t have a clue what’s possible, or in some cases, they have a clue and they are opposed to it. And I want to cover both of those in the next few minutes.”
And so he does, building from facts that are fairly obvious – or would be, if the media covered them properly – such as the huge oil reserves developed in North Dakota, one of the few low-unemployment boom regions of the Obama era. (The only other one that springs readily to mind is Washington, D.C.)
He reaches a set of policy goals, with a set of specific proposals to achieve them:
Become energy independent for national security reasons;
Develop enough new energy here at home that would create well, over a million jobs in the next few years, high‑paying jobs, very useful jobs, jobs which by the way, increase our manufacturing base because much of energy production requires manufacture products in order to both drill, due process, to transport;
Third, by using federal property and by allowing offshore development on federally controlled waters, we get paid a royalty. One of the leading experts on North Dakota has suggested that we might well have over the next generation 18 trillion, not billion, $18 trillion in royalties that we could gather for the federal government with no tax increases.
Gingrich is convinced his policies would result in a return to $2.50 gas. He has answers for critics who say that’s a pipe dream. Some of those answers involve laying pipes.
And that’s what the energy question is all about: the choice between growth and decay. We’ve had three and a half years of decay. We know what it looks like. It’s time we remembered what growth looks like, and what it requires: liberty, risk, and the pursuit of profit. It is a wild affair, but you will find few examples of successful attempts to centrally plan and control growth, within boundaries set by dismal ideology. Liberty is motion, and motion requires energy.
Update: The Gingrich campaign is making a remarkable push to get this video out. They’re actually purchasing “30-minute blocks of time in key cities between now and Super Tuesday,” according to a press release.
Also of note from the press release: Gingrich delivered the videotaped address entirely from memory, without using a teleprompter or notes.