NEW YORK ( ETF Expert) -- According to Gov. Mitt Romney, extreme environmentalism in the current White House has obstructed high-paying jobs in the oil and gas sector.
Indeed, "Drill, Baby, Drill" is more than a Republican mantra. Romney believes that abundant natural gas in North America is an avenue for reducing unemployment, lowering fuel costs and lessening dependence on foreign fossil fuels.
President Obama counters that the United States must pursue alternative, renewable sources of energy. The president maintains that forward-thinking government initiatives will create "green" jobs for the future, establish energy independence as well as preserve the environment.
Not surprisingly, Americans are torn. We don't want to pay $4 for a gallon of unleaded, especially when the government siphons off 65 cents. At the same time, the country isn't convinced that government spending of close to $50,000 on every General Motors (GM) Chevrolet Volt is a sensible path either.Perhaps ironically, there is a middle ground -- natural gas exploration and production. Neither Romney nor Obama may be comfortable with it, but both will find themselves supporting its expansion over the next four years. First of all, the U.S. is already the largest producer of natural gas. In fact, we'd be the largest exporter as well, were it not for regulations designed to keep natural gas prices from rising stateside. Secondly, natural gas is the cleanest-burning fuel in existence, where its production and use may be less harmful to the environment than hybrid or electric technologies. Third, even the most ardent advocate of alternative energy recognizes the importance of transitional renewables like natural gas. In brief, the Federal Reserve
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