Richard Mourdock on Energy & Oil
Just a few years ago, Mourdock's stance would have been heresy for a candidate in a farm state. Even though the state actually farms more acres of soybeans these days, corn has long been integral to Indiana's self-image. Gov. Mitch Daniels and the candidates for governor are generally supportive of ethanol. Lugar, himself a farmer, has long taken the stance that what's good for corn is good for the state. But that argument has less and less support from Republicans these days. The industry, meanwhile, believes it is finally becoming competitive on its own terms. Mourdock, who has been endorsed by the Tea Party Express, outlines his stance as a matter of conservative principle.
Mourdock may be influenced by his work as a coal geologist in the oil and coal industries. The Lugar campaign has attacked him for holding up to $350,000 in stock in another alternative energy source, coal gas.
A 2011 PolitiFact report on whether ethanol reduces the price of gas, found that it depends on how high the price of oil is. With high gas prices today, ethanol producers have a better argument than usual that their product actually keeps the price of gas down. But at the same time, ethanol may also drive up the prices of many food products by creating more demand for corn, and have untold environmental costs.
The director of the Indiana Ethanol Producers Association quickly jumped on Mourdock's claims about ethanol. "I've never seen ethanol really go much above $3 a gallon, and right now, it's trading at $2.25. It's a low cost additive to gasoline," he said.
A: No alternative energy source is truly an alternative if it must be subsidized by the federal government to be economically viable. I support the development of additional domestic energy resources.
The Contract from America, clause 2. Reject Cap & Trade:
Stop costly new regulations that would increase unemployment, raise consumer prices, and weaken the nation's global competitiveness with virtually no impact on global temperatures.
The Contract from America, clause 8. Pass an 'All-of-the-Above' Energy Policy:
Authorize the exploration of proven energy reserves to reduce our dependence on foreign energy sources from unstable countries and reduce regulatory barriers to all other fo
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