Giuliani wants “Energy Independence” July 27, 2007Posted by AK in 2008 Elections, econ.
I will move America toward energy independence. It will require setting goals, sticking to them and energizing the American people to achieve them. It will require expanding our reliance on a much more diverse range of energy sources that America can control….
Mostly standard fare – but a couple of things are worth noting. The term ‘energy independence’ is incredibly misleading because in this day of integrated global markets, Americans will still feel oil shocks regardless of how much gasoline we use, as energy is a non-trivial input into every good that we consume. (For more, see Econbrowser.)
Secondly, I realize this is fairly innocuous small government shilling, but:
…In the case of increasing the number of oil refineries and nuclear power plants, it means breaking down some of the bureaucratic burdens…
Really? Less regulation of nuclear power plants?