Continental Resources CEO’s vision for energy independence
Continental Resources CEO Harold Hamm has not been shy about criticizing Pres. Barack Obama’s energy policy.
The billionaire oilman — who also is the chief energy adviser for Mitt Romney — on Friday laid out his vision of energy independence. Hamm’s plan, not surprisingly, centers on increased oil production. Hamm said the oil and natural gas industry has proven in recent years that the country contains far more oil than had been previously estimated. If the federal government were to better support the industry and stop hindering its drilling efforts, Hamm said, the country could quickly move toward energy independence.
Energy independence would lead to four significant benefits, according to Hamm:
- Stabilized gasoline prices
- National security
- Balance of trade correction
- American jobs
- American wealth creation
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We all want energy independence, but not only from foreign entities, but also the whims of Wall Street as oil is currently being traded as a commodity and fluctuations occur wildly and so often on such short notice and for seemingly the most minor of reasons. I’m not opposed to big oil, but I want reasonable efforts given to develop alternative sources of energy as well, and not have big oil squash any chance of their viability on the open market.