Natural gas as a transportation fuel today costs $1.50 to $2 less per gallon equivalent than traditional diesel fuel.
Harold Hamm, CEO of Oklahoma City-based Continental Resources Inc., is chairman of Romney's Energy Policy Advisory Group and helped formulate the plan.
“We have a great amount of oil and natural gas in America, and we think we can be energy independent by 2020,” Hamm said. “It's a smart and bold move, and it is very doable.”
Hamm said the most important part of the plan is the effort to give the states more control over drilling on federal lands.
The plan also calls for increased funding on research and development for wind, solar and other fuel types.
“He left it open for all kinds of energy,” Hamm said. “If it works, let's do it. If it doesn't work, the time hasn't come yet.”
Despite the call for research funding for renewable energy sources, Romney's plan focuses on oil, natural gas and coal.
Michael Brune, Sierra Club executive director, called the plan “an anchor to the past.”
“Mitt Romney has devised an energy insecurity plan that would make us even more dependent upon oil, coal and gas companies while ignoring climate disruption, economic growth and the health and well-being of the American people,” Brune said in a statement.
“The future America deserves is one in which energy doesn't cost lives and no one has to choose between a good job and good health.”
MORE FROM NEWSOK
At a glance
Romney's Energy Plan